Скачать или смотреть Best Buy Q2 FY26 Earnings Call: Strong Sales Growth & Innovation Amid Tariff Uncertainty

*Best Buy Q2 FY26 Earnings Call: Strong Sales Growth & Innovation Amid Tariff Uncertainty*

Discover the key takeaways from *Best Buy's (BBY)* fiscal second-quarter 2026 earnings report! Despite **beating Wall Street's revenue and earnings expectations**, Best Buy has **reiterated its full-year guidance**, primarily due to **tariff uncertainty**. CEO Corie Barry expressed increased confidence for the back half of the year, noting the company is **"trending toward the higher end of our sales range"**.

*Key Highlights:*
*Revenue:* $9.44 billion, up 1.6% year-over-year, surpassing expectations of $9.24 billion.
*Adjusted EPS:* $1.28, exceeding analyst estimates of $1.21.
*Comparable Sales Growth:* A robust **1.6% increase**, marking Best Buy's **highest growth in three years**. Domestic comparable sales rose 1.1%.
*Online Sales:* Domestic online revenue increased 5.1% year-over-year, accounting for 32.8% of total Domestic revenue.

*Growth Drivers & Innovation:*
Best Buy's strong performance was significantly boosted by **new technology innovation**.
*Gaming:* Higher-than-expected growth, largely due to the **successful June 5th launch of the Nintendo Switch 2**. Best Buy capitalized on this with pre-orders and midnight store openings.
*Computing:* Marked its *sixth consecutive quarter of sales growth* and recorded the **highest Q2 laptop unit sales in 15 years**. This was driven by replacement needs, upgrades, and **new AI capabilities**. Best Buy offers 125 models of laptops and desktops with enhanced AI (Copilot+).
*Mobile Phones:* Sales grew in both Q1 and Q2 after years of declines.
The company is also leveraging opportunities like the **Windows 10 to Windows 11 transition**, with Microsoft ending support for Windows 10 in October, presenting a significant upgrade cycle.

*Strategic Initiatives for Future Growth:*
Best Buy is actively *building and scaling new profit streams* and enhancing customer experiences.
*Best Buy Marketplace:* Launched recently, offering *six times more products online* from major brands and new vendors, including tech, licensed sporting goods, and seasonal decor. Most Marketplace products can be returned in stores.
*Best Buy Ads:* Orchestrated its **largest AI-themed ad campaign ever**, with plans for a phase two during the holiday season, expanding into new advertising opportunities.
*Enhanced Store Experiences:* Expanding experiences for *Meta AI Glasses* (Ray-Ban and Oakley) to all stores, launching new experiences with *Breville and SharkNinja* for small appliances, and expanding home theater merchandising with TCL, Hisense, and LG, all staffed by dedicated experts.
*Vendor Partnerships:* Expecting *vendor labor investment to be approximately 20% higher* in the second half of FY26, highlighting Best Buy's value to brands. New partnerships include a pilot with *IKEA US* for kitchen and laundry room showrooms in 10 stores.
*Supply Chain Modernization:* Implementing a new data-driven sourcing solution for online orders and partnering with *FedEx as the primary national parcel carrier* to improve customer experience and lower costs. The company is also automating distribution centers.
*Restructuring:* Incurred *$114 million in restructuring charges* in Q2 FY26 for an enterprise-wide initiative to better align resources with strategy, including exiting non-performing initiatives like the Care at Home Best Buy Health program.

*Challenges & Outlook:*
*Tariff Impacts:* While tariffs did not materially impact Q2 results, *uncertainty surrounding potential tariff impacts* is a key reason for maintaining full-year guidance. Best Buy is mitigating these through manufacturing flexibility, cost negotiations, and country diversification.
*Category Declines:* Weaker sales in appliances (due to slower housing turnover and higher interest rates), home theater, tablets, and drones partially offset growth.
*Consumer Behavior:* Customers are "resilient, but deal-focused," attracted to sales events, and thoughtful about big-ticket purchases, but willing to spend on clear needs or innovation.
*Q3 Outlook:* Comparable sales growth is expected to be similar to Q2 (low single digits), with sales momentum continuing into August, but a potential slowdown in October as shoppers await holiday deals.

Tune in to understand Best Buy's strategy to navigate market dynamics and drive growth through innovation, omnichannel experiences, and strategic partnerships!

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