A shopper pushes a cart with a TV in front of a Best Buy store in Chicago, Illinois, November 25, 2022.
Jim Vondruska | Reuters
Best Buy on Tuesday surpassed Wall Street’s quarterly sales expectations, but tempered its outlook for the rest of the year as it feels the lull of post-pandemic spending on kitchen appliances, computer monitors and other electronics.
CEO Corie Barry said the company still anticipates this year will be “the low point in tech demand,” before sales bounce back.
“Next year the consumer electronics industry should see stabilization and possibly growth driven by the natural upgrade and replacement cycles and the normalization of tech innovation,” she said in a news…