Best Buy withstands Amazon Prime Day pressure with better-than-expected results

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Best Buy can counter Amazon through a mix of its in-store, online, and now, at-home service offerings

Best Buy Co. Inc. can attribute part of its better-than-expected second-quarter result to its ability to withstand the pressure of competing against Amazon.com Inc.’s Prime Day event, according to Moody’s.

Amazon AMZN, +0.85% Prime Day, which took place over 30 hours from July 10 through July 11, grew 60% year-over-year, according to Amazon. The Echo Dot was the bestseller, with Amazon devices like the Fire tablet also selling well.

Best Buy BBY, -11.93% overcame the challenge with a performance that Charlie O’Shea, Moody’s lead retail analyst, calls “impressive on multiple fronts.

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