Best Buy shares surge 16 percent on upbeat profit view, robust holiday quarter

The company, which cited the frenzy for battle royale game “Fortnite” for a boost in sales of gaming gear, also announced an 11 percent boost to its quarterly dividend and a plan to buy back $3 billion of stock.

Best Buy’s report comes after a largely disappointing holiday season for retailers, which have struggled to compete with online sellers such as Inc. Best Buy has managed to ward off pressure from Amazon by focusing on customer services that has helped drive both store and online sales.