Best Buy's Secrets to Defying the Retail Curse
Best Buy's (NYSE: BBY) stock has been on a roll, rising 110% over the last five years, more than double the S&P 500, despite confronting stiff price competition from heavyweights such as Walmart, Target, and Amazon.com. How has the company been able to defy the curse that has impacted many other retailers going up against these big rivals?
One answer is that Best Buy continues to watch costs while pursuing growth, exceeding its $600 million annual cost reduction target earlier this year and beating its timeline by more than a year. With the company already achieving more than $2 billion in savings over the last seven years, management outlined a new $1 billion goal that it expects to reach in five years.
But Best Buy also has other ways that it's defying the retail curse.
Source Fool.com
