Strong online sales of mobile phones, tablets and headphones helped Best Buy Co ...
FILE PHOTO: Holiday shoppers leave a Best Buy store at the Pentagon Centre shopping mall in Arlington, Virginia, U.S., November 29, 2019. REUTERS/Loren Elliott
Shares of the consumer electronics retailer rose 3.4% to $85 in premarket trading, even as the company said it would take a financial hit from the coronavirus outbreak in the first half of the year. To cope with that shift, Best Buy has beefed up its e-commerce operations by tweaking the appearance and features of its app and adding next-day delivery and pick-up-in-store services.
Revenue rose 2.7% to $15.20 billion, also beating the estimate of $15.05 billion. The company’s domestic comparable online revenue increased 18.7% to $3.52 billion.
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