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Best Buy comes roaring out of the pandemic era with 37% sales growth


Dive Brief:
Reporting against a period last year when its stores were closed and sales were down, Best Buy s comparable sales grew 37.2% across its business in the first quarter of 2021.
Best Buy has progressed beyond its pre-pandemic performance as well. Against 2019 s performance, Best Buy s top-line sales grew more than 27%.
CEO Corie Barry called customer demand extraordinarily high in Q1, driven by government stimulus and consumer focus on their homes, including working, learning, cooking, entertaining, redecorating and remodeling, Barry said in a press release.
Dive Insight:
Best Buy enjoyed a blockbuster quarter on most metrics. Along with blistering sales growth, the company s operating income more tripled from last year at this time, coming in at $769 million in Q1. ....

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Target's comp sales up 23% as its private brands hit record growth

Target's comp sales up 23% as its private brands hit record growth
retaildive.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from retaildive.com Daily Mail and Mail on Sunday newspapers.

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