Best Buy ($BBY@US) topped Wall Street’s quarterly earnings expectations in its most recent quarter, although sales fell short of estimates. The electronics retailer's first-quarter net income dropped to $244 million from $341 million a year earlier, and net sales also declined by 11% to $9.47 billion. The company is pursuing alternative revenue sources, such as partnering with Atrium Health to sell devices and handle the installation for home-care patients. It has also revamped its membership program, My Best Buy, and laid off store employees while planning to increase its workforce in growing sectors like health. Best Buy's stock is down about 14% for the year, trailing behind the S&P 500 and the retail-focused XRT.
