Best Buy Expecting Strong Holidays
A Best Buy executive on Wednesday told a conference that he expects the company to have a strong holiday season, based on stronger consumer demand, Reuters reported. The comments, from Best Buy executive vice president for customer operating groups Michael Vitelli, came at Reuters’ own Consumer and Retail Summit in New York.
Vitelli added that the company is presently determining its strategy for holiday inventories, in light of current economic conditions. However, he expects that video games and Blu-ray will be big drivers of growth for the holidays, and is also counting on the company’s Reward Zone program to drive sales.
The comments came a day after Best Buy announced earnings that represented a drop from the same period a year earlier, but were nonetheless stronger than expected.