Best Buy Widens Q1 Entertainment Sales Decline

Christmas is officially over. The post-winter holiday blues hit Best Buy entertainment sales with a thud.

The nation’s largest consumer electronics retail chain May 23 reported a 12.7% drop in same-store entertainment sales to $424 million for the quarter ended May 4. The business unit includes DVD/Blu-ray Disc movies, video game hardware and software, books, music CDs and computer software.

Entertainment sales declined less than 1% to $504 million in the previous-year period.

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International entertainment sales dropped 14% to $33 million, compared to an 8.3% decline to $41.8 million in the previous-year period.

Overall, Best Buy upped domestic operating income 24.3% to $332 million from $267 million last year. Revenue upped less than 1% to $8.48 billion from $841 billion.

The largest comparable sales growth drivers were appliances, wearables and tablets.

Domestic ecommerce revenue of $1.31 billion increased 14.5% on a comparable basis primarily due to higher average order values and increased traffic. As a percentage of total domestic revenue, online revenue increased to 15.4% versus an increase to 13.6% last year.

On June 11, CEO Hubert Joly transitions to the newly created position of executive chairman. CFO and strategic transformation officer Corie Barry becomes Best Buy’s fifth CEO and first female chief executive.

Joly appears to relish the transition from day-to-day operations to cushy board oversight.

“I am very proud of the seamless transition we have decided to implement, as it reflects positively on our momentum as well as our focus on executive development and succession planning,” Joly said in a statement.

Book Retailer Marketing Companion Titles for Netflix, Hulu, Amazon, HBO Original Shows

If you can’t beat subscription streaming, join over-the-top video.

Books-A-Million, the Birmingham, Ala.-based chain of 200 bookstores, has issued a list of companion books to favorite Netflix, Hulu and other streaming titles. This list complements popular TV shows and movie titles, including “You,” “Stranger Things,” Bird Box, “Spark Joy: An Illustrated Master Class on the Art of Organizing and Tidying Up,” among others.

“Think of the book as the uncut version of the movie or TV series – there is better character development, the plot is deeper, the blanks are filled in, there may be an alternate ending and there might be a sequel,” Margaret Terwey, senior buyer for Books-A-Million, said in a statement. “That’s why we think the book is better and why we encourage our customers to simultaneously stream and read.”

Stranger Things: Suspicious Minds: The First Official Stranger Things Novel ($28) by Gwenda Bond is a brand-new prequel providing readers with secrets and the background of Eleven’s mother.

Agatha Christie’s The ABC Murders ($14.99) inspired the Amazon Prime series, which sets main character Hercule Poirot on the trail of an alphabetical serial killer.

You ($17) by Caroline Kepnes prompted the popular Netflix series about a young man who meets a woman and becomes obsessed with being her perfect partner, removing any obstacles in his way.

Josh Malerman’s Bird Box ($15.99) is a hit Netflix film (80 million viewers) about a post-apocalyptic world in which a monster lives, and anyone who sees the mysterious force is driven to deadly violence.

Decluttering guru and Netflix star Marie Kondo’s Spark Joy: An Illustrated Master Class on the Art of Organizing and Tidying Up ($18.99) has revolutionized homes and lives across the world, and fanatics can go even further with her book featuring step-by-step illustrations.

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From the host of the television series and podcast “MeatEater,” The Meateater Fish and Game Cookbook: Recipes and Techniques for Every Hunter and Angler ($35) by Steven Rinella is a guide to cooking wild game, featuring more than 100 new recipes.

Now on Netflix, Salt, Fat, Acid, Heat: Mastering the Elements of Good Cooking ($37.50) by Samin Nosrat and Wendy MacNaughton is an ambitious new approach to cooking by mastering the use of the four title elements.

The Game of Thrones prequel by George R. R. Martin, Fire and Blood – 300 Years Before A Game of Thrones ($35), helps readers dive deeper into the history of the Targaryens.

Available in paperback in April 2019, The One ($15.99) by John Marrs explores a company that promises to match people up with their soulmates via DNA testing.

Finally, fans of the movies that are streaming on Hulu and anyone anticipating the upcoming Amazon Prime Video original series will want The Hobbit and Lord of the Rings: Deluxe Pocket Boxed Set ($49.95), a four-volume set containing The Hobbit and the three volumes of The Lord of the Rings.