Business Services Industry
Best Buy Posts Strong Same-Store Sales, as Rival Circuit City Slumps.
Knight Ridder/Tribune Business News, December, 2003
By Gregory J. Gilligan, Richmond Times-Dispatch, Va. Knight Ridder/Tribune Business News
Dec. 5--Sales gains at Circuit City Stores Inc. continued to lag behind rival Best Buy Co. Inc. in the fiscal third quarter, as shoppers bought electronic gadgets and big-screen television sets.
Richmond-based Circuit City said sales at stores open at least a year, also called same-store sales, fell 1 percent in the quarter that ended Nov. 30. Overall sales also declined 1 percent.
Yet the Richmond-based chain saw an increase in sales in November. Same-store sales, considered a key indicator for retailers, increased 4 percent during the month.
"We believe that the November results reflect the steps we have taken throughout the year to...
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