Best Buy’s like-for-like sales fell around 2.5 per cent for both January and February, up from a 6.8 per cent drop in December.

The better than expected results for the US electricals giant included sales growth for its fourth quarter to February 28 of 9.7 per cent to $14.7bn (£10.05bn).

Best Buy chief executive and vice-chairman Brad Anderson said: “We prepared for reduced consumer spending and we were pleased when the quarter finished stronger than it began.”

Best Buy said that it gained 1.2 per cent of domestic market share in the year to February 28, helped by the collapse of rival Circuit City.

It also said that its would open fewer stores this year to increase cash flow and confirmed its plans to delay opening in the UK until spring 2010.