(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. 

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