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Best Buy Online Revenue Up 34% In December
Best Buy reported today from the Consumer Electronics Show that revenue for the fiscal month of December increased 13 percent to $8.5 billion.
"The holiday selling season is critically important to a retailer. Our preparations for December begin in January, and this year the stakes were higher than ever, given the tough environment we're all navigating. I couldn't be more proud of the extraordinary effort our people put forth - at our support, distribution and service centers, and, of course, in our stores."
The company's domestic segment generated $6.7 billion in revenue for fiscal December, an increase of 13 percent when compared with the same period last year. The domestic revenue performance included a comparable store sales increase of 9.3 percent and gains from new stores in the past 12 months.
Additionally, the company noted that domestic online revenue in fiscal December increased 34 percent versus the prior year, driven mainly by growth in Web site traffic.
Within the domestic segment, the home office category experienced a 28.5 percent comparable store sales increase driven by Best Buy's broad assortment of notebook computers and mobile phones combined with a differentiated customer experience. The consumer electronics category posted a 4.5 percent comparable store sales increase as customers continued to respond favorably to Best Buy's assortment of televisions. The appliances category experienced a 16.2 percent comparable store sales increase and the services category recorded flat comparable store sales.
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