(MENAFN) US Best Buy registered lower-than-expected revenue for the third consecutive quarter, dragged down by low sales of PCs and electronics, Gulf Daily News reported.
Best Buy's revenue fell 4 percent to USD8.89 billion in the second quarter, while same-store sales dropped 2.7 percent in the period. US same-store sales slipped 2 percent.
Sales of consumer electronics such as TVs, desktop and notebook computers declined 2.5 percent industry-wide in the quarter. These items make up about 65 percent of Best Buy's US revenue.
The company said it expected same-store sales to decline in the second half of the year, with plans to invest USD40-USD50 million in the period to improve operations such as shipping and order fulfillment.
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