CEO Corie Barry has previously expressed concern over a widening consumer income divide. But the executive sounded positive about consumer sentiment during the third quarter.
“We believe Best Buy continues to execute well and gain market share in the consumer electronics space, based on its ability to introduce newness, leverage its scale and vendor relationships, manage costs, and operate efficiently,” Telsey Advisory Group analysts led by Joe Feldman said in an emailed note Tuesday. “Looking ahead, newer initiatives, such as higher-margin membership, marketplace, and advertising businesses, as well as ongoing product innovation and the replacement cycle, should help fuel positive comp and earnings growth.”
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