Even though Best Buy is one of the last big-box consumer electronics retailers still standing, grabbing consumer dollars still takes a lot of work.
This year will be a transition year as the electronics retailer begins to execute its "renew blue" initiatives. While its first-quarter results are not entirely positive, as the nearly 5 percent decline in its stock price suggests, there are early positive signs that the moves are beginning to resonate with consumers.
Online comparable sales in the U.S. are up 16.3 percent for the quarter, though U.S. same-store sales fell 1.1 percent, and total same-store stores are down 1.3 percent. The consumer electronics retailer gives no guidance, but CEO Hubert Joly remains focused on turning around the downward trend.
"Every gene in me is focused on positive comps, and that's true for the entire team," Joly said in a phone interview with CNBC. "We know initiatives will take time to materialize, but every month, every quarter, we after [positive comps.]"