| Best Buy Profit Nearly Doubles in Quarter, With Online Sales Up 22%
The New York Times, November 21, 2014 Friday
Cost-cutting and an improved web strategy helped Best Buy almost double its profits in the third quarter, the retailer indicated on Thursday. The earnings report signaled to analysts that the company was on solid footing heading into the holiday shopping season. ''Retailers, a year or two ago, were sort of 'Oh my gosh, we've got to compete with online,' and maybe the business grew a little, but it wasn't a cohesive omni-channel strategy,'' said David Schick, an analyst with Stifel Nicolaus,...