- Best Buy (BBY) is off 19.2% in premarket action after reporting holiday season comparable store sales fell 0.8%. Online sales were up 23.5%.
- CEO Hubert Joly cites "aggressive promotional activity in the retail industry during the holiday period, which we believe did not result in higher industry demand and had a deflationary impact on our revenue."
- CC at 8 ET
- Press release
Best Buy tumbles after weak holiday results
Jan 16 2014, 07:16 ET