Why Best Buy Stock Was Gaining Today

Shares of Best Buy (NYSE: BBY) were moving higher today after the electronics retailer issued a surprising sales update, saying that revenue was actually higher quarter to date through July 18. Investors responded enthusiastically to the news, sending the stock up 7.4% as of 12:33 p.m. EDT.

In a business update, the retailer said that quarter-to-date sales were up 2.5%, rising 2% domestically and 8% internationally. It also said sales had surged 15% since the company began allowing shoppers inside stores without an appointment on June 15.

Image source: Best Buy.

Source Fool.com