Why Best Buy's Reopening Is Not a "Sell the News" Event
When people look back on how businesses fared during the COVID-19 pandemic, many may see Best Buy (NYSE: BBY) as one of the relative surprises. Despite its stores remaining largely closed since late March, the company escaped the quarter with a relatively modest drop in revenue.
Now, Best Buy is reopening more than 800 of its stores. Some might perceive such an event as a reason to sell a stock. However, as the company transitions back to normal operations, investors have an opportunity to buy a robust retailer at a reasonable price.
Best Buy switched to a "curbside-only" operating model on March 22. This allowed customers to pick up online orders and receive deliveries of large items when local regulations permitted. At that time, it also suspended in-home installations and repairs. Those resumed on April 27 following strict guidelines.
Source Fool.com
