What To Expect From Best Buy’s Stock Post Q2?

Note: Best Buy’s

BBY
FY’23 ended on January 28, 2023

Best Buy (NYSE: BBY), a specialty retailer of consumer electronics, is scheduled to report its fiscal second-quarter results on Tuesday, August 29. We expect the retailer’s stock to increase marginally post fiscal Q2 with revenues coming in line and earnings beating estimates slightly. Several big factors hurt the consumer electronics retailing niche, including rampant inflation and supply chain disruptions this year. A tough comparison with the pandemic and stimulus-induced growth over the past two years, as well as inflationary headwinds, contributed to the slowdown. Throughout this year, Best Buy expects the market to slow before sales again begin setting all-time records in fiscal 2025.