Name: Best Buy signals waning stay-at-home demand
Uploaded: 2021-02-25T18:25:36.000Z
Duration: 1 min 38 s
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The electron ICS retailer that saw strong demand for computing equipment amid the stay at home trend said Thursday it was, in its words, difficult to predict how sustainable these trends will be.

Best Buy CFO forecast comparable sales growth for the full year would range between a drop of 2% to a gain of 1% earlier this week to other retailers whose sales shot up during the health crisis.

Home Depot and Lowe's stayed away from providing specific forecasts.

Best Buy Sobering forecasts comes after sales surge as people stuck at home set up home offices and students switched to remote learning that drove up demand for laptops, Webcams and other computer accessories last year.

That sales drive continued in the holiday quarter, helped by demand for new gaming consoles from Sony and Microsoft.

The nearly 13% rise in comparable sales amounted to nearly half of the jump recorded in the previous quarter.

Same store sales as well as total revenue, missed Wall Street's expectations, but it appears the companies making a bet on digital sales.

The Wall Street Journal reported Thursday that the company has been laying off workers and cutting hours for some store workers as it adapts to the shift.

Thio e Commerce Best buys Online sales nearly doubled in the latest quarter, making up 43% of US sales.

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Best Buy signals waning stay-at-home demand

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