Best Buy Beats Street By Becoming An Apple Store

Posted: Aug 25 2015, 12:12pm CDT | by , in News | Latest Business News

 

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Best Buy Beats Street by Becoming an Apple Store

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Best Buy's Q2 earnings numbers beat the street. Stock soars 15%.

Best Buy has turned around in an impressive manner. The consumer electronics chain reported domestic revenue of $7.9 billion which is an increase of 3.9% versus last year.

In the earnings call Best Buy CEO Hubert Joly said that the Apple Watch is off to a strong start. Best Buy currently offers the Apple Watch in 100 stores, but plans to roll out the Apple product to all 1,050 stores be the end of August.

Best Buy will also upgrade its Apple Store setups in time for the crucial holiday shopping season that include Black Friday and Cyber Monday sales events. A couple days ago it got revealed that Best Buy will start selling AppleCare and AppleCare+ plans. This has the potential to add a lot of revenue.

Joly also revealed on the earnings call according to Apple Insider that there is pilot program in 50 stores that will be Apple Authorized Service providers.

By becoming more of an Apple Store, Best Buy found success again. Best Buy has become one of the best stores to find discounts on Apple products. Let's hope the closer tie-in with Apple will not affect the deep discounts.

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The Author

<a href="/latest_stories/all/all/2" rel="author">Luigi Lugmayr</a>
Luigi Lugmayr () is the founding chief Editor of I4U News and brings over 15 years experience in the technology field to the ever evolving and exciting world of gadgets. He started I4U News back in 2000 and evolved it into vibrant technology magazine.
Luigi can be contacted directly at ml@i4u.com.

 

 

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