Best Buy Credits an 'Opportunity-Rich' Tech Environment for Lifting Sales in the First Quarter

Best Buy (NYSE: BBY)this week posted surprisingly strong sales growth that management said was driven by robust demand across its consumer tech and appliance categories. The retailer had a few pieces of bad news for investors in this report, including a decline in profitability and slower e-commerce sales gains.

But overall the announcement marked a good start to Best Buy's fiscal year.