Sunday, January 13, 2013

At Best Buy, Flat Holiday Sales are the New Up

Best Buy Co.'s holiday sales fell despite a surprisingly resilient showing in the U.S., and the consumer-electronics retailer said its cash flow continues to weaken.Best Buy Co.'s holiday sales fell less than expected because of relatively strong results in the U.S., but the electronics retailer warned on Friday that its free cash flow continues to dwindle, potentially complicating a bid by its founder to take theBest Buy (BBY) reported virtually flat holiday sales on Friday and said strategies such as its online price-matching policy that led to robust online traffic helped offset weaker in-store sales. Revenue for the nine weeks ended Jan. 5 was $12.8 billionBest Buy celebrates the grand re-opening of its remodeled Richfield store.From the blog Breakout: On Friday, Best Buy (BBY) investors got another warning that the electronics chain may have a hard time sticking around long enough to close the deal on a buyout. Reporting preliminary results from
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