Best Buy, Retail | featured news

Buried in a story on Best Buy's retail strategy, CEO Brian Dunn mentioned a startling fact: Internal estimates showed that the iPad had cannibalized sales from laptop PCs by as much as 50%.

Best Buy's earnings jumped 61% as the retailer rebounded from a weakened year-earlier quarter on higher revenue and margins.

Since edging out WalMart in 2008 to become the top music retailer, Apple has increased its lead with iTunes and is now outselling both Walmart and second place BestBuy combined, while handling more than half of all digital music sales in the US.