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Best Buy Q4 Entertainment Sales Inch Up

25 Feb, 2016 By: Erik Gruenwedel

Best Buy Feb. 25 reported fourth-quarter (ended Jan. 30) same-store entertainment sales increased 0.1%, compared with a decline of 1.8% during the previous-year period.

Entertainment, which includes packaged-media Blu-ray Disc and DVD movies and TV shows, music CDs, video games and digital platform CinemaNow, saw revenue remain flat at 11% ($1.37 billion) of total ($12.5 billion) domestic revenue.

Internationally, entertainment revenue increased 1% ($11 million) to 12% ($132 million) of total ($1.1 billion) sales.

Consumer electronics sales increased 2.7% ($337.5 million) to 35% ($4.37 billion) of total sales.

Underscoring Best Buy’s push to compete online, e-commerce sales increased nearly 14% to 15.6% ($1.95 billion) of total sales.

Best Buy recently began offering 4K Ultra HD Blu-ray movies and compatible Samsung 4K Blu-ray Disc player in select stores — ahead of their respective retail launch dates.

About the Author: Erik Gruenwedel

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