Best Buy’s Key Suppliers' Success May Signal a Revenue Beat
- Rival Walmart 2Q electronic comp sales best in four years
- Best Buy to report results August 28 before the market open
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Best Buy Co. may report second-quarter revenue growth that tops the average analyst estimate of 3.7 percent, or $9.27 billion, next week after key suppliers as well as competitor Walmart Inc. recorded an increase in quarterly computer, electronics and television sales.
On August 16, Walmart said its second-quarter "electronics comp sales were the strongest in 4 years due primarily to an elevated assortment in TV’s, audio, wearables and gaming." Best Buy shares have gained 6.0 percent since Walmart reported earnings through yesterday’s close. In the last four weeks, the average analyst estimate for Best Buy’s second-quarter revenue has increased by $12.1 million.