Best Buy is launching Best Buy Gamers, an online gaming hub, as it leans into a fast-growing part of its business. The beta site goes live Tuesday, ahead of major releases including "Grand Theft Auto VI" on November 19. Created with video game website IGN, the hub will offer members articles, reviews, live updates on launches, and deals on new technology. Chief revenue officer Patrick McGinnis said the project has been in development for over a year. Best Buy says tens of millions of gamers shop at its stores each year. It will also open a gaming-focused store experience in Torrance, California, next month. The retailer is seeking growth after slumping sales and pressure from tariffs and weak consumer confidence.

Richard M. Schulze, Chairman Emeritus of Best Buy, sold 300,000 shares for approximately $27.8 million and gifted another 300,000 shares, according to an SEC filing. The transactions were executed at a weighted average price of $92.51 per share through indirect vehicles including a revocable trust and family foundation. Following these transactions, Schulze maintains approximately 11.3 million shares held indirectly, valued at around $1.05 billion. His holdings are distributed across seven channels, including a revocable trust with 9.2 million shares and a spousal GRAT with 1.2 million shares. The sale occurred as Best Buy shares traded at $92.45, reflecting a 25% one-year total return. The technology retailer operates across the United States and Canada, with a market capitalisation of $19.7 billion.

Best Buy expects its advertising network revenues to reach nearly $1 billion this year, representing a 10% increase from last year's $900 million. The Minneapolis-based retailer reported strong second-quarter results, with comparable sales up 4.1% and total revenue rising 3.6% to $9.78 billion. Computing led sales growth for the 10th consecutive quarter, whilst home entertainment saw its best performance since 2022. Sales in emerging categories like AI glasses and health rings more than doubled. Based on robust performance, Best Buy raised its full-year sales forecast to between $42.3 billion and $42.8 billion, up from its previous range of $41.2 billion to $42.1 billion. Jason Bonfig will become CEO in November.