Best Buy Reports Modest Q2 Sales Gain, Affirms FY26 Guidance

Best Buy reported a surprise rise in second-quarter sales, driven by strong online demand and increased interest in AI-powered devices like computers and mobile phones. Comparable sales for the quarter grew 1.6%, surpassing analysts' expectations of a decline. Despite the positive sales performance, shares fell 2% in premarket trading as the company maintained its annual sales and profit forecasts. Best Buy anticipates comparable sales for fiscal year 2026 to range between a 1% drop and a 1% increase, with adjusted earnings per share expected between $6.15 and $6.30. The retailer has faced three consecutive years of declining sales after a pandemic-era boom, as consumers remain price-conscious and delay purchases until promotional periods. The stock has fallen about 12% so far this year.