Best Buy Soars After Nintendo Switch Helps Bring Surprise Growth
- CEO cites gaming demand for unexpectedly strong performance
- Nintendo device, which debuted on March 3, also lifted Target
Best Buy Surprises on Nintendo Switch Sales Boost
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Best Buy Co. got a boost from Super Mario in the first quarter, as demand for Nintendo Co.’s new Switch game console helped the retailer post a surprise sales gain.
Comparable-store sales -- a closely watched benchmark -- rose 1.6 percent, the company said on Thursday. Analysts had predicted a decline. Best Buy’s earnings also topped analysts’ projections, sending the shares to a record high with their biggest rally in nine months.