Retail News

Best Buy posts sales and profit gains despite tariffs

Minneapolis Star Tribune 05/23/2019

Best Buy outperformed Wall Street’s expectations during the first quarter despite higher prices on some products due to tariffs on Chinese imports. The consumer electronics retailer posted a same-store sales gain of 1.1 percent. Online sales for the chain were up 14.5 percent during the quarter, rising to 15.4 percent of Best Buy’s total sales. The retailer’s shares were up two percent in premarket trading.

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