March 3, 2022
Best Buy March 3 reported that same-store domestic fourth-quarter (ended Jan. 22) entertainment revenue dropped 9.5% compared to an increase of 31.4% in the previous-year period.
The segment, which includes products such as DVD/Blu-ray Disc movies, video game hardware and software, books, music CDs and computer software, saw revenue of $1.2 billion compared with revenue of $1.38 billion the previous year.
International entertainment revenue sales dropped 6.9%, compared with a 59.5% increase in the prior-year period.
Notably, while online revenue comprised 40% of domestic revenue, e-commerce actually declined 11.2% in the quarter compared with an increase of 89.3% a year earlier. For the fiscal year, e-commerce dropped 12% versus an increase of 144.4% in the prior-year period, underscoring the return of consumers in retail stores.