“Best Buy sales jump 36% as consumers splurge on electronics, retailer raises forecast”
May 27, 2021
“Best Buy said Thursday that sales grew 36% in the fiscal first quarter as shoppers’ stimulus-fueled spending spree includedconsumer electronics. Shares of the company 3.3% in premarket trading after the home electronics and appliance retailer raised its forecast… Chief Financial Officer Matt Bilunas said Best Buy expects same-store sales to grow 3% to 6% this year. He had previously said they would range from a decline of 2% to growth of 1%. However, he said the company anticipates customers will step up spending in other areas, such as travel and dining out, in the second half of the year…”
https://www.cnbc.com/2021/05/27/best-buy-bby-earnings-q1-2022-.html
There’s also a chip shortage which will inflate revenue from sales a bit. Just keep that in mind when looking at these numbers.