Best Buy tumbles after weak holiday results

|About: Best Buy Co. (BBY)|By:, SA News Editor

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."

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