Best Buy's earnings at a 2-year high as turnaround takes effect

08/20/2013 | Bloomberg Businessweek · USA Today

Best Buy reported its best quarterly earnings results in two years, as cost-cutting measures put in place by CEO Hubert Joly took effect and a price-matching policy stemmed the tide of slowing in-store sales. Second-quarter profit rose to $266 million from $12 million last year, and the retailer's online sales rose 10.5% to $477 million through a combination of higher traffic and bigger orders, the company said.

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Bloomberg Businessweek · USA Today

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