In this articleBBY your favorite stocksCREATE FREE ACCOUNTLogo of Best Buy displayed outside a Best Buy store in Edmonton, Alberta, Canada, on March 22, 2025.
Artur Widak | Nurphoto | Getty ImagesBest Buy surpassed Wall Street revenue and earnings expectations for its most recent quarter on Thursday, but stuck with its full-year forecast, citing tariff uncertainty.On the company's earnings call, CEO Corie Barry said the retailer is "increasingly confident our plans for the back half of the year." She said the company is " toward the higher end of our sales range."Yet she said, "given the uncertainty of potential tariff impacts in the back half, both on consumers overall as well as our , we feel it is prudent to maintain the annual guidance we vided last quarter."The consumer electronics retailer said it expects revenue of $41.1 billion to $41.9 billion and adjusted earnings per in a range of $6.15 to $6.30 for its full fiscal year 2026.
In May, Best Buy had cut its full-year fit guidance from a prior range of $6.20 to $6.60.The middle of Best Buy's expected full-year revenue range would be roughly flat to its revenue of $41.53 billion in the previous year.
Best Buy said it expects full-year comparable sales, a metric that tracks online sales and sales at stores open at least 14 months, to range between a 1% decline and a 1% increase.Chief Financial Officer Matt Bilunas said the company's full-year guidance reflects that some shoppers could hold off on purchases in the third quarter.
He said the retailer could see a slowdown in the in October "as people are waiting for those holiday deals to come."For Best Buy, back-to-school season is a crucial time as families and students come to the store for laptops, tablets and more.
Barry said the company has seen "a strong customer response" to its sales events during the season."These results demonstrate an important aspect of our thesis: Our model really shines when there is innovation," she said.s of Best Buy fell nearly 4% in early trading.Here's how the retailer did for the three-month period that August 2 compared with what Wall Street was expecting, according to a survey of analysts by LSEG:Earnings per : $1.28 adjusted vs.
$1.21 expectedRevenue: $9.44 billion vs.
$9.24 billion expectedBest Buy's net income for the fiscal second quarter of 2026 fell to $186 million, or 87 cents per , from $291 million, or $1.34 per , in the year-ago quarter.
Adjusting for one-time items, including restructuring charges, Best Buy reported earnings per of $1.28.Revenue increased from $9.29 billion in the year-ago quarter.Best Buy has been navigating a challenging trifecta of factors.
Customers have bought fewer kitchen appliances as they put off purchases and jects because of higher interest rates.
Some have hesitated to splurge on pricier items because of tariff-related uncertainty or held out on replacements as they wait for new or eye-catching items.
The company's annual sales have declined for the past three years.To spur growth, Best Buy launched a third-party marketplace earlier this month to offer shoppers a wider selection of consumer electronics, accessories and more.
On the marketplace, sellers who apply for the platform can list their own brands and items on Best Buy's website and app.The company already increased prices on some items because of tariff-related higher costs, Barry said on a mid-May call with reporters.
She did not specify which items now cost more and described price increases as "the very last re."Still, tariffs did not have a material impact on fiscal second-quarter financial results, Barry said on the company's earnings call Thursday.Barry said that shopping patterns at Best Buy have not changed from previous quarters.
She said customers are "resilient, but deal-focused" and have been attracted to the company's sales events the one it held in July."In the current environment, customers continue to be thoughtful big ticket purchases and are willing to spend on high price point ducts when they need to, or when there is nology innovation," she said.Best Buy's comparable sales rose 1.6% in the fiscal second quarter compared to the year-ago period.
That marked the company's highest growth in three years, Barry said on the company's earnings call.In the U.S., comparable sales increased 1.1%, as customers bought mobile phones, gaming equipment and items from its computing category.
However, those sales trends were partially offset by weaker sales of appliances, theaters, tablets and drones, the company said.Gaming in particular had stronger-than-expected sales in the quarter, thanks to the release of the Nintendo Switch 2, Barry said.
The retailer capitalized on the highly anticipated launch by offering a way for customers to pre-order and opening stores at midnight when the gaming console dropped on June 5, so customers could line up and get it right away.In the back half of the year, Barrie said Best Buy will try to rev up sales in slower appliances and theater by sharpening price points, adjusting the merchandise it sells and expanding the staffing devoted to them.
The retailer has increasingly leaned on its vendor partners to staff stores, bringing in employees of Apple and Samsung for example, to support sales in different parts of its stores.Barry said the retailer expects brands to ramp up those staffing contributions in the back half of the year.Along with adding more dedicated brand experts to its stores, Best Buy has added new experiences to attract and engage customers.
It's testing mini-showrooms with Ikea that feature kitchen and laundry room appliances and merchandise from both retailers in 10 stores in Florida and Texas.
It is also rolling out new experiences with Breville and SharkNinja to show off trendy coffeemakers, beauty items and more, Barry said.
And it has areas in stores where shoppers can try out Ray-Ban and Oakley sunglasses with Meta AI nology.For the Nintendo Switch 2 launch, Best Buy worked with Nintendo to double the space in stores ahead of the June launch.
Nintendo also brought game trucks to select stores, physical trailers where customers could play with the new system and try out the games.Best Buy's fiscal second-quarter online sales in the U.S.
rose 5.1% year over year and accounted for a third of Best Buy's total U.S. revenue in the quarter.