Best Buy Shares Surge

Best Buy

Best Buy shares are up today after the company’s earnings beat expectations. Corie Barry, Best Buy’s CEO, said, “We are delivering on our purpose to enrich lives through technology by providing customers the products and solutions they want and need, combined with fast and convenient fulfillment.”

Best Buy is also touting some competitive holiday plans. They will offer next-day delivery on thousands of products (no minimum purchases or membership plans required), and they have streamlined their order online/pick-up at the store service. They know who the competition is, and they know the consumer value proposition (CVP) of their convenience offerings are compelling.

At yesterday’s market close, Best Buy shares were up 40% YTD. This is remarkable considering that, last quarter, their shares tanked because people were scared off by the potential impact of tariffs.

Is there anything to be learned about the future of retail from this earnings call? Probably not. Amazon is a category killer, and it is also having a fine quarter. You can’t walk outside in NYC without tripping over a mountain of cardboard boxes with banana smiles on them. But kudos where kudos are due. Best Buy not only beat Wall Street expectations, but they are fighting the good fight. Consumers will be the winners.

 

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Author’s note: This is not a sponsored post. I am the author of this article and it expresses my own opinions. I am not, nor is my company, receiving compensation for it.

About Shelly Palmer

Shelly Palmer is a business advisor and technology consultant. He helps Fortune 500 companies with digital transformation, media and marketing. Named LinkedIn's Top Voice in Technology, he is the co-host of "Think About This with Shelly Palmer & Ross Martin" on the Westwood One Podcast Network. He covers tech and business for Good Day New York, writes a weekly column for Adweek, is a regular commentator on CNN and CNBC, and writes a popular daily business blog. Follow @shellypalmer or visit shellypalmer.com

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