Best Buy raises outlook after earnings jump 70 percent
August 24, 2021
Best Buy said its same-store sales grew 20 percent in the second quarter and that earnings were up 70 percent on a year-over-year basis. “W are fundamentally in a stronger position than we expected just two years ago,” said Corie Barry, Best Buy CEO, in a statement. “There has been a dramatic and structural increase in the need for technology. We now serve a much larger install base of consumer electronics with customers who have an elevated appetite to upgrade due to constant technology innovation and needs that reflect permanent life changes, like hybrid work and streaming entertainment content.”
Recent News
United Airlines Expands Focus on Africa
As travel demand evolves post-pandemic, United Airlines is strategically adjusting its routes to meet changing preferences.
TikTok Implements Stricter Measures on State-Affiliated Media
In a significant move to curb foreign influence during a crucial election year, TikTok is enacting new rules to limit the reach of state-affiliated media accounts on its platform.
BARK Air Debuts the Ultimate Travel Experience for Dogs and Their Owners
There’s a new airline catering to pups that provides the ultimate luxury for man’s best friend.
Justice Department Files Suit Against Live Nation
An antitrust lawsuit accuses the company of monopolizing live event ticketing.