Best Buy experiences 3% Q2 sales drop, exceeds earnings expectations amid economic uncertainty.

Best Buy, the largest US consumer electronics chain, saw a 3% drop in Q2 sales amid cautious gadget spending due to economic uncertainty. Despite this, the company's earnings of $291m ($1.34 per share) surpassed Wall Street expectations. Best Buy raised its earnings view for FY22, and plans to modernize stores and focus on membership services to boost sales.

August 29, 2024
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