Best Buy posted earnings and revenue that beat analyst's estimates for its holiday quarter.
Scott Olson | Getty Imageson Thursday reported holiday-quarter earnings and revenue that topped Wall Street's expectations, as waning demand for consumer electronics proved better than feared.
Still, shares were down about 2% in premarket trading as the retailer warned of declining sales in the coming year. For the coming fiscal year, the consumer electronics retailer said it expects revenue between $43.8 billion and $45.2 billion, a decline from its most recent fiscal year, and a same-store sales decline of between 3% and 6%.
Same-store sales decreased by 9.3% during the fourth quarter, slightly higher than analysts' expectations of 9.2%, according to StreetAccount. For the full year, same-store sales were down 9.9%, in line with guidance the retailer issued in November that . The key metric, also called comparable sales, tracks sales online and at stores open at least 14 months.
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