Best Buy posts sluggish December comps
FROM TWICE: Same-store sales up 3%
By Alan Wolf of TWICE -- Video Business, 1/14/2008
RELATED ARTICLES
March, 10 2008
May-November relationship
The cover story in today's weekly version of our sister pub, Variety, has huge implications for the ...
More
BETWEEN THE LINES
February, 11 2008
Blu-ray pushes HD DVD down, but not out
UPDATE: One party is determined to mop up quickly. Wal-Mart says it will be completely out of HD DVD...
More
BETWEEN THE LINES
January, 18 2008
Revenue sharing all over again?
To get further into the download business, or manufacturing on demand, or any new technology, Blockb...
More
THE DOWN LOW
January, 14 2008
Writer's Strike, Cancellations casting Out Viewers
New evidence suggest that visits to online video sites have risen drammatically in the last year, ai...
More
» VIEW ALL BLOGS
Gossip Girl stars Matthew Settle and Kelly Rutherford celebrate with Snoopy (aka the Easter Beagle) at Warner’s ‘The Easter Beagle Presents Canine Couture’ fashion show in Palm Beach, Fla., on March 8.
To promote DreamWorks and Paramount’s Bee Movie, human-sized bees descended upon New York for some promotional events.
Director Tony Krantz attended the South by Southwest Film Festival in Austin, Texas, with the cast of his film Otis, which Warner will release on DVD June 10.
» VIEW ALL GALLERIES
» VIEW FEATURED GALLERY
JAN. 14 | FROM TWICE: Best Buy’s same-store sales rose 3% on an adjusted basis company-wide during the critical five-week period ended Jan. 5, and increased a modest 2.1% in its U.S. stores due to comparable-store sales declines from custom install services, extended warranty attachments and sales of MP3 players and projection TVs.
Without the benefit of the adjustment, company-wide comps rose 1.5% and U.S. same store sales were flat at 0.3% due to a shift in the chain’s fiscal calendar that moved a week of post-Thanksgiving sales from December to November.
Net sales for the five weeks were up 11% to $7.3 billion company-wide and grew 8% to $6 billion domestically thanks to the addition of 127 new stores, including 96 in the U.S., and strength in video gaming, flat-panel TVs, notebook computers and GPS devices, which helped drive increases in the average transaction amount.
Read the full story on TWICE.com.