Best Buy posts stronger Q2 sales, raises full-year outlook

Best Buy Co. Inc. reported stronger-than-expected second-quarter results, with comparable sales rising 4.1% as growth in computing, home theater and emerging technology helped the electronics retailer raise its outlook for fiscal 2027. For the 13-week quarter ended Aug. 1, Best Buy generated revenue of $9.78 billion, up 3.6% from $9.44 billion a year earlier. Domestic revenue increased 4.3% to $9.07 billion, while domestic comparable sales rose 4.5%.

“We are very pleased to report we outperformed expectations in the second quarter with comparable sales growth of 4.1% and a higher-than-expected adjusted operating income rate,” said out-going CEO Corie Barry. She added that Best Buy generated growth across almost all of its major product categories while continuing to expand its Best Buy Ads and Marketplace initiatives.

Computing and home theater were among the biggest contributors to domestic comparable-sales growth. Best Buy also cited emerging categories, including AI glasses and trading cards, while traditional gaming sales declined. Online sales also remained strong. Domestic online revenue reached $3.00 billion, increasing 5.1% on a comparable basis and representing 33.1% of domestic revenue.

The retailer significantly raised its FY27 expectations following the stronger first half. Best Buy now forecasts annual revenue of $42.3 billion to $42.8 billion, compared with its previous $41.2 billion to $42.1 billion range. Comparable sales are expected to increase 1.9% to 3.0%, a substantial upgrade from the previous forecast of a 1% decline to 1% growth.

Incoming CEO Jason Bonfig, who takes over Nov. 1, said the results reflect both Best Buy’s investments and “a healthy demand environment for our category.”