Wal-Mart Stores, Inc. (NYSE: WMT) saw a decently healthy 2.5% sales gain in December, and the largest U.S. consumer electronics retailer also seems to have had a December sales figure that's not nearly as bad as some retail pundits were predicting. Best Buy, Inc. (NYSE: BBY) reported today that December same-store sales growth came in at 0.3% in the U.S. (for five weeks that ended January 5), while also adding that 1.5% sales growth occurred at stores, Web sites and call centers open at least 14 months.

Although I believe Best Buy is positioned to do very well in 2008 despite harsh consumer conditions that may continue to develop, 0.3% same-store sales growth during a main holiday month has to be disappointing to the retailer.

Of course, Best Buy was quick to point out that the December reporting month in 2006 contained an extra week of shopping (the week after Thanksgiving) than the December reporting month in 2007 contained. That's a great way to explain the situation of a quite-anemic 0.3% same-store sales figure. On an adjusted basis, Best Buy reported December same-store sales growth of 3% overall and 2.1% in the U.S. Okay, those numbers look much better, don't they?

Meanwhile, competitor Circuit City Stores, Inc. (NYSE: CC) saw horrible performance in December, losing on every possible front. Did Best Buy spank its nearest direct competitor? All signs point to yes. With consumer electronics being referenced as one of the top areas that helped propel Wal-Mart to its December same-store sales gains, Circuit City was the biggest loser in December when it came to consumer electronics. Hot categories at Best Buy during December were video games, GPS devices and flat-panel televisions.