Best Buy's Price-Shredding Turnaround Is Working

A Black Friday shopping jam at a Best Buy outlet in Peoria, Ill. Photograph by Daniel Acker/Bloomberg

A long-awaited turnaround appears to be taking hold at Best Buy. The electronics retailer on Tuesday reported its best quarterly results in two years, cheering investors who had long wondered whether the sale of TVs, stereos, and other entertainment gadgetry had shifted permanently to the Internet and forever away from big-box retailers such as Best Buy and defunct Circuit City and Tweeter.

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