Best Buy holiday sales downby Bill Catlin, Minnesota Public Radio
ST. PAUL, Minn. — Best Buy this morning reported a decline in same-store sales over the crucial holiday shopping season and said the company would generate less cash than officials had forecast in November.
Sales at stores open at least 14 months fell 1.4 percent. On the other hand, the company's much-criticized online channel delivered a sales INCREASE of 10 percent.
The company also said it would generate $500 million in free cash this fiscal year, down from an earlier forecast of as much as $1 billion.