Best Buy beats same-store sales estimates on surge in online demand

(Reuters) – Best Buy Co Inc beat quarterly same-store sales estimates on Tuesday as online demand for computers and other electronic accessories needed to work from home surged for a second straight quarter.

Comparable sales rose 5.8% in the second quarter ended Aug. 1, beating expectations of a 3.7% increase, according to IBES data from Refinitiv.

Best Buy said it expected third-quarter sales to be higher than last year, but growth would likely taper in coming weeks.

(Reporting by Uday Sampath in Bengaluru; Editing by Arun Koyyur)