Behind The Scenes Of Best Buy's Record-Setting Turnaround With Hubert Joly forbes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from forbes.com Daily Mail and Mail on Sunday newspapers.
(Photo by FREDERIC J. BROWN/AFP via Getty Images)
Best Buy laid off about 5,000 employees earlier this month as the electronics retailer focuses more on online sales.
COVID-19 forced many of the company’s big box stores to temporarily close in 2020. However, demand for Best Buy’s online sales channels has been booming.
During this past fourth quarter, the company’s online sales grew almost 90 percent year-over-year. The e-commerce buys also accounted for 43 percent of the Best Buy’s total domestic sales during the period.
“In Q4, first time launches of the (Best Buy) app were up almost 80%,” added company CEO Corrie Barry in an earning’s call.
CES 2021 â setting the tone for the consumer industry Gary Shaprio, President and CEO, Consumer Technology Association The first ever all-digital CES took place last month and below we consider some of the key trends, and take a look at some of the technology that was on show. By Neil Tyler.
Over many decades CES has not only marked the start of a new year, but has helped to set the tone for the consumer industry. Despite the global pandemic the organisers of CES were able to hold the first-ever, all-digital show using technology to connect people across different digital platforms.
Operator
Good morning. Welcome to Kimco s Fourth Quarter 2020 Earnings Conference Call. [Operator Instructions] After today s presentation, there will be an opportunity to ask questions. [Operator Instructions]
I would now like to turn the conference over to David Bujnicki, Senior VP, Investor Relations & Strategy. Go ahead.
David F. Bujnicki
Senior Vice President, Investor Relations & Strategy
Good morning, and thank you for joining Kimco s Fourth Quarter 2020 Earnings Call. The Kimco management team participating on the call today include Conor Flynn, Kimco s CEO; Ross Cooper, President and Chief Investment Officer; Glenn Cohen, our CFO; David Jamieson, Kimco s Chief Operating Officer; as well as other members of our executive team that are also available to answer questions during the call.