Best Buy Raises Full-Year Sales Outlook as Consumers Upgrade Tech and Spend on New Devices

Best Buy raised its full-year revenue outlook to 41.65 to 41.95 billion dollars after a stronger-than-expected third quarter, and now projects 6.25 to 6.35 dollars in adjusted EPS. Comparable sales are expected to grow 0.5 - 1.2 percent.

For the quarter ending November 1, the retailer reported 1.40 dollars in adjusted EPS and 9.67 billion dollars in revenue, beating estimates. Comparable sales rose 2.7 percent, the best in four years, driven by strong demand for computing, gaming, mobile phones, wearables and headphones. Online and in-store sales both improved.

CEO Corie Barry said shoppers remain cautious but still spend on higher-priced tech when innovation is compelling, helped by products like the Nintendo Switch 2, new iPhones and AI laptops. Net income fell to 140 million dollars due to restructuring costs, while U.S. comparable sales increased 2.4 percent. Appliances and home theater lagged as consumers delayed large purchases.

Best Buy expects holiday-quarter comparable sales to range from –1% to +1%, reflecting softer trends in gaming and wearables. The company is preparing for major shopping events with wide promotions.

To diversify growth, Best Buy is leaning into experiential retail with demos for Meta’s AI glasses, vendor showcases, and Ikea mini-showrooms. Its new third-party online marketplace now features 1,000+ sellers and 11× more products, generating higher profits and lower return rates.

Appliances remain a weak spot amid slow housing turnover, and Best Buy plans to boost staffing and speed up deliveries to revive demand.

Shares are down 7 percent this year versus a 15 percent gain in the S&P 500, but the company is banking on tech innovation and holiday momentum to improve performance.