Best Buy CEO Highlights Resilient, Bargain-Hunting Shoppers: ‘Attracted To More Predictable Sales Moments’
Synopsis
The company said it expects fiscal 2025 comparable sales of 0.5% to 1.2%, which compares with prior guidance of between 1% fall and 1% rise.
Best Buy (BBY) CEO Corie Barry said that shoppers remained resilient but deal-focused and were attracted to more predictable sales moments during the third quarter.
She added that most customers shopped during Best Buy’s Back-to-School sales events and TechTober sales held near the October Prime Day event.
Shares of Best Buy rose over 5% in early trading after the electronics retailer also raised its annual sales and profit forecasts heading into the all-important holiday shopping season. The company said it expects fiscal 2025 comparable sales of 0.5% to 1.2%, which compares to prior guidance of between 1% fall and 1% rise.
Best Buy now sees annual adjusted earnings per share of $6.25 to $6.35, up from its previous forecast of $6.15 to $6.30.
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