Best Buy (BBY) Struggles for Market Share Growth Outside of U.S.
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Best Buy (NYSE: BBY) has had a strong presence in the U.S., but latest data points to a little more struggle in several key markets.
Reuters points out today that the U.S. made up 74 percent of Best Buy's sales in fiscal 2013. Europe was at 11.4 percent, Canada at 10.7 percent, and China with 3.5 percent.
However, while market share in the U.S. has seen some growth over the last year, Europe and China remain stagnant. Market share in the U.S. is currently at 34 percent, while Western Europe is at 2.3 percent and China is at 1.8 percent. 2012 appeared to be the first smidgen of gain Best Buy recorded since at least 2008.
Shares are up about 0.2 percent Wednesday.
Reuters points out today that the U.S. made up 74 percent of Best Buy's sales in fiscal 2013. Europe was at 11.4 percent, Canada at 10.7 percent, and China with 3.5 percent.
However, while market share in the U.S. has seen some growth over the last year, Europe and China remain stagnant. Market share in the U.S. is currently at 34 percent, while Western Europe is at 2.3 percent and China is at 1.8 percent. 2012 appeared to be the first smidgen of gain Best Buy recorded since at least 2008.
Shares are up about 0.2 percent Wednesday.
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