What's going on?

Go go better-than-expected earnings: Best Buy reported strong quarterly results earlier this week.

What does this mean?

Lockdowns might be over, but Best Buy�s shoppers were still sprucing up their homes with home theaters and kitchen appliances last quarter. That pushed up revenue from US stores that have been open for a year or more, but online shopping was still very much in favor: Best Buy�s online sales were over double what they were before the pandemic set in. That helped the retail giant boost its profit by a better-than-expected 28% compared to the same time last year. The company�s finding ways to keep customers coming back too: it reckons its new fixed-cost membership program � which offers perks like ongoing tech support � will help it stand out from its rivals going forward.

Why should I care?

The bigger picture: It�s too good to be true.
Investors weren�t best pleased, mind you: they sent the company�s shares down 12% after the announcement. Last quarter�s revenue growth was, after all, a big drop from the quarters before, which might be a sign that shoppers have had their fill of big, one-off electronics splurges. Throw in rising costs from shipping and shortages, and things don�t look great for Best Buy�s bottom line in the next few months.

Zooming out: Let there be oil.
At least the US has a plan to help manage those shipping costs: the country announced plans on Tuesday to release some of its oil stockpiles alongside China, Japan, India, South Korea, and the UK � a move that�ll ramp up the supply of the slippery elixir (tweet this). They�re all hoping it�ll help limit the rapid rise of the oil price, which � given its necessity for almost every industry � could put a dent in the global recovery.