Best Buy Aims to Double E-Commerce Revenues to $4B in 5 Years

Best Buy has set a goal of doubling its $2 billion in annual online revenues within the next three years to five years as it reduces its total brick-and-mortar store square footage by 10 percent. Best Buy executives say these decisions, announced at its recent 2011 Investor and Analyst Day, are based on overall traffic growth, driven primarily by the company's web properties.