About 900 Best Buy and Best Buy Mobile stores will be open by early May, with the rest open by early summer.
Janney Capital Markets analyst David Strasser said the deal is an example of Best Buy making merchandising progress. He said it may be a wake-up call that will convince other vendors, like Google, Microsoft and Sony, to invest more with Best Buy.
Best Buy shares rose $3.48 or 16.1 percent, to close at $25.13 Thursday, after briefly reaching a 52-week high of $25.30. The stock has more than doubled since the start of the year.