Best Buy hikes sales forecast as shoppers upgrade tech, splurge on devices

CNBC.com ^ | Tue, Nov 25 20257:14 AM EST | Melissa Repko

[E. Pluribus Unum]

KEY POINTS

• Best Buy hiked its full-year sales and earnings outlook.
• The consumer electronics retailer said it saw tech upgrades and strong sales of computers, gaming consoles and smartphones during the fiscal third quarter.
• The company’s annual sales have declined for the past three years.

Best Buy hiked its full-year forecast Tuesday, as it topped Wall Street’s quarterly sales expectations and customers turned to the retailer to upgrade laptops and splurge on new gaming consoles and smartphones.

The consumer electronics retailer said it now expects revenue of between $41.65 billion to $41.95 billion for the full year, higher than its previous range of $41.1 billion to $41.9 billion. It expects adjusted earnings per share of $6.25 to $6.35, compared with its prior range of $6.15 to $6.30.

Best Buy said it expects full-year comparable sales, a metric that tracks sales online and at stores open at least 14 months, to range between a 0.5% rise to a 1.2% increase, compared with its previous expectations for a 1% decline and a 1% climb.

On the company’s earnings call, CEO Corie Barry said Best Buy saw “better-than-expected” sales in the quarter because of strong results across computing, gaming and mobile phones, as well as growth in wearables and headphones. She said sales rose across both its website and stores.

She said customer shopping behavior in the most recent three-month period was about the same as what Best Buy has seen for the past several quarters.

“Customers remain resilient, but deal focused and attracted to more predictable sales moments,” such as back-to-school sales and Best Buy’s October sale that coincided with Amazon’s Prime Day event, she said.

And she said, “while customers continued to be thoughtful about big ticket purchases in the current environment, they are willing to spend...

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[escapefromboston]

I’m surprised Best Buy is still around. Good for them!

[MrRelevant]

Im sure it is just billionaires out shopping

[Sarah Barracuda]

We got our tvs from Best Buy plus geek squad protection plan so far so good it’s worth it they cover burn while other retailers don’t

[wally_bert]

I haven’t bought from BB in many years.

Off topic a little, Dell has good deals on monitors.

I’ve bought a few 24’s for my old pc towers and docking stations that are or will be Linux stations.

[Kleon]

So many people are buying now because they expect prices to soar on tech stuff. RAM prices are going to be a huge problem with no easy solution.

[real saxophonist]

I work at a large retailer. A lot of people came in and bought things like TVs and air fryers a few months back because of the tariff panic.

[metmom]

Count me out

I don’t need/want any new tech or devices.

[central_va]

Another store front for offshored manufacturing.

[Ciaphas Cain]

I once worked at Best Buy. It was a pretty solid company. Though that was in summer-fall of 2001.

It was 9/11 that did my job in. We lost a LOT of business in the aftermath of that. On the night of 9/11, only five people came into the store. None of them bought anything. They each had the "thousand yard stare" in their faces. It was like they just came in to escape feeling the outside world, then they wandered back out. It was quite something to behold.