3/30/2009 3:56:00 PM
Best Buy reports ‘better than expected’ results for quarter four
Best Buy's like-for-like sales fell around 2.5% for both January and February 2009, up from a 6.8% drop in December.
The ‘better than expected’ results included sales growth for its fourth quarter to 28 February, of 9.7 % to $14.7bn (£10.05bn).
The electronics retailer said it would open fewer stores this year to increase cashflow and confirmed its plans to delay opening in the UK until spring 2010.
Best Buy's chief executive and vice-chairman, Brad Anderson, said: ‘We prepared for reduced consumer spending and we were pleased when the quarter finished stronger than it began.’