The CEO of Stage Stores blamed warm weather and cheap gas prices for a drop in same-store sales over the holidays.
The company said same store decreased 2.5% for the 10-week period ending Jan. 9.
Holiday sales declined at Best Buy and the company reduced earlier guidance even though CEO Hubert Joly said the company’s seasonal strategy was well-executed. What’s up with that?
In fact, lackluster consumer interest in electronics led Best Buy to report a decline in same store sales of 1.4% over the nine week period ended Jan. 2. Revenue declined .8%.