Best Buy is entering the holiday season with confidence, bolstered by promising early Q4 trends and an optimistic outlook. While Q3 2024 domestic revenue saw a slight dip of 3.3% to $8.7 billion, the retailer experienced growth in key categories like computing, tablets, and services. Online sales remained a bright spot, climbing to 31.4% of total domestic revenue, with $2.73 billion in revenue for the quarter.
Internationally, Best Buy’s expansion efforts, including new Best Buy Express locations in Canada, helped offset broader market challenges. CEO Corie Barry highlighted early signs of increased customer demand as holiday shopping ramps up. “We’ve seen a strong start to Q4, with customers responding well to our competitive deals, engaging merchandising, and seamless fulfillment options,” Barry shared.
Best Buy’s refined FY25 revenue guidance of $41.1 to $41.5 billion reflects its commitment to adapting to customer needs while maintaining momentum through the season. Barry noted the company’s strength in membership offerings and robust service performance as key drivers of its holiday strategy.
With an eye on delivering exceptional value and experiences, Best Buy is well-positioned to make the most of the holiday season and delight customers in stores and online.
