Best Buy Surprises With Strong Sales Growth And Margin Improvement

To everybody's surprise, this quarter's performance was in sharp contrast with that of the previous quarter, when sales stayed flat year-over-year and the bottom line fell due to one-time charges. As the company exceeded expectations on both revenues and profit this time around, the stock jumped by as much as 15% following the results. Comparable sales increased 3.8% compared to a 2% decline during the same period last year and operating margin improved from 2.7% to 3.4%.