Same-store sales slow at Best Buy
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Best Buy Co., the largest U.S. consumer-electronics chain, said December sales growth at stores open at least 14 months grew at the slowest pace in five years, sending the shares down the most since June.
So-called same-store sales rose 1.5%, the smallest increase since the 0.4% gain in December 2002. In the year-earlier period, sales climbed 7%.
December sales results from electronics retailers are an indicator of how they fared in the fourth quarter, when most of their annual profits are earned.
Best Buy shares fell $2.37, or 5.1%, to $44.20.
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