The Clap
Best Buy (NYSE: BBY) beat Q3 earnings expectations, which drove the company to forecast a smaller drop in annual sales than initially expected.
What
The company recorded an EPS of $1.38, more than the expected $1.03 per share.
Best Buy believes deals and discounts will be sufficient to attract customers, who have been driven away by surging prices.
So What
The company expects consumer spending to be most prominent during Black Friday, Cyber Monday, and prior to Christmas, as people look to strike the best deals during these periods.
Now What
Best Buy believes that they hold the right amount of inventory to be the best-positioned retailer during the holiday season.
