In its second-largest acquisition, Amazon buys the company for $970 million.
Best Buy’s U.S. web sales rose nearly 50% year-over-year for the fourth quarter ended Feb. 25, while U.S. store revenue rose 14%, the company said yesterday.
Best Buy Co. Inc.’s U.S. web sales rose nearly 50% year-over-year for the fourth quarter ended Feb. 25, while U.S. store revenue rose 14% to $9.4 billion and comp store sales increased 7.3%, the company said yesterday.
Total online revenue, including Best Buy’s Canadian web sites, grew 45% year-over-year, the retailer said.
As of the end of February, Best Buy operated 774 stores in the U.S. and 167 in Canada.
Best Buy is No. 10 in the Internet Retailer Top 400 Guide to Retail Web Sites. Sam Taylor, senior vice president of online stores and marketing, will speak at the Internet Retailer 2006 Conference in June in Chicago on the topic “Delivering Web Content That`s Focused on Customer Needs”