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Best Buy Sees Entertainment Software Slump
by Leigh Alexander [PC, Console/PC]
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January 9, 2009
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Retailer Best Buy saw $7.5 billion in revenues in December, a four percent year-over-year increase. However, its entertainment software category, which includes video games, saw a 12 percent decrease.
Within that category, though video game sales specifically saw only an unspecified single-digit decline; music and movies, also included among entertainment software, fell by double digits.
The decline in game sales can be attributed primarily to "a shift toward software and reduced sales of large-ticket consoles, as well as comparisons with strong results in the prior year’s period," Best Buy says.
All of Best Buy's categories except for home office supplies reported declines credited to weak consumer spending. The company's revenue increases can be credited by the addition of European business to its mix, and from the opening of new stores.
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