Best Buy surpassed Wall Street revenue and earnings expectations for its most recent quarter on Thursday, but stuck with its full-year forecast, citing tariff uncertainty.

On the company’s earnings call, CEO Corie Barry said the retailer is “increasingly confident about our plans for the back half of the year.” She said the company is “trending toward the higher end of our sales range.”

Yet she said, “given the uncertainty of potential tariff impacts in the back half, both on consumers overall as well as our business, we feel it is prudent to maintain the annual guidance we provided last quarter.”

The consumer electronics retailer said it expects revenue of $41.1 billion to $41.9 billion and adjusted earnings per share in a range of $6.15 to $6.30 for its full fiscal year 2026. In May, Best Buy had cut its full-year profit guidance from a prior range of $6.20 to $6.60.

The middle of Best Buy’s expected full-year revenue range would be roughly flat to its revenue of $41.53 billion in the previous year. Best Buy said it expects full-year comparable sales, a metric that tracks online sales and sales at stores open at least 14 months, to range between a 1% decline and a 1% increase.

Chief Financial Officer Matt Bilunas said the company’s full-year guidance reflects that some shoppers could hold off on purchases in the third quarter. He said the retailer could see a slowdown in the business in October “as people are waiting for those holiday deals to come.”

For Best Buy, back-to-school season is a crucial time as families and students come to the store for laptops, tablets and more. Barry said the company has seen “a strong customer response” to its sales events during the season.

“These results demonstrate an important aspect of our thesis: Our model really shines when there is innovation,” she said.

Shares of Best Buy were down about 4% in afternoon trading.

Here’s how the retailer did for the three-month period that ended August 2 compared with what Wall Street was expecting, according to a survey of analysts by LSEG:

• Earnings per share: $1.28 adjusted vs. $1.21 expected
• Revenue: $9.44 billion vs. $9.24 billion expected

Best Buy’s net income for the fiscal second quarter of 2026 fell to $186 million, or 87 cents per share, from $291 million, or $1.34 per share, in the year-ago quarter. Adjusting for one-time items, including restructuring charges, Best Buy reported earnings per share of $1.28.

Revenue increased from $9.29 billion in the year-ago quarter.

Best Buy has been navigating a challenging trifecta of factors. Customers have bought fewer kitchen appliances as they put off home purchases and projects because of higher interest rates. Some have hesitated to splurge on pricier items because of tariff-related uncertainty or held out on tech replacements as they wait for new or eye-catching items. The company’s annual sales have declined for the past three years.

To spur growth, Best Buy launched a third-party marketplace earlier this month to offer shoppers a wider selection of consumer electronics, accessories and more. On the marketplace, sellers who apply for the platform can list their own brands and items on Best Buy’s website and app.

The company already increased prices on some items because of tariff-related higher costs, Barry said on a mid-May call with reporters. She did not specify which items now cost more and described price increases as “the very last resort.”

Still, tariffs did not have a material impact on fiscal second-quarter financial results, Barry said on the company’s earnings call Thursday.

Along with adding more dedicated brand experts to its stores, Best Buy has added new experiences to attract and engage customers. It’s testing mini-showrooms with Ikea that feature kitchen and laundry room appliances and merchandise from both retailers in 10 stores in Florida and Texas. It is also rolling out new experiences with Breville and SharkNinja to show off trendy coffeemakers, beauty items and more, Barry said. And it has areas in stores where shoppers can try out Ray-Ban and Oakley sunglasses with Meta AI technology.

For the Nintendo Switch 2 launch, Best Buy worked with Nintendo to double the space in stores ahead of the June launch. Nintendo also brought game trucks to select stores, physical trailers where customers could play with the new system and try out the latest videogames.

Best Buy’s fiscal second-quarter online sales in the U.S. rose 5.1% year over year and accounted for about a third of Best Buy’s total U.S. revenue in the quarter.

Dick’s Sporting Goods raised its full-year sales and earnings guidance after delivering fiscal second-quarter results that beat expectations.

The company is now expecting comparable sales to grow between 2% and 3.5%, up from a previous range of 1% and 3% and ahead of analyst estimates of 2.9%, according to StreetAccount. 

Dick’s said its earnings per share are now expected to be between $13.90 and $14.50, up from a previous range of $13.80 to $14.40. Analysts were expecting $14.39 per share, according to LSEG.

Here’s how the company performed compared with what Wall Street was anticipating, based on a survey of analysts by LSEG:

• Earnings per share: $4.38 adjusted vs. $4.32 expected
• Revenue: $3.65 billion vs. $3.63 billion expected

The company’s reported net income for the three-month period that ended Aug. 2 was $381 million, or $4.71 per share, compared with $362 million, or $4.37 per share, a year earlier. Excluding one-time items related to its acquisition of Foot Locker and other costs, Dick’s posted earnings per share of $4.38.

Sales rose to $3.65 billion, up about 5% from $3.47 billion a year earlier. During the quarter, comparable sales also grew 5%, well ahead of expectations of 3.2%, according to StreetAccount. 

“Our performance shows how well our long-term strategies are working, the strength and resilience of our operating model and the impact of our team’s consistent execution,” CEO Lauren Hobart said in a news release. “Our Q2 comps increased 5.0%, with growth in average ticket and transactions, and we drove second quarter gross margin expansion.”

While Dick’s comparable sales guidance came in ahead of expectations, its full-year revenue outlook was slightly below estimates. The company said it’s expecting revenue to be between $13.75 billion and $13.95 billion, below estimates of $14 billion, according to LSEG.

Dick’s said its raised profit guidance includes the impact of tariffs that are currently in effect. In an interview with CNBC’s Courtney Reagan, Dick’s executive chairman Ed Stack said the company has implemented some price increases to offset the impact of higher duties but has been “surgical” in its approach.

“We’ve been able to do what we need to from a pricing standpoint, whether that’s from the national brands or from our own brands, and then other places where we’ve held price, we’ve been able to do that, and we’ve offset it someplace else, which is what you have to do in these in these situations, and the team’s done a great job doing that,” Stack said.

Hobart said during Thursday’s call with analysts that the retailer hasn’t seen its shoppers balking at the “small-level” price increases that have gone into effect.

Hobart said broadly Dick’s hasn’t seen any signs of a consumer spending slowdown as a result of tariffs. She said Dick’s saw growth across all of its key segments during the quarter.

The company said its guidance doesn’t include any potential impact from its acquisition of Foot Locker, such as costs or results from the planned takeover, which is expected to close on Sept. 8. 

In May, Dick’s announced it would be acquiring its longtime rival for $2.4 billion, giving it a competitive edge in the wholesale sneaker market, most importantly for Nike products, along with a bigger global presence.

Nike is a critical brand partner for both Dick’s and Foot Locker and, at times, their performance is reliant on how well the sneaker brand is doing. During the quarter, Stack said new drops from Nike’s revamped running portfolio, including the Pegasus Premium and the Vomero Plus, are performing so well, it can’t keep the shoes in stock.

“Anything that’s new, innovative and kind of the cool factor, is blowing out,” Stack said.

However, the acquisition also comes with risks. Foot Locker’s business has been in the midst of an ambitious turnaround under CEO Mary Dillon but the company is still struggling.

In the quarter ended Aug. 2, Foot Locker’s sales fell 2.4% and it posted a loss of $38 million. The company faces a range of existential challenges, including its heavy mall footprint, its small online business and a core consumer that often has less discretionary income than the core Dick’s consumer. 

Once the businesses are combined, Foot Locker’s struggles could ultimately weigh on Dick’s overall results. On the other hand, the combined company will become the No. 1 seller of athletic footwear in the U.S., which will allow it to better compete against its next biggest rival, JD Sports. 

Stack acknowledged to CNBC that Foot Locker’s earnings “were not great” but said the company has a strategy.

“We have a game plan of how to turn this around,” Stack told Reagan. “We think that we can return Foot Locker to its rightful place in the top of this industry and we’re excited to roll up our sleeves and get started with that.”

Dick’s plans to operate Foot Locker as a separate entity. Moving forward, Stack said the company plans to break out details on how each brand is performing when releasing quarterly results. It’ll provide separate details on how Dick’s performed and how Foot Locker performed so investors can get a sense of what’s going on in each part of the business.

Hobart said during Thursday’s earnings call that as part of the acquisition, Dick’s plans to invest in Foot Locker stores and marketing. She also said Dick’s sees opportunities in merchandising and bringing in a new assortment of products.

“As Foot Locker becomes part of the Dick’s family, we are an even more important brand to our wholesale partners, and that’s part of the thesis,” Hobart said.

Earlier this week, Dick’s said it had received all regulatory approvals associated with the transaction. It’s unclear if it had to divest any stores to satisfy the FTC’s requirements.

— CNBC’s Ali McCadden contributed to this report.