Best Buy Co Inc (NYSE:BBY) is positioned for a new phase of growth under incoming CEO Jason Bonfig, according to Jefferies analysts, who said that recent discussions with the executive left them increasingly confident in the company’s outlook amid shifting dynamics in consumer…
ectronics. Jefferies sees a supportive backdrop for the retailer as replacement cycles, product innovation and category complexity converge, creating what it describes as an opportunity for higher industry growth and above-average expansion for Best Buy
The firm highlighted potential upside drivers, including retail media, third-party marketplace growth, TV replacement demand, and share gains in appliances. Jefferies pointed to Bonfig’s long-standing relationships with key vendors as a strategic advantage, particularly in the context of ongoing supply chain constraints such as memory chip shortages. The analysts also highlighted his role in securing Best Buy’s early exclusivity around RGB televisions, citing it as evidence of his ability to commercialize emerging technology trends.
According to Jefferies, the launch of RGB TVs is expected imminently, with employee training completed and a broad marketing campaign set to begin later this month. The rollout will include bundled services such as delivery, installation and haul-away, which the firm said reflects a deliberate effort to target consumers who may not yet have an urgent replacement need. On Best Buy’s advertising business, Jefferies said recent technology investments could enable more flexible and scalable campaign formats, including multiple simultaneous store “takeover” campaigns across different geographies and customer segments.