Best Buy announced this week that it’s raising its outlook for the fiscal year. This follows a second quarter that saw the retailer’s comparable sales increase 4.1%.
Honda has postponed the reopening of a plant in China and manufacturers of consumer electronics are warning of price increases due to the shortage of computer chips.
Demand for consumer electronics has fallen since the early days of the pandemic. But Best Buy says electronics demand could stabilize in the near future, or even grow.