, Columnists
Best Buy Finally Figures Out the Internet
The retailer bucks daunting industry trends by mimicking rivals.
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Best Buy's quarterly financial results on Tuesday were downright Amazon-like: Consecutive quarters of double-digit online sales growth. Hot new products including virtual-reality headsets and techy watches. Words like "exploration" and "experimentation."
Gone were the store-closing announcements of quarters past, along with talk of bad weather or other tired excuses for why consumers aren't shopping (many of which we've heard from Target, Macy's and other retailers in recent weeks). Shares surged 19 percent on the news, marking Best Buy's biggest one-day stock gain since 2001.