Shares of consumer electronics retailer Best Buy (NYSE:BBY) popped after the company beat earnings this quarter, bringing the stock up to the tune of 200% year to date. Much of the earnings beat was due to the company's successful implementation of several of its Renew Blue initiatives to cut costs, but some investors worry that the company can trim only so far. Is this earnings beat indicative of a true turnaround for the bricks-and-mortar retailer? In this video, Motley Fool consumer-goods analyst Blake Bos tells us why Wall Street has way overblown the death of Best Buy and the end of bricks-and-mortar retailers, and why there may be several reasons to believe in Blue today.
Blake Bos and The Motley Fool have no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.