Best Buy Q4 comparable sales fall less than expected

By Thomson Reuters Feb 29, 2024 | 6:09 AM

(Reuters) – Best Buy on Thursday posted a smaller-than-expected drop in quarterly comparable sales, as holiday deals prompted shoppers to open their wallets for big-ticket purchases like electronics and home appliances.

The top U.S. electronics retailer’s fourth-quarter comparable sales fell 4.8%, its ninth straight quarterly decline, compared to analysts’ average expectations of a 5.36% drop, according to LSEG data.

(Reporting by Savyata Mishra in Bengaluru; Editing by Savio D’Souza)