THE NEWS: Best Buy's net income rose in the second quarter, as the struggling electronics retailer slashed costs and worked to make its website more competitive.
THE CONTEXT: Best Buy Co. has been shuttering underperforming stores and revamping others to offset tough competition from discounters and online retailers. Under CEO Hubert Joly, the company has instituted a price-matching policy, opened more in-store areas for manufacturers such as Apple and Samsung and invested more to train employees.
WEB FOCUSED: The company is working improve its website by adding more search capabilities and product reviews by customers and adding ship-to-store options.
- Consumer Discretionary
- Best Buy
- Hubert Joly