Shares of the US consumer electronics retailer Best Buy have showcased upward momentum, returning 8.54% in the last five days, despite the company recently posting a drop in quarterly sales.
Best Buy's sales revenue for the quarter ended May 4 declined by 6.1% to $8.84 billion from $9.46 billion. However, the company managed to preserve its profitability as GAAP net income grew 3.5% on a growing membership base and reduced admin costs.
