Proving yet again that electronics is the place to be (just so long as your not RadioShack) Best Buy reported a sizzling quarter ending February.
Earnings rose 13% in the quarter, as consumers spent more on big-ticket items like flat-panel TV's, digital music players and laptops. Revenue rose across all of its channels, led by a 50% upswing in online sales.
Demand for flat-panel TVs and MP3 players drove a 17.7% jump in same-store sales of consumer electronics. No wonder they're always out of iPods! And Best Buy expect to beat analyst expectations for 2006 with revenues around $35bn.
They certainly have cracked successful electronics retailing in the US. Now lets see if they can do it abroad as well.
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