Best Buy Same-Store Sales Drop
Best Buy's same-store sales fell 6.8 percent for December in the U.S., and the CE retail giant announced its intention to take a $60 million fourth-quarter charge related to recent employee buyouts.
According to the Associated Press on Friday, Best Buy also downgraded its expected profit forecast for the quarter. Strong categories for the company included flat-panel TVs and mobile phones; weaker segments included appliances and digital cameras.
The chain had reported earlier in the week that around 500 headquarters employees had accepted offers of a buyout.