Best Buy’s Comparable Sales Grow 23 Percent in Third Quarter

by Alex Tostado

Richfield, Minn. — Best Buy Co. Inc. reported that its comparable-store sales grew 23 percent in the third quarter compared with the same period a year ago, a figure CEO Corie Barry called “remarkable.” The Richfield-based retailer’s third quarter ended Oct. 31. Barry cited the company’s supply chain expertise, flexible store operating model and ability to shift quickly to digital for the growth in sales. Best Buy’s domestic online sales grew 174 percent in the third quarter. Barry also explained that there is an elevated demand for products that help customers work, learn, cook, entertain and connect from home throughout the pandemic that is accelerating Best Buy’s growth.

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