Best Buy revealed second quarter results that show its pandemic gains are unlikely to fade any time soon. Sales rose nearly 20% as the habits consumers formed during the global health crisis continued to stick. Best Buy is still a go-to retailer for consumers’ work-from-home technology needs – not to mention stay-at-home entertainment. The retailer is benefiting from its customers’ desire and ability to upgrade their technology to reflect their new normal.
“Over the longer term, we are fundamentally in a stronger position than we expected just two years ago,” CEO Corie Barry said in a press release. “There has been a dramatic and structural increase in the need for technology.”