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Best Buy holiday revenues fall 2.5%
Minneapolis – Best Buy Co., Inc. saw its revenues for the nine-week holiday period ended Jan. 4, 2014 fall 2.5% from the same period a year earlier. Holiday revenues for the 2013 season were $11.45 billion, compared to $11.75 billion in the 2012 season.
Consolidated same-store sales only grew 0.1%, although online sales increased 23.5%. Best Buy cited a more intense than expected promotional pricing environment as a key factor in its disappointing holiday results.
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