Best Buy Feels Declines In TV Demand

  • January 14, 2008
Despite an 11% gain in revenues, electronics giant Best Buy says its comparable-store sales in the U.S. rose just 0.3% in December, as total television sales registered a decline.

Overall, the company says same-store sales rose 1.5%, and on a calendar-adjusted basis, comparable-store sales gained 2.1% in the U.S. In the consumer electronics segment, its largest business line, which accounts for 46% of its business, sales fell 3.1%.

"A low double-digit comparable store sales gain in flat-panel TVs and a triple-digit comparable store sales gain in GPS devices were more than offset by declines in projection and tube TVs as well as MP3 devices," the company says.

--Sarah Mahoney

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