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News summary: Best Buy shares up on holiday sales

Updated at: 01/11/2013 12:37 PM
By The Associated Press

MORE BUY: Shares of Best Buy Co. jumped 12 percent on Friday after the electronics chain showed signs of starting to reverse declining sales during the critical holiday selling season, a better-than-expected result.

DOWN BUT NOT OUT: The chain said that revenue at stores open at least a year fell 1.4 percent for the nine weeks ended Jan. 5. This figure is a key gauge of a retailer’s health and was better than expected.

BEST SELLERS: Sales were strongest among cellphones, tablets, electronic readers and appliances, while sales of entertainment, televisions and computer-related items dropped.

(Copyright 2013 by The Associated Press. All Rights Reserved.)