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Convergys holiday survey: Big online spending yet to come
Cincinnati -- A survey released Monday by Convergys said that many consumers have yet to complete their holiday shopping -- and many of those will do that shopping online.
According to Convergys’ 2010 Holiday Shopping Season Research, which polled 500+ consumers on their holiday shopping plans; 18% of consumers have already completed their holiday shopping; but 27% have not yet started; and 50% are only half done.
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Best Buy Q3 profit misses, cuts full-year forecast
Minneapolis -- Best Buy Co. reported an unexpected decline in fiscal third-quarter profit Tuesday, as lower demand for televisions and videogames led to a sales shortfall in the United States. The chain cut its full-year forecast.
Best Buy Co. said that its third-quarter net income fell 4% to $217 million, while revenue fell 1% to $11.89 billion. Same-store sales fell 3.3%. Results missed Wall Street projections.
Best Buy said it has cut its full-year outlook, as it faces stepped-up competition from online and discount stores.