MENU

Best Buy tops expectations on cost cuts, web sales

August 21, 2013 • Business


In this Monday, Aug. 19, 2013 photo, shoppers walk toward the parking lot at a Best Buy store in Hialeah, Fla. On Tuesday, Aug. 20, 2013, Best Buy announced that the company’s net income rose sharply in the second quarter, as the struggling electronics retailer slashed costs and worked to make its website more competitive. (AP Photo/Alan Diaz)

MINNEAPOLIS (AP) — Best Buy’s net income rose sharply in the second quarter, as the struggling electronics retailer slashed costs and worked to make its website more competitive.

The nation’s biggest specialty electronics company beat Wall Street expectations and its shares surged over 13 percent to $34.82, marking a two-year high, before closing at $34.80. The stock has risen from a low of $11.20 around the end of 2012.

Best Buy Co. has been shuttering underperforming stores and revamping others to Login to read more

Related Posts

Comments are closed.

« »