Business Performance & Strategy - Best Buy's sales are trending towards the higher end of expectations, but the company reaffirms guidance due to consumer volatility and potential tariff impacts [2][3] - Gaming, computing, mobile phones and wearables are strong categories, driven by upgrade cycles from pandemic-era purchases [4][8][9] - Appliances and home theater are experiencing weakness, echoing trends seen at Home Depot and Lowe's [4] - Best Buy is tailoring its approach to health tech, focusing on both new technologies and the needs of an aging consumer [5] - The company is leveraging AI to drive computing growth, focusing on consumer education and device selection [6][7] Tariffs & Pricing - The effective calculated tariff rate is approximately 16% for Best Buy, but the actual impact on consumers is materially lower due to mitigation strategies [12] - Best Buy is diversifying its supply chains and working with partners to diversify sourcing countries to mitigate tariff impacts [11] - The company is focused on offering a broad assortment of products at various price points to accommodate different customer budgets [10][13] Store Development - Best Buy is evolving its store formats, including smaller footprint stores to augment existing markets or enter new ones [13][14] - The company is experimenting with experiential stores in partnership with vendors, as well as leaner stores to reach a broader customer base [15]