Best Buy sees opportunities in connected health space
CEO Hubert Joly says strong revenue growth was helped by favorable environment driven by customer response to experiences. Says continues to make significant progress on Best Buy 2020. Says GreatCall is off to a great start. Says excited about opportunities to help aging consumers. Says continues to see encouraging results form Total Tech Support program. Says expanded In-Home Advisor program. Says continuing to invest in customer experience enhancements. Says making it easier for customers to use the Best Buy App to shop online and in store. Says investing in a range of enablers, says tracking according to plan in investments. Says continuing to invest in labor and investing in compensation and benefits of associates. Says excited about holiday plans. Says excited to offer Total Tech Support as a gift item. Says materially upgraded online gift center. Says likes opportunity to offer customers more consultative approach. Says particularly likes opportunities in connected health space. Says estimates $200B in tariffs touches only about 7% of products sold. Says expects tariff impact to be minimal for the year. Says expects trade negotiations with China to progress. Says working to mitigate tariff impact for next year. Comments taken from Q3 earnings conference call.