NEW YORK Jan 16 Best Buy Co Inc said on
Thursday that total revenue and sales at its established U.S
stores fell in the all-important holiday season due to intense
discounting by rivals, supply constraints for key products and
weak traffic in December.
Sales at its stores open at least 14 months were down 0.9
percent in the United States and up 0.1 percent internationally
in the nine weeks ended Jan. 4.
Total revenue fell about 2.6 percent to $11.45 billion in
the nine-week period.
The world's largest consumer electronics chain cut prices
aggressively to thwart fierce competition from Wal-Mart Stores
Inc and other rivals in what turned to be one of the
most promotional seasons since the recession.