Best Buy CEO Highlights Resilient, Bargain-Hunting Shoppers: ‘Attracted To More Predictable Sales Moments’

• 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.
• CEO Corie Barry said that in gaming, Best Buy continued to see strong demand for the Nintendo Switch 2.
• Barry noted that the retailer was well-positioned during the quarter for customers looking to transition to Windows 11, as Microsoft ended support for Windows 10 in mid-October. 

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 2026 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.

“Importantly, while customers continue to be thoughtful about big-ticket purchases in the current environment, they are willing to spend on high-price point products when they need to or when there is technology innovation,” Barry said during a post-earnings call.

Products Driving Sales At Best Buy

Barry noted that the retailer was well-positioned during the quarter for customers looking to transition to Windows 11, as Microsoft ended support for Windows 10 in mid-October. 

“This contributed to our comparable sales performance, evidenced by strong Windows-based sales overall and almost 30% year-over-year growth in desktop computers,” Barry added.

She said that in gaming, Best Buy continued to see strong demand for the Nintendo Switch 2. “As expected, the growth rate slowed from the more material Q2 launch timeframe. We also continued to see healthy demand for handheld gaming and augmented reality glasses,” Barry said.

Best Buy’s Q3 Results

The retailer’s third-quarter revenue came in at $9.67 billion, compared with Wall Street expectations $9.59 billion, according to data from Fiscal AI. Its adjusted earnings per share of $1.40 topped estimates of $1.31.

Retail sentiment on Best Buy improved to ‘extremely bullish’ from ‘bullish’ territory compared to a day ago, with message volumes at ‘extremely high’ levels, according to data from Stocktwits.

Shares of Best Buy have declined nearly 10% in the last 12 months.

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