Scalper1 News
After years of being a de facto showroom for Amazon.com (AMZN), consumer electronics chain Best Buy (BBY) now considers itself to be an “online first” retailer. Best Buy CEO Hubert Joly made that pronouncement during a conference call with analysts early Thursday to discuss fiscal fourth-quarter results. Here’s IBD’s report. “The front door of our shopping experience is online,” Joly said. “Customers start their shopping experience online. That’s why our strategic investments in the online shopping experience (are) fundamental.” Best Buy still says its brick-and-mortar stores are an important competitive advantage, but the company has clearly intensified its focus on the online sales channel. “Throughout the company, it’s online first,” Joly said. Online sales were a bright spot during the holiday sales quarter, Joly said. U.S. online sales rose 25.8% to $1.57 billion in Q4. Online accounted for 12.7% of the company’s total sales, up from 10% a year Scalper1 News
Scalper1 News