Computer & Electronics Retail

Kasikorn Securities holds a positive view on PLANB and COM7 shares after COM7's extraordinary general meeting of shareholders resolved to approve the appointment of two new directors nominated by PLANB, namely Mr. Prin and Dr. Pinitjorn, to COM7's board. As a result, PLANB is highly likely to begin recognizing its share of profits from COM7 starting September 17, which should support profit growth in the fourth quarter of 2026 and continue into 2027. The research team maintains a buy recommendation on both stocks, setting a target price of 6.68 baht for PLANB, supported by its well-performing OOH media business, growth in its higher-margin non-OOH business, and full-year recognition of its share of COM7 profits in 2027. The stock also continues to trade below its historical average and below global peer comparisons. For COM7, the research team notes that the response to iPhone 18 Series pre-orders has been relatively good, and therefore expects third-quarter 2026 sales to grow both year on year and quarter on quarter. It maintains a buy recommendation with a target price of 34.12 baht, and views PLANB's average purchase price of 27.44 baht as potentially a suitable level for re-entering an investment.

COM7 disclosed that overall pre-orders for the iPhone 18 Series grew well above the previous generation, with the iPhone 18 Pro Max in Burgundy seeing the highest number of pre-orders, followed by the Glacier color. Kaewjiranai Kemasit, Senior Director of the Apple Product Group at Comseven Company Limited, or COM7, said that the iPhone 18 Pro and iPhone 18 Pro Max come with the A20 Pro chip, a new-generation Vapor Chamber, and a dual 16-core Neural Engine, while the Trade IN+ campaign has drawn more than 100% more registrations from customers interested in trading in old devices for new ones compared with the previous generation. Thakol Niyomthai, Investor Relations at COM7, said the company offers a 0% installment program through credit cards for up to 36 months and UFUND loans with installments of up to 48 months, along with offers and privileges worth up to 10,000 baht, and will deliver the iPhone 18 Series through a network of more than 1,300 branches nationwide. The iPhone 18 Pro starts at 48,900 baht and the iPhone 18 Pro Max starts at 52,900 baht. COM7 will officially open advance pre-orders for the iPhone Duo on October 16, 2026, at 7:00 p.m., with sales beginning on October 23, 2026, at a starting price of 79,900 baht. At the same time, Apple is preparing to launch the Apple Watch Series 12 starting at 14,900 baht, the Apple Watch Ultra 4 starting at 29,900 baht, the Apple Watch SE 3 starting at 8,500 baht, and the AirPods 5 starting at 4,790 baht.

Finansia Syrus Securities maintains a Buy rating on Comseven, or COM7, with a target price of 35 baht, after shareholders approved the appointment of two additional directors as expected: Mr. Parin Lojanagosin, Chief Executive Officer of Plan B Media, or PLANB, and Mr. Phinijsorn Luechaikhajornphan, a PLANB director. The move raises COM7's board to nine members from seven. The research team sees COM7 benefiting from its strategic alliance with PLANB, a major Thai out-of-home advertising operator, and is watching for further media collaboration, such as advertising inside Banana stores and on EV7 vehicles, which is initially expected to add roughly 1-2% upside to 2027 earnings. A key near-term catalyst is pre-orders for the new iPhone models. An initial check with COM7 found that pre-orders for the iPhone 18 Pro and iPhone 18 Pro Max, in unit terms, exceeded total pre-orders for all models in the iPhone 17 series, which the team views as positive for COM7's share sentiment. This is consistent with SIS Distribution (Thailand), or SYNEX, which saw pre-orders for those iPhone models rise from the same period a year earlier, with part of the increase likely due to a larger allocation of units compared with the iPhone 17 series. However, actual sales from the first day of availability on September 18, 2026 through the fourth quarter of 2026 still need to be monitored, along with the adequacy of supply of the new iPhone models going forward. The research team sees the trend as a supporting factor for Apple-related stocks and better than it and the market had previously expected, and reiterates its Buy rating on COM7 with a 35 baht target price and on SYNEX with a target price of 12.50 baht.

Asia Plus Securities has assessed COM7 shares after yesterday's shareholders' meeting approved the appointment of two additional directors, expanding the board from seven to nine members. Both are executives from Plan B Media Public Company Limited, or PLANB: Mr. Parin Lojanagosin, a major shareholder and Chief Executive Officer, and Mr. Phinijsorn Luechaikhajornphan, Chief Marketing Officer. PLANB previously invested in COM7 shares and currently holds 11.01% of the company's paid-up registered capital. Today COM7 begins selling the iPhone 18 on its first day, following strong reception and pre-orders. Starting prices for the iPhone 18 Pro and iPhone 18 Pro Max are about 8% to 11% higher than the launch prices of the iPhone 17 Pro and iPhone 17 Pro Max, and the company will begin recognizing revenue from September. The foldable-screen iPhone Duo, the most expensive model, starts at 79,900 baht and will go on sale in October. The research team views the addition of two PLANB directors as positive for both COM7 and PLANB, expecting synergies in the fourth quarter of 2026 through management of advertising space at COM7's nearly 1,400 branches, as well as advertising media on roughly 5,000 EV7 taxis this year. However, this upside is not yet included in estimates. For third-quarter 2026 earnings trends, the research team expects a slight decline quarter-on-quarter due to the low season and the fact that not all iPhone 18 models have launched, with the Standard model likely to debut in late first-quarter 2027. Still, profit is expected to grow strongly year-on-year, driven by the UFUND business, lending, and iCare electronic device insurance, which benefit from iPhone sales. The research team maintains its conservative net profit forecast for 2026 at 4.8 billion baht, up 18% year-on-year, and keeps its Trading recommendation with a 2027 target price of 33.00 baht, based on a PER of 14.9 times, the long-term average. It also expects strong year-on-year profit growth in the third quarter of 2026, accelerating in the fourth quarter of 2026 during the high season.

Krungsri Securities Public Company Limited said COM7 is a Conviction Call in the IT retail sector, taking a more positive view on normal profit momentum in 2H26F continuing into 2027F after 3QTD sales grew more than 20% y-y, above the company's assumption of 16% y-y, while bookings for the iPhone 18 Pro and Pro Max remain strong even though average selling prices rose 8–11% y-y. This gives normal profit in 3Q26F a chance of upside from the current estimate of 1.1 billion baht to 1.3–1.4 billion baht. On the lending business, Ufund Capital plans a private placement capital increase for some alliance partners, raising registered capital from 600 million baht to 2.04 billion baht, which is expected to ease D/E constraints that are currently close to the loan covenant of 2.5 times and to increase capacity to support the next phase of UFUND loan portfolio expansion. The company is also considering revising up its 2026–27F profit estimates from the current forecast growth of 13% and 9% y-y, with every 1% of sales above assumption adding about 2% to normal profit and about 0.75 baht per share to the target price, while maintaining a Buy recommendation and a 2027F target price of 35.0 baht.

GameStop Corp. reported second-quarter net income of $298.7 million, up from $168.6 million a year earlier, even as revenue fell to $790.2 million from $972.2 million, according to a Wall Street Journal report on September 8, 2026. The video-game retailer raised its full-year adjusted EBITDA outlook to more than $650 million from a prior target of more than $600 million. Collectibles revenue jumped 57% year over year to about $356.3 million, now representing 45.1% of total sales and helping push gross margin to 43.7% from 29.1% a year earlier. Adjusted EBITDA rose to roughly $174 million from $75.7 million, and operating income reached $160.2 million, the highest for any second quarter in company history. The quarter's net income was boosted by approximately $238 million in net gains related to GameStop's equity stake in eBay, while a roughly $75 million loss on digital assets and related receivables showed the swing from its investment portfolio. Video-game revenue fell to about $263.2 million from $494.6 million a year earlier, and the company retired approximately $1.4 billion of convertible notes, reducing long-term debt to about $2.8 billion.

Comseven Public Company Limited, or COM7, reported its second-quarter 2026 operating results, with net profit attributable to major shareholders of 1.30306 billion baht, up 29.9%, while first-half 2026 profit stood at 2.52925 billion baht, up 27.49%. Revenue from sales and services in the second quarter of 2026 was 24.111 billion baht, an increase of 3.398 billion baht, or 16.4%, compared with the same period last year, driven by smartphone demand growing across both the iOS and Android systems. Thakol Niyomthai, head of investor relations at Comseven Public Company Limited, or COM7, said on the company's earnings call that the company has raised its revenue growth target for this year to 10-15% compared with last year, up from an earlier expectation of 10% growth. Net profit after tax is expected to grow more than 20%, compared with an earlier target of 10-15% growth versus last year, supported by memory prices rising as much as 200-300% quarter on quarter. On the store front, the company expects to open a total of 1,400 branches this year across the BaNANA and Studio7 brands, having already reached 1,323 branches as of the end of the second quarter of 2026. In the electric vehicle business, it expects to sell 4,400 units this year, after selling 2,029 units of the AION i60 model in the first half. EV taxi leasing is expected to reach 5,000 units for the full year, after 3,829 units were leased out in the first half.

GameStop reported second-quarter 2026 sales of US$790.2 million and net income of US$298.7 million, alongside record Q2 operating income and sharply higher adjusted operating earnings. The company's collectibles business surged 57% and has grown to represent 45.1% of net sales, while adjusted EBITDA more than doubled, even as overall revenue fell year on year. CEO Ryan Cohen recently bought 1,000,000 shares on the open market using personal funds, and the company has paused buybacks under its new program. Five Simply Wall St Community fair value views on the stock span roughly US$30 to over US$400 per share, reflecting wide disagreement on how durable the collectibles growth and investment gains will prove.

Debenhams Group has sold the Nasty Gal brand, including its global intellectual property rights, to White Space Group New York for $16 million in cash. The British retailer, formerly known as Boohoo Group, bought Nasty Gal out of bankruptcy in 2017 for around $20 million in cash and helped the American fast-fashion label, which began as an eBay vintage clothing boutique, reach profitability. Debenhams said Nasty Gal generated gross merchandise volume of 12 million pounds and adjusted EBITDA of 400,000 pounds in 2026, describing the brand as noncore and not material to the group. The disposal follows the 90-million-pounds sale of automation at the group's Sheffield, England, distribution center, with the lease reassigned to Primark, and Debenhams said it aligns with its transition to a marketplace-led model that is capital-light, stock-light, cost-light and cash generative, targeting a marketplace representing well over 50 percent of gross merchandise value. Group chief executive Dan Finley said the turnaround continues at pace, and the company added that it returned to GMV growth in the first quarter, with growth accelerating in the second quarter ahead of a first-half trading statement later this week. WSG, a brand management firm, owns Von Dutch and the women's fashion brands Vintage Havana and Surf Gypsy, and co-owns the Allbirds intellectual property with American Exchange Group.

GameStop reported second-quarter operating income of $160.2 million, the highest second-quarter figure in its history, with adjusted operating income of $158.7 million versus $64.7 million a year earlier. Collectibles net sales jumped 57% year over year to $356.3 million and now account for 45.1% of total net sales, up from 23.4% in 2025, while SG&A expenses fell to $187.1 million from $218.8 million. Quarterly adjusted EBITDA more than doubled to $174 million from $75.7 million, and adjusted net income rose to $161.1 million from $138.3 million. Net sales fell 18.7% to $790.2 million from $972.2 million, which the company attributed to the prior-year launch of Nintendo Switch 2, the divestiture of its France operations, and store closures. After the quarter, GameStop cut long-term debt to approximately $2.8 billion through privately negotiated exchanges completed on September 3 that retired roughly $1.4 billion of its 0.00% Convertible Senior Notes due 2030 and 2032, and management raised its full-year FY26 adjusted EBITDA forecast to more than $650 million from more than $600 million.

GameStop chief executive Ryan Cohen and Uber chief executive Dara Khosrowshahi each made discretionary open-market purchases of their own companies' stock on September 10, 2026, spending roughly $20 million and $10 million respectively. Cohen, reporting as director, president, CEO and board chair of GameStop, acquired 1,000,000 shares of Class A common stock at $20.3759, while director Alain Attal bought 5,000 shares at $20.00 the same day. Khosrowshahi, as director and chief executive of Uber, acquired 141,000 shares of common stock at $70.9642. On both SEC Form 4 filings, the box indicating the trade was executed under a prearranged Rule 10b5-1 trading plan was left unmarked, meaning the purchases were discretionary; transaction code P, an open-market buy, is the rarest insider action and carries no routine explanation such as tax withholding or diversification. Cohen bought into a rebounding GameStop, where Q2 FY2026 collectibles revenue surged 57% year over year to $356.3 million and management raised FY2026 adjusted EBITDA guidance to more than $650 million, while Khosrowshahi bought into an Uber drawdown, with the stock down 24.3% over the past year even as Q2 FY2026 gross bookings rose 24% year on year to $58.02 billion and the consensus analyst target price stands at $101.21.

Ryan Cohen, the billionaire President, CEO and Chairman of GameStop Corp, purchased 1.0 million shares of the company for $20.4 million, according to an SEC Form 4 filing. The shares were acquired in multiple transactions at prices ranging from $20.0199 to $20.4699 per share, for a weighted average cost of $20.38. The purchase raised Cohen's total direct holdings to 39,347,842 shares from 38,347,842 shares, a stake valued at $802.3 million based on the Sept. 10, 2026 market close of $20.39. Total insider ownership of GameStop now stands at 9%, with Cohen remaining a primary holder of the outstanding equity. The company recently reported a 77% jump in second-quarter net income, with a large increase in overall revenue as well.

Best Buy Co., Inc. raised its fiscal 2027 outlook after a better-than-expected second quarter, lifting revenue guidance to $42.3-$42.8 billion from $41.2-$42.1 billion and adjusted earnings guidance to $6.70-$6.90 per share from $6.30-$6.60. The company also raised its adjusted operating income rate forecast to 4.4-4.5% from 4.3-4.4%, and now expects comparable sales to increase 1.9-3%, versus the prior range of a 1% decline to 1% growth. Domestic gross margin expanded 60 basis points to 24% in the second quarter, helped by Marketplace, Best Buy Ads and about $34 million of tariff refunds, and management expects the fiscal 2027 gross profit rate to improve about 30-40 basis points. Domestic Marketplace gross merchandise value reached about $300 million in the second quarter, and Best Buy raised its full-year Marketplace expectation to $1.3 billion, while Best Buy Ads is expected to grow 10% in fiscal 2027 after roughly $900 million in collections last year. Computing recorded its 10th consecutive quarter of positive comparable sales growth and domestic TV sales rose more than 10%, though industry-wide memory cost increases are raising computing prices, with average selling prices up in the mid-teens and unit volumes down in the high single digits.

Best Buy reported second-quarter adjusted earnings of $1.47 per share, up 15% and ahead of the Zacks Consensus Estimate of $1.37, while revenues rose 3.6% to $9.78 billion and enterprise comparable sales advanced 4.1%. The retailer raised its fiscal 2027 revenue guidance to $42.3-$42.8 billion and adjusted earnings guidance to $6.70-$6.90 per share, with comparable sales now expected to increase 1.9-3%, up from a prior range of a 1% decline to 1% growth. Domestic comparable sales rose 4.5% and domestic online comparable sales increased 5.1%, with the domestic gross profit rate expanding 60 basis points to 24%, helped by Marketplace, Best Buy Ads and about $34 million of tariff refunds. Computing delivered its 10th consecutive quarter of positive comparable sales growth and mobile phones posted a sixth straight quarter of growth, while combined sales of AI glasses, trading cards and health rings more than doubled year over year and contributed about one percentage point to comparable sales growth. Management expects computing growth to slow in the second half as comparisons get tougher and higher memory costs flow into the assortment, and the stock trades at 12.5X forward 12-month consensus EPS estimate, above its five-year median of 11.5X, carrying a Zacks Rank #3 (Hold).

GameStop director Cohen Ryan acquired 1 million common shares at an average price of $20.3759 per share, for a total of approximately $20.3759 million. This was disclosed in a document filed with the U.S. Securities and Exchange Commission on September 10, with the acquisition date also September 10. The SEC requires insiders of listed companies to disclose their stock transactions and holdings, and directors, executive officers, and major shareholders holding more than 10% of shares must file ownership reports known as Forms 3, 4, and 5 within a certain period after a transaction when there is a change in their holdings.

Debenhams Group has agreed to sell the automation assets at its Sheffield distribution center and reassign the associated lease to Primark Stores for £90 million in cash, a deal that should leave the company with negligible net debt by February 2027. Shares in Debenhams Group, formerly known as Boohoo Group, jumped around 8% on the news. The company received £76.5 million when the transaction completed, with the remaining £13.5 million due once it provides vacant possession early next year, all of which will strengthen a balance sheet that still carried £93.2 million of net debt at the end of February. Management now expects net debt to be negligible by the end of the current financial year in February 2027, an improvement from its previous target of getting leverage below one times adjusted EBITDA, and it expects annual depreciation to fall by around £12 million, interest expense to decline by at least £10 million and cash lease costs to drop by roughly £4 million. The group is simultaneously shifting fulfillment of the stocked goods it still carries to a global third-party logistics provider as part of a broader strategy to become a capital-light, stock-light and cost-light marketplace business, with marketplace activity eventually targeted to account for well over half of gross merchandise value. Group GMV returned to growth in the first quarter, rising 0.5%, before accelerating in the second quarter, while May alone delivered growth of roughly 8%.

GameStop shares rose 4% to $19.59 in Wednesday trading after the company reported a fiscal second-quarter earnings beat, a 57% jump in collectibles sales, and a same-day insider purchase by director Lawrence Cheng. Adjusted earnings per share came in at $0.27, above the consensus estimate of $0.19, while collectibles net sales surged to $356.3 million, helping drive record second-quarter operating income and a raised full-year adjusted EBITDA outlook. The gains are stock-specific, as the VanEck Video Gaming and eSports ETF fell 1% and peers Take-Two and Roblox offered no lift. Cheng purchased about $1.03 million of shares through Cheng Capital LLC on the day results were published, adding to the positive sentiment. Despite the rally, GameStop stock remains down 2% year to date, and the company held no earnings call, leaving the mix shift toward higher-margin collectibles as the key story for investors to watch.

COM7 is gearing up for the launch of the iPhone 18, confident of a positive reception, highlighting artificial intelligence (AI) features to spur consumer upgrade decisions. The company will leverage its ecosystem strengths and U-Fund to support sales, expecting to start recognizing revenue from the new iPhone models from mid-September onward. Mr. Thakol Niyomthai, Head of Investor Relations, revealed that demand for new iPhone models remains continuous despite potential price changes, as customers wanting the latest models still exist. The added AI features could be a significant incentive for upgrades aligned with usage cycles. Regarding U-Fund, the company manages credit quality well, with a non-performing loan (NPL) ratio of 0.84% as of mid-year, below the target of no more than 3%. The third-quarter 2026 performance trend is expected to grow from the same period last year, driven not only by iPhone but also by Android smartphones, MacBook notebooks, and various gadgets. COM7 continues to expand its clean energy and electric vehicle (EV) businesses. The Solar Rooftop business has a backlog of approximately 2-4 months, while the EV Taxi business delivers an average of about 300 vehicles per month, and has partnered with Grab to deliver the first phase of 1,000 electric vehicles. The company maintains its 2026 targets, expecting total revenue to grow approximately 15% from the previous year, with net profit growth of no less than 20%.

GrabAGun Digital Holdings Inc., an online retailer of firearms and related accessories, has appointed John Swanagon as Chief Technology Officer, effective September 1, 2026. Swanagon, who will report to CEO Marc Nemati, brings over 30 years of technology leadership experience, most recently as Chief Digital & Technology Officer at Optum Financial, where he managed a $200 million annual budget. He previously led engineering at SiriusXM's Connected Vehicles business, overseeing a 278-person team and commercializing an early in-vehicle commerce platform later acquired by Toyota. The appointment is part of GrabAGun's strategy to leverage AI and technology to scale its e-commerce and logistics operations.

Suning.com Group Co., Ltd., known as ST Suning, announced on September 8, 2026 that its subsidiaries Nanjing Suning Automobile Sales & Service Co., Ltd. and Nanjing Fadiou Intelligent Technology Co., Ltd. publicly listed a 100% equity stake in Jiangsu Yunsheng E-commerce Co., Ltd. through the Anhui Property Rights Trading Center. Wuxi Shijing Gaohui Enterprise Management Co., Ltd. won the bid for 2 yuan. The three parties signed an equity transfer agreement on September 3. Wuxi Shijing has completed payment of the equity price and completed the industrial and commercial registration change on September 8. The scope of the transferred assets does not include copyrights, software copyrights, or brand marks such as Suning and suning. The transferee has committed that the target company must not use any text or trademarks related to Suning, and must properly handle all debts payable by the target company. The company said this transaction will help improve operating performance and control risks, and is expected to increase the company's total profit by about 270 million yuan, subject to the audited periodic report data.

GameStop announced it has amended agreements with certain noteholders to exchange and cancel about $1.40 billion of its convertible notes due 2030 and 2032, a move that retires significant debt while increasing share dilution. Under the revised terms, noteholders will receive approximately 55.5 million GameStop shares and $358.40 million in cash, funded from existing cash reserves, instead of the original all-stock settlement. The company, which has a market capitalization of $8.25 billion, reported a 14% year-over-year revenue increase to $835.30 million for the quarter ended May 2, driven by a 65% surge in collectibles revenue to $348.90 million, now its largest segment. Net income soared 769.6% to $389.60 million, boosted by $268.40 million in unrealized gains on derivative assets tied to eBay. For the second quarter ended Aug. 1, GameStop expects net sales between $780 million and $800 million, down from $972.20 million a year earlier, but projects operating income of $150 million to $170 million and net income of $290 million to $310 million, including about $238 million in gains from its eBay investment. The company also converted its eBay derivative position into a direct stake of approximately 43.4 million shares, valued at about $4.95 billion, as of Aug. 1.

GameStop enters its Sept. 8 earnings report with a profit surge driven more by its investment portfolio than its video game stores. Preliminary results show fiscal second-quarter net income of $290 million to $310 million, up from $168.6 million a year earlier, but roughly $238 million in net gains came from GameStop's equity stake and derivative positions in eBay, partly offset by a $75 million loss on digital assets. As of Aug. 1, GameStop owned 43.4 million eBay shares valued at $4.95 billion, making eBay's stock performance a major earnings driver. Meanwhile, quarterly sales are expected to fall to between $780 million and $800 million from $972.2 million last year, a decline of roughly 18% to 20%, due to store closures, the sale of French operations, and a difficult comparison with last year's Nintendo Switch 2 launch. Operating income is expected to reach $150 million to $170 million, up from $66.4 million, but investors must separate sustainable operating improvement from market gains that could reverse if eBay shares weaken. GameStop ended the first quarter with $8.4 billion in cash and marketable holdings, authorized a $2 billion buyback program through June 2029, and used $358.4 million in cash and stock to exchange convertible notes.

Apple Inc. has scheduled its "Surprise and Shine" event for September 9, 2026, or around noon on September 10, Thailand time. The event is expected to unveil the iPhone 18 Pro, iPhone 18 Pro Max, and the company's first foldable screen innovation, which may be called the iPhone Ultra. Analysts at Liberator Securities indicate that ICT stocks will receive positive short-term sentiment, with COM7 highlighted as a top pick due to its more than 100 Studio7 stores and roughly 25% market share in Thailand's smartphone market. Meanwhile, same-store sales from July to August grew by double digits year-on-year, reflecting strong momentum.

COM7 shares rose 5.26% to 30.00 baht after KGI noted that Apple Inc. is scheduled to hold an event called "Surprise and Shine" on September 9, 2026, which is expected to unveil the iPhone 18 Pro, iPhone 18 Pro Max, and iPhone Fold. Citing KGI Taiwan's analysis, KGI expects Apple may raise prices for the iPhone 18 Pro and Pro Max by around $200, or an increase of 9-17% from the iPhone 17 series. Meanwhile, the iPhone Fold is expected to be priced at $2,000-2,500 due to memory costs rising to 30-40% of smartphone costs in the first half of 2026, up from 10% in 2025. KGI believes COM7 will see limited impact from the price increase, as it is in line with competitors, and expects 2026F profit to grow 19%, supported by non-IT businesses such as U-Fund and EV.

GameStop shares rose after the company released preliminary second-quarter results showing profits well above expectations, driven by a conversion of its derivative position in eBay into shares. The gaming retailer expects profits between $290 million and $310 million, up from $168 million a year ago, with the eBay conversion alone booking $238 million. GameStop now holds more than 43 million eBay shares worth nearly $5 billion. However, net sales are expected to decline to $780 million to $800 million from $972 million last year, and the company also anticipates a loss on its crypto holdings. The preliminary results were announced alongside an amendment to its $1.4 billion debt-for-stock swap, which fixes the share count. Final results are due on September 8th.

Best Buy reported fiscal second-quarter results on August 27 that beat expectations, with comparable sales rising 4.1% versus management's guidance of roughly 1%, and raised its full-year outlook. The company also announced a leadership transition, with CEO Corie Barry handing over to Jason Bonfig on November 1. Growth was broad-based, spanning computing, home theater, and emerging products like AI glasses and health rings, with home theater posting its best growth since fiscal 2022. However, management expects computing growth to slow in the second half, and rising memory costs are pushing up prices. International revenue fell 4.2%, and the company flagged about $130 million more in incentive compensation for the year, partially offset by a $34 million tariff refund. As of August 31, the stock traded at a forward P/E of 12.76, with short interest at 7.52% of float.

Best Buy reported better-than-expected fiscal second-quarter results, with comparable sales up 4.1% and adjusted earnings per share of $1.47, up 15% year over year, and raised its full-year guidance. CEO Corie Barry, who noted this is her last earnings call as CEO, said revenue reached $9.8 billion with an adjusted operating income rate of 4.3%. The company now expects full-year comparable sales growth of 1.9% to 3% and adjusted EPS of $6.70 to $6.90. Incoming CEO Jason Bonfig highlighted strong growth in emerging categories like AI glasses and trading cards, which more than doubled in the quarter, and announced the launch of Ask Blue, a conversational AI shopping assistant. Best Buy also raised its U.S. Marketplace GMV forecast to $1.3 billion for the year, up from a prior expectation, and expects to add international sellers later this quarter.

GameStop stock jumped about 5% in early trading Monday after the video game retailer announced preliminary second-quarter results, expecting a boost in profit partly due to its stake in eBay. The company said it expects net income of $290 million to $310 million for the quarter ending Aug. 1, compared with $168.6 million in the prior-year period. GameStop converted its eBay derivative position into eBay shares, generating about $238 million in gains, and now owns 43.4 million shares of eBay common stock valued at more than $4.9 billion. However, revenue is expected to decline to between $780 million and $800 million, down from $972.2 million last year. The preliminary numbers were released in connection with an amendment to its private exchange of $1.4 billion in convertible notes. GameStop stock is down 11% year to date, and earlier this year its unsolicited $56 billion bid to purchase eBay was rejected.

GameStop shares climbed 4% to $18.52 after the company amended its convertible note exchange to fix the total share count and pay part of the consideration in cash, eliminating the dilution overhang. The revised terms give noteholders roughly 55.5 million shares, or 73% of the consideration, and about $358.4 million in cash, or 27%, with no additional shares issuable. The exchange covers approximately $1.4 billion aggregate principal of 0.00% convertible senior notes due 2030 and 2032, and after closing, about $2.8 billion of notes will remain outstanding. GameStop also released preliminary Q2 results showing net income between $290 million and $310 million, boosted by a roughly $238 million gain on its eBay stake, despite net sales falling 20% year over year to $780-$800 million. Meanwhile, Roblox slipped 1% to $38.12, and Take-Two Interactive edged up 0.1% to $235.63 ahead of the Grand Theft Auto VI launch.

GameStop issued preliminary second-quarter earnings, expecting net income to climb even as sales fall. The videogame retailer anticipates net income of $290 million to $310 million for the 13 weeks ended Aug. 1, up from $168.6 million a year earlier, boosted by investment gains from its stake in eBay. The forecast includes about $238 million of net gains related to its eBay derivative asset and equity investment, partially offset by a loss of roughly $75 million on digital assets and related receivables. Net sales are projected between $780 million and $800 million, down from $972.2 million, reflecting the prior-year launch of Nintendo's Switch 2, planned store closures, and the divestiture of its French operations. GameStop also amended a deal to retire $1.4 billion in zero-coupon convertible notes, paying $358.4 million in cash instead of issuing additional shares.

In premarket trading, Chevron and other energy stocks rose as U.S. oil prices climbed more than 3% following U.S.-Iran strikes in the Middle East, with Halliburton up over 2.5% and Chevron up 2%. PG&E plunged 16% after California lawmakers blocked a proposal to limit wildfire liability, prompting downgrades from analysts including Mizuho. GameStop jumped 4% after reporting preliminary second-quarter results, expecting higher operating and net income despite lower net sales. Aon slipped 1.8% after announcing a $17 billion deal to buy USI Insurance Services from KKR. Pinterest fell over 3% as CFO Julia Brau Donnelly departs, with Vikram Naidu as interim replacement. Deere rose 1% on a Baird upgrade.

GameStop Corp. announced preliminary unaudited financial results for the second quarter ended August 1, 2026, revealing net sales expected between $780 million and $800 million, down from $972.2 million in the prior-year quarter, primarily due to the prior-year launch of Nintendo Switch 2, planned store closures, and the divestiture of its France operations. Operating income is projected to be $150 million to $170 million, compared to $66.4 million a year ago, while net income is expected to range from $290 million to $310 million, up from $168.6 million. The company's cash, cash equivalents, and marketable securities are expected to be between $5.050 billion and $5.070 billion, down from $8.694 billion, reflecting the conversion of its eBay Inc. derivative position into a direct equity investment. Net income includes approximately $238 million of net gains from the eBay investment, partially offset by a $75 million loss on digital assets. As of August 1, 2026, GameStop held about 43.4 million shares of eBay common stock valued at approximately $4.947 billion. Full second-quarter results are scheduled for release on September 8, 2026.

Yamada Holdings announced its first-quarter results for the fiscal year ending March 2027, with net sales of 420.218 billion yen (up 11.3% year-on-year) and ordinary income of 16.774 billion yen (up 14.5% year-on-year), marking growth in both revenue and profit. The electronics business accounted for over 80% of sales, driven by early replacement demand due to the 2027 air conditioner issue and record-high temperatures creating a special demand for air conditioners, which also boosted sales of large home appliances such as TVs and refrigerators, as well as non-appliance categories. On the other hand, the housing and construction segment saw a significant decline in operating profit, down 87.8%, but the full-year forecast remains unchanged. Additionally, for the shareholder benefit program with a record date at the end of September, shareholders holding 100 shares or more will receive shopping vouchers, with more generous terms for those holding less than 1,000 shares compared to the end of March.