Best Buy Co., Inc. announced sales results for the nine weeks ended January 2, 2016. For the period, the company reported enterprise revenue was $10,961 million against $11,366 million a year ago. Comparable sales change was 1.2% compared to a year ago.

The company revised earnings guidance for the fiscal year 2016. For the year, the company expects a revenue decline of near 4% versus previous expectation of a low single-digit decline. Non-GAAP operating income rate decline of approximately 15 to 30 basis points versus previous expectation of a rate decline of 25 to 45 basis points. From a tax rate perspective, the company now expect the non-GAAP effective income tax rate from continuing operations to be in the range of 34.5% to 35%, versus 34.2% last year, which is expected to result in a negative $0.01 to negative $0.03 year-over-year non-GAAP diluted EPS impact in fourth quarter of 2016.