Best Buy 2Q Earnings Boost Turnaround Confidence

Best Buy exceeded expectations in the second quarter, raising its profit outlook despite a weak electronics market. The company gained market share, contrasting with competitors like Target, which blamed Apple for poor results. Best Buy's growth is attributed to strong vendor relationships and a focus on appliances. The US consumer remains willing to spend on big-ticket items. Looking ahead, Best Buy anticipates a stronger second half due to new product releases, including the iPhone 7, leading to a significant stock increase.

What were the expectations for sales in the second quarter according to Best Buy?

How did Best Buy's performance compare to the overall electronics market in the US?

What factors contributed to Best Buy's ability to gain market share despite a weak market?

What does the CEO of Best Buy suggest about the US consumer's spending habits?

What new products does Best Buy anticipate will strengthen their performance in the second half of the year?