Posted at: 04/05/2013 6:49 AM
Shares of Best Buy jumped after it announced plans to create store-within-store kiosks for Samsung products - a vote of confidence from a consumer electronics retailer that the brick-and-mortar format is still an important way to sell products.
Best Buy shares rose nearly 12 percent in morning trading. Best Buy has battled the "showrooming" effect as more and more people browse in stores and then buy items cheaper online. This has led to fears that the big-box store format is growing obsolete.
But the Minneapolis company has aggressively fought back under new CEO turnaround expert Hubert Joly - introducing an online price matching policy and cutting costs.
About 900 Best Buy and Best Buy Mobile stores will be open by early May with the rest open by early summer.