Best Buy Co. entered the holiday shopping season on a positive note after posting quarterly sales that topped estimates and raising its full-year-outlook, sending the shares higher.
Fueled by demand for appliances, headphones, tablets and services like tech support, comparable-store sales in the U.S. rose 2%, easily beating analysts’ projections. The Minneapolis-based consumer-electronics retailer also boosted its forecast for that key retail metric and for profit this year, as its hometown rival Target Corp. did last week.
