Business & Tech
Best Buy Says ‘Turnaround Plan’ is Working
The company reported that second-quarter earnings were up.
According to Twin Cities Business Magazine, Best Buy, based in Richfield, is having a better quarter than last.
“Shares of Best Buy Company’s stock climbed Tuesday after the company reported an increase in second-quarter earnings and said that its turnaround plan is working,” wrote reporter Jake Anderson.
Best Buy has seen increased revenue since a new CEO took the reins last year, Anderson reports, noting that in 2012, the company’s stock was down by 50 percent. A rise in earnings is attributed to cutting back expenses by roughly $390 million.
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