Best Buy's fiscal third quarter wasn't stellar and heavy promotions took a toll on profit margins. The company's biggest challenge may be doubling down on online sales as it tries to fend off Amazon, which is a big electronics threat.
The focus on e-commerce was evident on Best Buy's earnings conference call. Best Buy CEO Brian Dunn portrayed a company that's transitioning to a multichannel strategy.
Dunn said:As I mentioned earlier, we took a number of actions to drive our business including--running effective promotions across multiple channels; significantly expanding our online assortment; and ensuring … Read more