Good News For Stocks – Best Buy Posts Big December Numbers
According to WSJ sources , Best Buy Co.’s sales rose strongly in Dec 2009, benefiting from christmas holiday demand for flat-panel TVs, smart phones and small computers devices.
The electronics retailer from Richfield, Minn. said sales at American stores, call centers and Web sites open at least fourteen months, a key measure of retail health, climbed by a whopping 9.3%. Gross sales, including results from newly opened stores, increased 13% to $8.5 billion for the 5 weeks ended Jan. 2/2010.
Best Buy indicated that it continued to improve its market share in December 2010 after reporting strong share gains for the fiscal third quarter ended November 30. Comparatively Circuit City Stores Inc. closed its stores early 2009. This subtracted a large competitor from its market place.
Brian Dunn, Circuit City’s Chief Executive said in a statement credited “the hard work of…employees around the world” for the results, pointing out the company had started to prepare for the 2009 holiday season 12 months ago.
WSJ – Good News For Stocks – Best Buy Posts Big December Numbers
