Consumer electronics specialist Best Buy has revealed revenues of $12.8bn (£7.97bn) for the nine weeks ending January 5. That compares with $12.9bn (£8.03bn) for the nine weeks ending December 31, 2011.

Turnover was down slightly because of a comparable stores sales fall of 1.4%.

The performance was seen as encouraging for Best Buy, considering its market is characterised by subdued consumer spending and tough competition from mass merchants and pure-plays.