BWW Geeks World

Financial Update: Best Buy Sales Flat from 2011 to 2012

Related: Best Buy
Financial Update: Best Buy Sales Flat from 2011 to 2012

Best Buy Co., Inc. today announced revenue of $12.8 billion for the nine weeks ended January 5, 2013 compared to $12.9 billion for the nine weeks ended December 31, 2011.

Fiscal 2013 Holiday Revenue Summary
($ billion)

Comparable Store Sales %
Change1

Revenue % 9 weeks ended

Revenue

Change

Jan. 5, 2013

Dec. 31, 2011

Total company $12.8 (0.4) (1.4) (0.4)
Domestic segment $9.9 (1.2) 0.0 0.3
International segment $2.9 2.2 (6.4) (3.1)

"One of the first priorities of our Renew Blue strategy is to stabilize and then begin improving our comparable store sales. During the most important period in the retail calendar - the holiday sales season - we were able to improve our Domestic comparable store sales trends compared to the performance of the last several quarters and continue our strong traffic growth in our online business. Our holiday selling strategy, backed by a compelling assortment, increased employee training and price match policy, allowed us to deliver these results," said Best Buy President and CEO Hubert Joly. "While it will be a journey with ups and downs, we are focused on becoming an increasingly effective multi-channel retailer and engaging with the tens of millions of consumers who shop us online and in-store," Joly added.

Best Buy's Domestic segment online channel delivered revenue of $1.1 billion, a 10 percent revenue increase compared to the prior-year period, driven by a traffic increase. Best Buy's strong online performance was recognized by various third parties, in particular:

  • ComScore indicated Best Buy was in the top three most trafficked websites for the Thanksgiving holiday and Black Friday
  • Experian data ranked Best Buy as the No. 3 retail website on Cyber Monday with 9.3 million visits

Domestic comparable store sales for the period were flat. The company recorded positive comparable store sales growth in mobile phones, tablets/eReaders and appliances. In contrast, comparable store sales in entertainment, televisions and computing declined.

The International segment comparable store sales decline of 6.4 percent was driven by comparable store sales declines in Canada and China. Sales results for all countries in the International segment other than Canada are reported on a one-month lag.

Related Links
BeyondTrust Achieves Significant Growth Across Privileged Account and Vulnerability Management Portfolio in Q4 and Fiscal Year 2014BeyondTrust Achieves Significant Growth Across Privileged Account and Vulnerability Management Portfolio in Q4 and Fiscal Year 2014
January 27, 2015
EyeLock Names Steve Gerber as Senior Vice President of Mobile and WearablesEyeLock Names Steve Gerber as Senior Vice President of Mobile and Wearables
January 22, 2015
Quietly Disruptive at NAMM: DUBS Acoustic Filters Use Acoustical Physics to Redefine the Ear PlugQuietly Disruptive at NAMM: DUBS Acoustic Filters Use Acoustical Physics to Redefine the Ear Plug
January 22, 2015
ADDING MULTIMEDIA Persado Secures $21M for Persuasion Automation: Machine Generates Most Persuasive Language for Communications Designed to Drive ActionADDING MULTIMEDIA Persado Secures $21M for Persuasion Automation: Machine Generates Most Persuasive Language for Communications Designed to Drive Action
January 22, 2015
NinthDecimal CPG Mobile Audience Insights Report Reveals New Data Around Mobile's Continued Transformation of Consumers' Path-to-Purchase NinthDecimal CPG Mobile Audience Insights Report Reveals New Data Around Mobile's Continued Transformation of Consumers' Path-to-Purchase
January 22, 2015


About Author

Subscribe to Author Alerts

GEEKS VIDEOS

STAGE TUBE: First Look at Second Episode of Telltale's GAME OF THRONESSTAGE TUBE: First Look at Second Episode of Telltale's GAME OF THRONES VIDEO: Watch President Obama's 2015 State of the Union Speech - LIVE!VIDEO: Watch President Obama's 2015 State of the Union Speech - LIVE! Video: YouTube Stars to Interview President Obama - And You Can Too!Video: YouTube Stars to Interview President Obama - And You Can Too! VIDEO: ELLEN Responds to Accusations of Having 'Gay Agenda'VIDEO: ELLEN Responds to Accusations of Having 'Gay Agenda' VIDEO: Google Jumping More into Education with Google ClassroomVIDEO: Google Jumping More into Education with Google Classroom VIDEO: Nintendo Shows Off New Nintendo 3DS XLVIDEO: Nintendo Shows Off New Nintendo 3DS XL VIDEO: Space Ship? No. D-Link Unveils ULTRA Performance Series of 11AC RoutersVIDEO: Space Ship? No. D-Link Unveils ULTRA Performance Series of 11AC Routers Video: D-Link Launches Industry's First Gigabit PowerLine Kits with MIMOVideo: D-Link Launches Industry's First Gigabit PowerLine Kits with MIMO VIDEO: LaCie Unveils Mirror Portable Hard Drive; Encased in Glass & Designed for LooksVIDEO: LaCie Unveils Mirror Portable Hard Drive; Encased in Glass & Designed for Looks VIDEO: Sneak Peek at the Angry Birds Christmas Special SANTAMENTAL MEVIDEO: Sneak Peek at the Angry Birds Christmas Special SANTAMENTAL ME STAGE TUBE: Samsung Canada Celebrates Launch of the NX1 with Short Film Starring Joseph Gordon LevittSTAGE TUBE: Samsung Canada Celebrates Launch of the NX1 with Short Film Starring Joseph Gordon Levitt VIDEO: Aidy Bryant Reaches 10,000 Tweets from Cut Sketch from Last Week's SNL; Watch Below!VIDEO: Aidy Bryant Reaches 10,000 Tweets from Cut Sketch from Last Week's SNL; Watch Below! Fully Restored Video: Craigslist 1996 Nissan Maxima CompletedFully Restored Video: Craigslist 1996 Nissan Maxima Completed VIDEO: CONAN Meets Digitzed Kevin Spacey in 'Call Of Duty: Advanced Warfare'VIDEO: CONAN Meets Digitzed Kevin Spacey in 'Call Of Duty: Advanced Warfare' VIDEO: It's Here! Starwood's Keyless Entry Launches Today!VIDEO: It's Here! Starwood's Keyless Entry Launches Today! New Video: Immigration Enforcement Needed to Counter Criminal and Terrorist ThreatsNew Video: Immigration Enforcement Needed to Counter Criminal and Terrorist Threats

Subscribe for News & Specials