(MENAFN) Best Buy shares raised 19% after the retailer reported quarterly profits higher than expected, helped by stronger online sales and a housing recovery that sparked demand.
The largest US electronics retailer raised its fiscal earnings and reported an increase in sales at stores open at least a year.
Moody's analyst Charlie O'Shea said: "Given the heavily promotional July environment due to Amazon's Prime Day and Wal-Mart's steady diet of competing offers, Best Buy's online results stand out."
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.