Best Buy Co Inc said on Wednesday it would furlough about 51,000 hourly U.S. store employees and that its sales dropped about 5per cent in the ...
REUTERS: Best Buy Co Inc said on Wednesday it would furlough about 51,000 hourly U.S. store employees and that its sales dropped about 5per cent in the first two months of the current quarter, as the electronics retailer kept its stores shut due to the coronavirus pandemic.
The company said sales grew about 25per cent during an 8-day period ended March 20, a day before the company announced its decision to switch to a curbside delivery model, as people shopped for work-from-home equipment, gaming-related products as well as products needed to freeze food. However, store closures and decreased footfall have dented demand, and sales dropped 30per cent from March 21 through April 11, Best Buy said."The situation remains very fluid and there is still a great deal of uncertainty, particularly as it relates to depth and duration of store closures and consumer confidence over time," Chief Executive Officer Corie Barry said.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Germany says WHO is one of best investments after Trump cuts fundingBERLIN (REUTERS) - Strengthening the World Health Organisation is one of the best investments, Germany's Foreign Minister said on Wednesday (April 15) after US President Donald Trump on Tuesday halted funding to the Geneva-based organisation.. Read more at straitstimes.com.
Read more »
10 of the best free online puzzles to enjoy at homeKeep the brain busy.
Read more »
Football: Bournemouth latest Premier League club in furlough U-turnLONDON (AFP) - Bournemouth became the latest Premier League club to reverse a decision to apply for financial assistance from Britain's furlough financial aid package on Tuesday (April 14).. Read more at straitstimes.com.
Read more »
Football: Bournemouth latest to reverse coronavirus furlough decisionLONDON: Bournemouth became the latest Premier League club to reverse a decision to furlough non-playing staff during the stoppage in play caused ...
Read more »
Amazon fires two employees critical of warehouse working conditionsAmazon.com Inc said on Tuesday it terminated two employees, who criticized the working conditions at the e-commerce giant's warehouses in the ...
Read more »
US awards airports US$10 billion in grants amid travel falloffThe U.S. Transportation Department on Tuesday awarded nearly US$10 billion to U.S. airports struggling with a massive falloff in travel demand ...
Read more »