Strong Revenue and Earnings Growth
Best Buy reported third-quarter revenue of $9.7 billion with a comparable sales growth of 2.7%. Adjusted earnings per share increased by 11% year-over-year to $1.40.
Improved Customer Experience and Engagement
Customer experience ratings for product availability, store appearance, and associate availability improved year-over-year, with an increase in the overall Net Promoter Score.
Successful Launch of Marketplace
The new Best Buy marketplace launched with over 1,000 sellers and 11 times more SKUs available online, contributing to improved gross profit rates.
Growth in Key Product Segments
Sales growth was noted in computing, gaming, and mobile phones. Desktop computers saw almost 30% year-over-year growth, and the Nintendo Switch 2 continued to perform well.
Operational Efficiency and Cost Reduction
A 17% decline in customer contacts was achieved through AI in customer support, improving customer experience scores and delivery times.