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Best Buy beats quarterly sales estimates on stable demand
Aug 28, 2025 4:19 AM

Aug 28 (Reuters) - Best Buy ( BBY ) posted a surprise

rise in second-quarter sales on Thursday, driven by strong

online sales and a surge in demand for artificial

intelligence-powered computers, mobile phones and other devices.

However, shares fell 2% in premarket trading as the top U.S.

electronics retailer maintained its annual sales and profit

forecasts. The stock is down about 12% this year.

Best Buy ( BBY ) has posted three straight years of declining

sales, following the pandemic era sales boom, as cautious

consumers increasingly dodge higher prices by waiting for

attractive deals during key promotional periods such as

back-to-school and holiday shopping events.

Comparable sales for the quarter ended August 2 rose 1.6%,

compared with analysts' average expectations of a 0.52% drop,

according to data compiled by LSEG.

The company expects comparable sales for fiscal year 2026 in

the range between a 1% drop and a 1% rise and an adjusted profit

of between $6.15 and $6.30 per share.

(Reporting by Savyata Mishra in Bengaluru; Editing by Anil

D'Silva)

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