Steady consumer demand for laptops and smartphones drove comparable sales up 2%, rebounding from last year’s decline.
The positive report sent company shares rising more than 6% in premarket trading following the announcement.
CEO Corie Barry will step down in October, passing leadership to company veteran Jason Bonfig to spark growth.
Bonfig plans to expand higher-margin profit streams, specifically focusing on Best Buy Ads and the digital marketplace platform.
The retailer continues to prioritize paid memberships and Geek Squad support as shoppers selectively upgrade essential home electronics.
To offset rising global component costs driven by AI demand, the company increased imports of computers.
Management comfortably maintained its fiscal 2027 forecast, expecting adjusted profit per share between $6.30 and $6.60.
