Why Best Buy Stock Is Up 31% So Far This Year

Shares of consumer electronics retailer Best Buy (NYSE: BBY) have surged 31% year to date, according to data from S&P Global Market Intelligence. The stock rose along with the market during the first half of the year, and a strong first-quarter report in May helped propel it to a new all-time high.

Best Buy's successful turnaround began in 2012. The company slashed unnecessary costs, mostly by removing layers of management and making its supply chain more efficient. It also lowered prices and invested in its e-commerce business.

Image source: Best Buy.

Source: Fool.com