Best Buy beats expectations big time
Best Buy had a monster day on Wall Street Tuesday, with the stock closing up 20 percent. This came after the electronics retailer reported much better than expected results, including a 21 percent jump in profit. Appliance and consumer electronics sales were especially strong.
This surprised investors and it probably surprised non-investors as well, given the constant talk of Amazon crushing brick and mortar retailers. Best Buy, which is 50 years old this week, hasn’t gone the way of RadioShack or Circuit City.
Use the audio player above to hear how Best Buy avoided being another brick and mortar casualty.
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