The news: Best Buy beat Wall Street analysts’ expectations in Q2, but continues to face a challenging environment in which few consumers are splurging on big-ticket items such as home theaters, TVs, and appliances.
A challenging space: “We continue to expect that this year will be the low point in tech demand after two years of sales declines,” said CEO Corie Barry, in a statement.
The bottom line: Given the slow-growth environment, Best Buy needs to protect its bottom line by executing well on fundamentals such as inventory management and upselling consumers on its membership programs.
First Published on Aug 29, 2023
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