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Los Angelas, CA -- (SBWIRE) -- 01/11/2013 -- Best Buy Co., Inc. (NYSE:BBY) is a multinational retailer, which provides consumer electronics, home office products, entertainment products, appliances and related services. The company operates through two business segments: Domestic and International. The Domestic segment is comprised of the operations in all states, districts and territories of the U.S., operating under various brand names, including but not limited to, Best Buy, Best Buy Mobile, Geek Squad, Magnolia Audio Video, Napster and Pacific Sales. The International segment is comprised of all operations outside the U.S. and its territories, which includes Canada, Europe, China, Mexico and Turkey. The company also markets its products under the brand names: Best Buy, Audiovisions, Best Buy Mobile, The Carphone Warehouse, Five Star, Future Shop, Geek Squad, Magnolia Audio Video, Napster, Pacific Sales and The Phone House.
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Best Buy (NYSE:BBY) silenced doubters with a better than 5% advance, after announcing that its online sales have improved in various markets where e-tailer Amazon.com (NASDAQ: AMZN ) now has to collect sales tax. According to Best Buy spokesperson Amy von Walter in a conversation with Reuters, online sales in California, Texas, and Pennsylvania -- three states where Amazon began collecting tax revenue -- have seen a 4% to 6% jump in sales. I'd hardly say this puts Best Buy's online department on great footing, as it still accounts for less than 10% of total sales; but investors clearly haven't given Best Buy nearly enough credit for what could be an amazing turnaround in 2013. Shares of Best Buy Co., Inc (NYSE:BBY) are trading at $12.21 and is +0.18% from its 50-day Moving Average price of $12.1876 and -25.87% from its 200-day Moving Average price of $16.4704. The average trading volume is 9008350 shares and its market capitalization is $4.128B.
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