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Expand chart
Data: FactSet; Chart: Axios Visuals

One company bucking the woeful news from the world of retail is Best Buy, which saw its stock price hit a record high Monday.

What's happening: Last week Best Buy announced that sales have increased from last year despite the coronavirus pandemic. It also has promised permanent wage increases for employees.

  • The retail chain said that sales in the second quarter rose 2.5% from the same period in 2019, and have risen 15% since stores began reopening June 15, per MarketWatch.

Between the lines: Best Buy managed to hang onto its sales numbers through appointment-only visits that held visit rates at around 40% of normal levels in the early stages of the recovery, notes foot traffic analysis firm Placer.ai.

  • Placer.ai analysts argue "the best might still be on the horizon with a critical back-to-school season dovetailing with a rise in the value and importance of the home office."
  • "Even the potential for college students to be working remotely could drive an increase in the need for at-home technologies."

Go deeper

Updated Oct 30, 2020 - Economy & Business

Walmart reverses decision to pull guns, ammunition from U.S. stores

Photo: Blake Nissen/The Boston Globe via Getty Images

Walmart announced it will be returning guns and ammunition to sales floors one day after the company said it would remove all firearm displays from its 4,700 U.S. stores to prevent theft amid social unrest.

What they're saying: A Walmart spokesperson told Axios the retailer reversed the decision because the most recent looting incidents "have remained geographically isolated."

Buffett eyes slow U.S. progress, but says "never bet against America"

Warren Buffett in New York City in 2017. Photo: Daniel Zuchnik/WireImage

Warren Buffett called progress in America "slow, uneven and often discouraging," but retained his long-term optimism in the country, in his closely watched annual shareholder letter released Saturday morning.

Why it matters: It breaks months of uncharacteristic silence from the 90-year-old billionaire Berkshire Hathaway CEO — as the fragile economy coped with the pandemic and the U.S. saw a contentious presidential election.

Restaurant software meets the pandemic moment

Illustration: Annelise Capossela/Axios

Food delivery companies have predictably done well during the pandemic. But restaurant software providers are also having a moment as eateries race to handle the avalanche of online orders resulting from severe in-person dining restrictions.

Driving the news: Olo filed last week for an IPO and Toast is rumored to be preparing to do the same very soon.