GoPro Inc GPRO announced on Friday that it will triple its in-store presence with Best Buy Co Inc BBY.
This news came on the heels of GoPro releasing its new HERO4 camera, which is expected to result in growing sales for the company. Sales begin on October 5.
The in-store presence will be enhanced by using a 12-foot display and 40-inch monitor.
According to the company’s press release, "This expansion will provide GoPro with a significant increase in shelf space from one of our biggest retail partners in North America," said GoPro Senior Vice President of Intergalactic Sales, Jonathan Harris. "We're excited to offer our customers a more compelling experience at most Best Buy locations each time they interact with our products in the store."
The retail expansion with Best Buy has been timed to maximize impact during the holiday season and drive more sales for GoPro’s new premium camera.
GoPro Inc traded recently at $89.13, up $3.33 or 4.3 percent. Shares dropped 6.9 percent on Thursday on news that JP Morgan agreed to free up 5.8 million shares from lock-up via gifting to the Jill and Nicholas Woodman Foundation.
Best Buy was also up almost $1, or 2.75 percent, trading around $33.62.
For a technical look at GoPro Inc's performance since its IPO in July, read here. Shares are up 182 percent since the July 27 IPO.
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