By Savyata Mishra

Electronics retailer Best Buy raised its annual sales and profit forecasts on Tuesday, banking on strong holiday demand as shoppers seize steep discounts to upgrade their laptops, smartphones and other household electronics.

Computing and tablets, which make up about a third of the retailer’s revenue, saw robust growth as consumers adopted new technology and replaced devices bought during the pandemic. Gaming demand also provided a lift, helped by the launch of Nintendo ‘s Switch 2 earlier this year.

“Customers remain resilient, but deal focused and attracted to more predictable sales moments,” CEO Corie Barry said on a post-earnings call.

The company has been expanding its online reach, rolling out a U.S. marketplace in August to broaden its product assortment

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