Shares of Best Buy Co Inc (BBY ) plummeted on Thursday morning after the company released its results for the holiday season, but noted that it does not expect the improved sales to continue into 2015.
Best Buy reported that same store sales rose 2.6% during the holiday season. Revenue for the season was $11.4 billion, up from $11.1 billion last year. Despite the positive results, Best Buy noted that it does not expect the improvement in sales to continue past the holiday season.
This news comes as Best Buy’s competitor Radioshack (RSH) has become closer to declaring bankruptcy.
The Bottom Line
Best Buy (BBY ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.0 out of 5 stars.