Best Buy: Coronavirus (COVID-19) Company Impact

Best Buy: Coronavirus (COVID-19) Company impact

Summary

The coronavirus (COVID-19) company impact report analyses how the pandemic will impact Best Buy's performance.

Best Buy’s group sales are forecast to decline by 2.7% in 2020, driven by the closure of its store portfolio in the height of the COVID 19 pandemic.

Best Buy’s response to the pandemic has been strong, with the retailer placing a focus not just on sales but on its customers and staff.

Scope

• Geographically , Best Buy is exposed to the difficulties caused by the COVID-19 pandemic due to its reliance on North America which has been the region most affected by the virus.
• With Best Buy now beginning to open some of its stores, with an online scheduling process in place and strict guidelines, Best Buy will be able to entice some spend through its branches over the coming months.
• Best Buy has partnered with two Minnesota organizations to provide Chromebooks and laptops to teens in need to help ensure they can continue their studies at home.

Reasons to Buy

• Use our revised 2020 forecast for Best Buy to understand how the COVID-19 pandemic will impact its performance this year.
• Use our charts to review how Best Buy's sales are split by region globally and how these regions have been impacted by COVID-19.
• Use our in-depth analysis to review how Best Buy has responded to COVID-19 and how this will affect its performance.