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Best Buy Co., Inc.

Best Buy posts higher profit, better online and store sales

Best Buy's profit jumped 21 percent as the nation's largest consumer electronics retailer increased sales online and tried to create a better shopping experience in the stores while it also cut costs.

Its shares soared 19 percent after the company said online sale rose 24 percent to $835 million, a beacon for investors who have watched Amazon.com eat away at the sales of almost every traditional retailer. The stock surge marked the largest daily percentage increase since mid-December 2008.

Revenue at established stores, an important measure of a retailer's health, also managed a gain of 0.8 percent when Wall Street, according to a survey by FactSet, had expected a decline of...

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