Retail News

Best Buy’s online sales couldn’t offset store loss

Minneapolis Star Tribune 05/21/2020

Best Buy saw a big bump in sales as Americans first began working at home, but saw its business taper off as those needs were met and the chain closed its stores to foot traffic. Sales at the chain dropped 20 percent when Best Buy closed stores to customers beginning in March and running through April. Now that Best Buy has begun reopening its locations, the chain is opening pent-up demand will help it begin to reverse the 5.7 percent decline in comp sales during the first quarter.

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