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Best Buy Buoyed By Major Appliances

Best Buy is making up for lost time by building up it appliance business. Long a stepchild to big-screen TVs, the category is now buoying the bottom line for the CE chain and other margin-hungry tech dealers.

“The Minneapolis-based retailer, which operates 1,400 stores in the United States, is focusing on growth again after some analysts feared it was flirting with bankruptcy just a few years ago, hurt by the rise of Inc (AMZN.O). It is now in the third phase of a turnaround plan engineered by Chief Executive Officer Hubert Joly, who took over in August 2012.”

Read More at Reuters