Best Buy Beats Analyst Estimates and Fitness Gear Is Flying Off the Shelves
Best Buy just reported its third-quarter earnings and its online sales growth really saved the day for the company. As for same-store sales, they didn’t clock in anything horrendous with sales growing by 23% in the quarter.
In the United States, online sales grew by 174%. This really goes to show to what extent people have moved to e-commerce to fulfill their electronic desires. As consumer habits change, having established the proper system to follow the times is crucial to keeping your company healthy and ahead of the game. Best Buy’s stock is up 30% year to date but fell slightly after the release.
Dick’s Sporting Goods
E-commerce sales have surged across the board. For Dick’s Sporting Goods, that is music to their ears. During the third quarter, e-commerce sales grew by 95%, indicating that consumers have turned to online shopping to meet their sport related needs.
Dick’s has been cashing in big on demand for at-home workout gear with gyms having shut down in many areas of the world. It’s also being said that the company has been doing very well in the golf category. Year to date, company shares are up over 15%.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.