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Best Buy sees H2 Sales Helped by Products like the iPhone 7

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Last week Target Stores reported that their electronic sales crashed 75% this quarter due to an Apple device slump. Even though Target CEO Brian Cornell was positive about Apple's new devices selling well in the months ahead, he squarely noted that three quarters of their electronics sales drop for the quarter were directly due to Apple's product line. Yesterday Best Buy reported their quarterly financials and sales had rebounded for the retailer. Their success was found in online sales, up 24% for the second straight quarter. In Contrast, Best Buy's Chief Financial Officer Corie Barry said declines in tablet computers and mobile phones weren't as bad as initially projected for the period. The Wall Street Journal report further noted that "Best Buy forecasts revenue will grow slightly in the second half of the year, helped by new products such as the latest Apple Inc. iPhone." Huh, no mention of the insanely hot Samsung Note 7? How refreshingly honest.


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