Best Buy's Turnaround is Gaining Traction. Can it Sustain Its Momentum

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1250 ET - Visits to Best Buy were up 2.2% in 2Q compared with a year earlier, according to a recent report from Placer.ai. The increase marks the chain's first quarterly year-over-year visit gain in at least four years, the location-analytics firm adds. The shift comes as Best Buy is investing in its in-store experience, launching shop-in-shop Ikea locations and rolling out Meta Labs, which allow interested customers to explore Meta's lineup of artificial-intelligence glasses and virtual-reality headsets. Placer.ai says Best Buy's growth was geographically broad, with visits increasing in more than 40 states. "Time will tell if the turnaround can sustain its momentum," the report reads. "But for now at least, the chain is reaching more shoppers and giving them more reasons to stop by." Best Buy is scheduled to report 2Q earnings on Thursday.

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