Top
image credit: Unsplash

Best Buy says online sales in U.S. surged 242% in second quarter, but shares slide as gains may be short-lived

August 25, 2020

Via: CNBC
Category:

Best Buy on Tuesday reported strong second-quarter sales growth, helped by its biggest quarterly increase in online sales ever, as customers bought computers, kitchen appliances and other tech to help them work, cook and attend school at home during the coronavirus pandemic.

Online sales shot up 242% in the U.S. compared with the prior year, as the website drew higher traffic and more people converted from browsing to buying.

Read More on CNBC