Best Buy was only planning to make Apple Watches available in 30 of its stores. The consumer electronics company has been selling the gadgets for a few weeks now, and its buyers' high demand for the product prompted the company to have it widen its distribution — like across 1,050 retail stores in the United States.
In addition to the retail stores, The Apple Watch will also be supplied to 30 of Best Buy's mobile stores. The company's CEO, Hubert Joly, said that at the start of September, the smartwatches would be available in 900 of its "big box" stores, and to all its 1,050 "big box" stores by the end of the same month, Value Walk learned.
In the recent call of CEO Joly with the Wall Street analyst, Joly confirmed that the demands for Apple Watch were strong both in the stores and online, Fortune reported.
During the second quarter, Best Buy reported a 3.8 percent domestic comparable sales, which exceeded Wall Street's expectations. There was an increase of 89 percent in the shares trading for Best Buy from its previous session's volume, as per the report of Sleek Money.
The reported earnings per share (EPS) for the quarter was $0.49. The company also beat the analysts' earnings expectation of $8.29 billion, for this quarter, as they reported a total income of $8.53 billion.
Though Best Buy has been receiving good returns, in terms of profit, from the products under smart homes and home theater categories, it was reported that the company was getting a lot of help from Apple products.
So, in addition to the distribution of Apple products, particluarly the best-seller smartwatches, among Best Buy retail and online stores, the company will start selling AppleCare product service and support.
Analysts predict that the business relationship of Best Buy and Apple will go a long way. Cheers to the giant companies!
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