Overview
- Best Buy, which announced the change Wednesday, said Jason Bonfig will take over as CEO on Oct. 31 and join the board as Corie Barry departs the role.
- Barry will serve as a strategic advisor for six months after stepping down, providing overlap to support the transition.
- Bonfig currently oversees merchandising, marketing, e-commerce, supply chain and Best Buy Ads, and he helped launch the U.S. third‑party online marketplace the company views as a growth lever.
- The retailer seeks a return to sales growth after four years of weaker demand tied to a slow housing market, price‑conscious shoppers and fewer standout consumer tech products.
- Management’s outlook calls for revenue of $41.2 billion to $42.1 billion, comparable sales between down 1% and up 1%, and adjusted EPS of $6.30 to $6.60, while investor caution persists after a recent Goldman Sachs downgrade and a stock price near 2019 levels.