Best Buy posted a same-store sales drop in December that was in line with analysts’ estimates. Sales at stores open at least 14 months fell 1.2 percent in December, company officials said today in a statement. Total revenue in the month was $8.4 billion, about the same as last year. Chief Executive Officer Brian Dunn stepped up holiday discounts to keep customers from going to its main competitors: Amazon and Wal-Mart. However, Web sales gained 26 percent. Best Buy (NYSE:BBY) has potential upside of 27% based on a current price of $24.41 and an average consensus analyst price target of $31.
