Retail

Best Buy (BBY) Q1 2021 earnings fall during pandemic

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David Paul Morris | Bloomberg | Getty Images

Best Buy said Thursday its revenue and earnings fell in the first quarter, despite an initial surge of shopping as customers set up their home offices and prepared for kids to attend school remotely during the pandemic.

The retailer’s sales were also affected later in the quarter, as it decided to shut stores to customers and switch to only curbside pickup outside of them. It also temporarily suspended all in-home installations and repairs.

Best Buy shares fell 2.6% in premarket trading Thursday.  

CEO Corie Barry touted the company’s ability to adapt and keep serving customers, even as it restricted access to its stores. She said it retained…



Source cnbc.com

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