Best Buy (BBY) earnings Q1 2022 beats


Customers wait outside of a Best Buy store in downtown Toronto, Ontario on November 23, 2020 to pick up their online orders.

Geoff Robbins | AFP | Getty Images

Best Buy said Thursday that sales grew 36% in the fiscal first quarter, as shoppers’ stimulus-fueled spending spree included consumer electronics.

Shares of the company nearly 2% in premarket trading after the home electronics and appliance retailer raised its forecast.

Best Buy CEO Corie Barry said that that consumers decided to invest in technology and kitchen appliances as they saw home values rise. She said demand “was extraordinarily high” in the three-month period.

“This demand is being driven by continued focus on the home,…

Source cnbc.com

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