Best Buy Turned Pandemic Lemons Into Lemonade
Many retailers have adapted and evolved in the wake of the coronavirus pandemic. But few have done so as well as consumer electronics name Best Buy (NYSE: BBY).
Last quarter's numbers point in that direction. Same-store sales improved 5.8% year over year despite coronavirus-related shutdowns, and companywide revenue grew 4% for the three-month stretch ending in June. That's impressive, particularly given the circumstances.
Where the retailer has proven truly impressive, however, is beyond the numbers. Best Buy took a methodical, well-reasoned approach in its response to tricky situations and applied solutions that will continue to work after COVID-19 is in the rearview mirror.
Source Fool.com
