Best Buy’s Net Profit Falls On Restructuring, As Underlying Business Remains Strong
While the industry declined 5.3% in the quarter, Best Buy’s revenues from these categories saw only a 0.7% decline. This was driven by strong product cycles in large screen televisions and mobile phones and continued growth in the major appliance category. Despite a seasonal decrease in the overall market size in the NPD categories, the company said that they see a genuine customer interest for larger screen televisions driven by new technologies such as 4K. The better customer experience, which differentiates Best Buy from the rest of its competition, is driving a material market share gain in this category, according to the company.

Vía Forbes Real Time