Business

Best Buy holiday sales fall, shares skid

Best Buy’s stock price had more than quadrupled last year, but it’s sliding so far this year.
Best Buy’s stock price had more than quadrupled last year, but it’s sliding so far this year.Spencer Platt/Getty Images/File 2013

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Best Buy Co. had disappointing holiday sales, worsening the concern about its ability to turn around the business. It was struggling even before the holidays, facing tough competition from Amazon, Walmart, and others. Its strategy included revamping merchandise, training employees, and cutting costs. Yet revenue for the nine weeks to Jan. 4 fell 3 percent to $11.45 billion. Sales at stores open at least a year, a key metric, fell 0.8 percent.

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