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3-2-18 best buy, kohls report strong sales

todayMarch 2, 2018

NEW YORK (AP) — Best Buy, Kohl’s, Gap and Nordstrom all reported strong sales during the quarter that includes the holiday season, a sign of success as retailers learn to steady themselves — and work with — online companies.  At Best Buy, sales at established stores rose 9 percent. That’s a big turnaround in a key measure from a year earlier, when they dipped 0.9 percent. The consumer electronics retailer also topped Wall Street’s profit and revenue expectations, and gave an upbeat outlook.  Meanwhile, Kohl’s enjoyed a 6 percent increase in sales at established stores, its largest such gain since 2001. Business was helped by more customers both coming into the stores and shopping online. Its profit also was better than expected as it offered fewer discounts. Kohl’s, based in Menomonee Falls, Wisconsin, also said Thursday it has teamed up with no-frills grocery chain Aldi to lease space in five to 10 stores.

Written by: Radio Plus

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