Best Buy Halts U.S. Sales Decline
Best Buy Co. reported a narrower fourth-quarter loss on Friday on its first increase in U.S. same-store sales in more than a year, the latest evidence that the beleaguered electronics retailer is slowly stabilizing its battered business.
In its first full quarter under new Chief Executive Hubert Joly, the Richfield, Minn., retail chain delivered improved free cash flow while gross profit margins fell less than expected despite stepped up efforts to match rivals’ prices.
