Best Buy profit surged a better-than expected 21% in the second quarter ended July 30, rising to $198 million from $164 million in the year-ago period.
Best Buy’s overall revenue totaled $8.5 billion, which was basically flat with last year, but also better than expectations.
Domestic revenue totaled $7.9 billion. Same-store sales in the U.S. rose 0.8%, better than the chain had forecast, which helped offset the loss of revenue from the closings of 12 Best Buy locations and 22 Best Buy Mobile stores.. . . more