Best Buy Lifts FY Outlook After 4.1% Q2 Sales Gain on Higher PC Prices

2 articles · Updated · Jefferson City News Tribune · Aug 28

Comparable sales rose 4.1% in Best Buy’s May-to-July quarter, marking a second straight quarter of growth and prompting the retailer to raise its full-year comparable-sales outlook to 1.9%-3%.
Higher computer prices, not unit growth, drove much of the gain as chipmakers shifted memory supply toward AI-linked data centers, tightening PC availability and pushing costs through manufacturers to retailers.
Executives said shoppers remain price-conscious and expect computer sales to slow in the second half after a Windows 10 upgrade cycle fades, even though demand in the category is still solid.
Best Buy shares fell more than 4% in early trading, while incoming CEO Jason Bonfig highlighted smaller-format stores, a 2.2% rise in foot traffic and faster appliance delivery as growth priorities.