Retail News

Best Buy showing signs of holding its own against Amazon

ABC News 08/29/2017

It wasn’t that long ago when many in the industry predicted a fate for Best Buy along the lines of its failed rival, Circuit City, but the company continues to strengthen its foothold in consumer electronics. Best Buy raised its full-year profit and revenue outlook following its second quarter report of a 5.4 percent increase in revenue, a figure that beat analysts’ estimates of a 2.2 percent increase. The company’s e-commerce sales spiked 31.2 percent.

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