Friday, 07 May 2021 08:12 GMT

Growth in Best Buy Co. quarterly Profits

( 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."

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