Vancouver-based Best Buy Canada a drag on parent company’s sales, financials reveal

  • 📰 PGCitizen
  • ⏱ Reading Time:
  • 21 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 51%

Canada News News

Canada Canada Latest News,Canada Canada Headlines

Vancouver-based subsidiary’s sales fell 8.8 per cent in latest quarter

Best Buy Co Inc.’s Canadian stores are seeing steeper drops in sales than are the company's stores in the U.S. – at least when those sales are converted into U.S. dollars.

“This decrease was primarily driven by a comparable sales decline of 5.4 per cent and the negative impact of approximately 340 basis points from foreign currency exchange rates,” the company explained in a news release. The company’s U.S. business also struggled. It generated US$8.89 billion in sales in the quarter ended July 30, down 7.1 per cent from US$9.569 billion in the same quarter in 2022.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 65. in CA
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Vancouver-based Best Buy Canada a drag on parent company’s sales, financials revealVancouver-based subsidiary’s sales fell 8.8 per cent in latest quarter
Source: BurnabyNOW_News - 🏆 14. / 77 Read more »