{"id":262301,"date":"2021-05-27T22:05:40","date_gmt":"2021-05-27T19:05:40","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/best-buy-raises-its-2021-sales-forecast\/"},"modified":"2021-05-27T22:05:40","modified_gmt":"2021-05-27T19:05:40","slug":"best-buy-raises-its-2021-sales-forecast","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/best-buy-raises-its-2021-sales-forecast\/","title":{"rendered":"#Best Buy raises its 2021 sales forecast"},"content":{"rendered":"

“#Best Buy raises its 2021 sales forecast<\/strong>”<\/p>\n

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Best\u00a0Buy\u00a0raised its annual sales forecast on Thursday, saying the latest round of stimulus checks had kept consumers\u00a0buying home electronics, while acknowledging that a reopening economy threatens to slow growth later in the year.<\/p>\n

Shares of the company, which have gained over 20 percent this year, rose about 5 percent in morning trading as it also reported better-than-expected first-quarter results.<\/p>\n

Best\u00a0Buy\u00a0was among the biggest retail winners during most of the health crisis last year as stuck-at-home Americans set up remote workspaces and invested in home app<\/a>liances leading to a surge in sales of laptops, webcams, refrigerators and other electronics.<\/p>\n

\u201cWe\u2019re still going to see a population that likely is going to be living some hybrid life for the foreseeable future and I think the refresh cycles as a result are going to speed up as people look for that new and better way to work and school from home,\u201d\u00a0Best\u00a0Buy\u00a0Chief Executive Officer Corie Barry said in an analyst call.<\/p>\n

However, Barry added it was difficult to gauge the impact on sales from a switch in consumer spending to activities such as eating out, travel<\/a>ing and social<\/a> events in the later part of the year, and after the stimulus boost peters out.<\/p>\n

The company forecast second-quarter comparable sales to rise 17 percent and expects full-year comparable sales to rise 3 percent to 6 percent, compared to a previous forecast range of a fall of 2 percent to a rise of 1 percent.<\/p>\n

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\"Best
Best Buy credited stimulus spending and pandemic-boosted buys of laptops and other electronics as it boosted its sales forecast for the year.<\/figcaption>
Getty Images<\/span><\/figcaption><\/figure>\n<\/div>\n

It expects comparable sales to fall in the second half of its fiscal year.<\/p>\n

Barry also said\u00a0Best\u00a0Buy\u2019s inventory of electronics was largely unaffected by the global semiconductor microchip shortage, but the company was keeping an eye on the changing situation.<\/p>\n

The company\u2019s comparable sales rose 37.2 percent in the first quarter ended May 1, beating analysts\u2019 estimates of a 22.7 percent increase.<\/p>\n

Excluding one-time items, the company earned $2.23 per share, topping estimates of $1.39 per share.\n <\/p><\/div>\n

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Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“#Best Buy raises its 2021 sales forecast” Best\u00a0Buy\u00a0raised its annual sales forecast on Thursday, saying the latest round of stimulus checks had kept consumers\u00a0buying home electronics, while acknowledging that a reopening economy threatens to slow growth later in the year. Shares of the company, which have gained over 20 percent this year, rose about 5…<\/p>\n","protected":false},"author":1,"featured_media":262302,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/05\/best-buy-raises-forecast2.jpg?quality=90&strip=all&w=1200","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[107443,77735,1545,70237,5015],"class_list":["post-262301","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-5-27-21","tag-best-buy","tag-coronavirus","tag-corporate-earnings","tag-retailers"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/262301","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=262301"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/262301\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/262302"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=262301"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=262301"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=262301"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}