Best Buy's billionaire (BBY) founder Richard Schulze said his retailer was "late to the game" when it comes to online shopping.
"[Amazon (AMZN) ] introduced the whole concept of online retail where consumer could buy a wide variety of products without experiencing an in-store form of connection," Schulze said in an interview with TheStreet. "We were late to the game, but we're catching up nicely."
Some 15% of Best Buy's business comes from online, according to Schulze.
Best Buy shares are up 5.7% since the start of the year.