Headquartered in Richfield, MN, Best Buy Co. BBY is a specialty retailer that offers a wide selection of consumer electronics, home office products, entertainment software, home appliances, cell phones, and even health and wellness products. The company has two key segments, Domestic Operations and International Operations, and does business throughout the U.S., Canada, and Mexico.Q1 Earnings RecapWhen Best Buy released its first quarter report last month, investors and Wall Street were expecting big results, and the retail chain more than delivered.Sales for the period spiked 37% to $11.6 billion compared to $8.6 billion in the year ago quarter and $9.1 billion in Q1 2019. Best Buy’s top line continued to benefit from an almost perfect selling environment: cash rich customers focused on upgrading their home.Even more impressively, U.S. sales jumped 38%.Profit margins increased as well, but rising costs in fulfillment and labor weighed on its bottom line a bit. Non-GAAP diluted EPS came to $2.23 per share, and operating margin rose to 2.2% of sales.“The year has clearly started out much stronger than we originally expected [and] sales momentum is continuing into Q2,” said CFO Matt Bilunas.Can BBY Surge Higher? Year-to-date, shares of BBY have been a little volatile, up about 11% compared to the S&P 500’s 16.3% increase. Earnings estimates have been rising too, and BBY is a Zacks Rank #1 (Strong Buy) right now.For fiscal 2022, 10 analysts have revised their bottom-line estimate upwards in the last 60 days, and the Zacks Consensus Estimate has moved up $1.24 to $8.53 per share for the same time period. Earnings are expected to grow about 7.8% compared to last year. Fiscal 2023 looks strong too.Looking ahead, comparable sales are expected to rise between 3% and 6% for 2022 compared to the 1% increase the company had originally forecasted. Comparisons will be tough for Best Buy (and many other retailers) as the economic reopening accelerates; management is also concerned that consumers may spend less on home tech purchases in favor of more travel and dining out.But, the overall sentiment on BBY is bullish, and investors can take comfort in the company’s attractive valuation—shares only trade at 12.7X forward earnings—as well as its solid 2.6% dividend yield.If you’re an investor searching for a retail stock to add to your portfolio, make sure to keep BBY on your shortlist.Breakout Biotech Stocks with Triple-Digit Profit PotentialThe biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.See these 7 breakthrough stocks now>> Breakout Biotech Stocks with Triple-Digit Profit Potential The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases. Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.See these 7 breakthrough stocks now>>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Best Buy Co., Inc. (BBY): Free Stock Analysis Report To read this article on Zacks.com click here.