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Tuesday, Aug 20
Best Buy makes forward progress in Q2, shares rally
- Best Buy (BBY) beats estimates as strong online sales helped make up for a slip in comparable store sales.
- Despite not putting in a powerhouse quarter, substantial forward progress was made by Best Buy. In the U.S., comp sales were down 0.4% vs. -1.1% prior. Costs and the impact of a new pricing strategy were also better than anticipated.
- Mobile phone and appliances were strong categories during Q2. (PR)
- BBY +10.4%