Best Buy Appoints New CEO to Revitalize Sales
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 22 2026
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Should l Buy BBY?
Source: Newsfilter
- Leadership Change: Best Buy announced that Jason Bonfig will succeed Corie Barry as CEO on October 31, with Barry having led the company since 2019 through challenges like the pandemic and high inflation, and Bonfig's appointment aims to drive sales growth and leverage AI innovations.
- Sales Outlook: The company expects revenue for the fiscal year to range between $41.2 billion and $42.1 billion, slightly down from last year's $41.69 billion, with adjusted earnings per share projected between $6.30 and $6.60, indicating pressure on sales and profitability.
- Market Reaction: During Barry's tenure, Best Buy's stock rose from $65.52 to an all-time high of $138, but as of Tuesday's close, shares were at $66.59, with a market cap of $13.93 billion, reflecting cautious sentiment among investors regarding the company's future.
- Competitive Pressure: Despite a 7% increase in stock price over the past year, Best Buy's sales of appliances and consumer electronics lag behind competitors like Home Depot and Lowe's, with analysts predicting future sales and margins will face pressure from rising memory costs.
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Analyst Views on BBY
Wall Street analysts forecast BBY stock price to rise
12 Analyst Rating
4 Buy
7 Hold
1 Sell
Hold
Current: 58.540
Low
60.00
Averages
79.75
High
96.00
Current: 58.540
Low
60.00
Averages
79.75
High
96.00
About BBY
Best Buy Co., Inc. is engaged in personalizing and humanizing technology solutions. The Company has two segments: Domestic and International. The Domestic segment comprises its operations in all states, districts and territories of the United States and its Best Buy Health business and includes the brand names Best Buy, Best Buy Ads, Best Buy Business, Best Buy Essentials, Best Buy Health, Geek Squad, Imagine That, Insignia, Lively, My Best Buy, My Best Buy Memberships, Pacific Kitchen and Home, TechLiquidators and Yardbird; and the domain names bestbuy.com, lively.com, techliquidators.com and yardbird.com. The International segment comprises all its operations in Canada under the brand names Best Buy, Best Buy Express, Best Buy Mobile, Geek Squad and TechLiquidators and the domain names bestbuy.ca and techliquidators.ca. The Company’s product categories include computing and mobile phones, consumer electronics, appliances, entertainment, services and others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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