Core Viewpoint - Best Buy has adjusted its revenue and profit guidance for fiscal 2026 due to the impact of higher tariffs, reflecting a challenging retail environment [2][3] Financial Performance - Best Buy's net income for the three-month period ending May 3 declined by approximately 18% to $202 million from $246 million in the same period last year [5] - First-quarter revenue dropped from $8.85 billion in the year-ago period [5] - Comparable sales fell by 0.7% year-on-year in the U.S., with declines in categories like home theaters and appliances, although there was growth in computing, cell phone, and tablet categories [6] Revenue Guidance - The company downgraded its revenue expectations for fiscal 2026 to a range of $41.1 billion to $41.9 billion, down from a previous range of $41.4 billion to $42.2 billion [2] Tariff Impact and Strategy - Best Buy has increased prices on some items due to higher costs from tariffs, with changes implemented by mid-May [2] - The company has reduced its reliance on Chinese imports, with China now accounting for 30% to 35% of its merchandise, down from 55% [7][8] - About 25% of merchandise comes from the U.S. or Mexico, which are not subject to tariffs, while the remaining 40% is sourced from other countries like Vietnam, India, South Korea, and Taiwan, which face a 10% tariff [7][8] Operational Adjustments - Best Buy has encouraged vendors to manufacture in multiple countries, negotiated lower costs, and adjusted its merchandise mix [9] - The company is focusing on improving customer experience, enhancing digital and in-store integration, and expanding its third-party marketplace and retail media businesses [9] Market Trends - Following a pandemic-related boost in sales for home offices and entertainment centers, Best Buy has faced declining sales over the past three years [10] - The lack of hit tech products has been a challenge, but new product launches, such as the Nintendo Switch 2, are anticipated to attract customers [11] - Smartphone sales have shown strength, with increased staffing at Best Buy stores by Verizon and AT&T to meet demand [12]

Economic Indicators - Initial Jobless Claims reached 240K last week, the highest in a month and 10K above consensus estimates, indicating potential softening in the labor market [3] - Continuing Claims hit 1.919 million, the highest since November 2021, suggesting an increase in long-term jobless claims [4] - Q1 2025 GDP was revised to -0.2%, improving from the first read and better than the expected -0.4%, with consumption decreasing from +1.8% to +1.2% [5] Inflation and Consumer Spending - The Pricing Index for Personal Consumption Expenditures (PCE) reached +3.7%, in line with expectations, while the Core Pricing Index was +3.4%, the highest since Q1 2024 [6] Company Earnings Reports - Best Buy (BBY) reported Q1 earnings of $1.15 per share, exceeding expectations of $1.09, with revenues of $8.77 billion, but cut guidance due to tariff conditions, leading to a -3% pre-market sell-off [7] - Kohl's (KSS) reported a loss of -$0.13 per share, better than the expected -$0.22, with revenues of $3.23 billion surpassing estimates by +0.88%, and maintained forward guidance, resulting in a +7% pre-market increase [8]

Company Overview - Proactive is a provider of fast, accessible, informative, and actionable business and finance news content aimed at a global investment audience [2] - The company operates with a team of experienced and qualified news journalists across key finance and investing hubs including London, New York, Toronto, Vancouver, Sydney, and Perth [2] Market Focus - Proactive specializes in medium and small-cap markets while also covering blue-chip companies, commodities, and broader investment stories [3] - The content delivered by the team includes insights across various sectors such as biotech and pharma, mining and natural resources, battery metals, oil and gas, crypto, and emerging digital and EV technologies [3] Technology Adoption - Proactive is recognized for its forward-looking approach and enthusiastic adoption of technology to enhance workflows [4] - The company utilizes automation and software tools, including generative AI, while ensuring that all published content is edited and authored by humans [5]

Group 1 - Best Buy Co Inc reported a revenue miss for the first quarter and has slashed its full-year sales outlook due to rising costs of electronics attributed to tariffs [1] - The company's stock price fell by 6.4%, trading at $66.98 [1] - Analysts are pessimistic about the shares, with potential for price-target cuts; 9 out of 22 firms still maintain a "strong buy" rating, while the 12-month consensus target price is $83.68, representing a 27.1% premium to current levels [2] Group 2 - Best Buy's stock is experiencing a 22.3% year-to-date deficit and has fallen below recent support levels, with the $76 region rejecting several rallies since early March [3] - A support floor at the $64 level is expected to contain current losses [3] - Today's options activity shows significant volume, with 13,000 calls and 12,000 puts traded, which is 10 times the typical volume; the most popular option is the August 67.50 call [3] Group 3 - The Schaeffer's Volatility Scorecard for Best Buy is at 78 out of 100, indicating that the stock has exceeded option traders' volatility expectations over the past 12 months [4]

Core Insights - Best Buy reported revenue of $8.77 billion for the quarter ended April 2025, a decrease of 0.9% year-over-year, with EPS at $1.15 compared to $1.20 in the same quarter last year [1] - The reported revenue matched the Zacks Consensus Estimate, indicating a surprise of +0.01%, while the EPS exceeded expectations by +5.50% [1] Financial Performance - Comparable store sales for the enterprise decreased by 0.7%, aligning closely with the nine-analyst average estimate of -0.6% [4] - Domestic comparable store sales also fell by 0.7%, matching the eight-analyst average estimate [4] - International comparable store sales decreased by 0.7%, which was worse than the -0.4% estimate from seven analysts [4] Store Metrics - Total number of international stores was 157, slightly below the average estimate of 160 from five analysts [4] - The number of domestic U.S. Best Buy stores was 886, close to the average estimate of 888 [4] - Total number of stores was 1,108, compared to the average estimate of 1,114 from four analysts [4] Geographic Revenue - International revenue was reported at $640 million, slightly above the six-analyst average estimate of $639.25 million, reflecting a year-over-year decline of 0.6% [4] - Domestic revenue reached $8.13 billion, exceeding the $8.11 billion average estimate from six analysts, but still representing a year-over-year decrease of 0.9% [4] Stock Performance - Best Buy's shares returned +7.2% over the past month, outperforming the Zacks S&P 500 composite's +6.7% change [3] - The stock currently holds a Zacks Rank 4 (Sell), suggesting potential underperformance relative to the broader market in the near term [3]

在下调年度预测后， 百思买股价下跌约6%。 ...

Core Viewpoint - Best Buy Co Inc reported disappointing first-quarter 2026 earnings, with sales and adjusted earnings falling short of analyst expectations [1][2]. Financial Performance - First-quarter sales decreased by approximately 1% year-over-year to $8.77 billion, missing the analyst consensus estimate of $9.22 billion [1]. - Adjusted earnings were reported at $1.15, below the consensus of $1.31 [2]. - The gross profit margin remained stable at 23%, while the operating margin declined from 3.5% to 2.5% [2]. Guidance and Outlook - The company updated its full-year guidance, expecting annual comparable sales growth to range from a decline of 1% to an increase of 1%, with an adjusted operating income rate similar to last year at approximately 4.2% [2][4]. - For Q2 FY26, comparable sales are expected to be slightly down compared to last year, with an adjusted operating income rate projected at approximately 3.6% [3]. - Fiscal 2026 adjusted earnings guidance was lowered from a range of $6.20-$6.60 per share to $6.15-$6.30 per share, compared to the consensus of $6.13 per share [3]. - Sales guidance was also reduced from $41.4 billion to $42.2 billion down to a new range of $41.1 billion to $41.9 billion, with the consensus around $41.44 billion [3]. Revenue Breakdown - Domestic revenue of $8.13 billion decreased by 0.9%, primarily due to a 0.7% decline in comparable sales [4]. - The decline in comparable sales was driven by decreases in home theater, appliances, and drones, partially offset by growth in computing, mobile phone, and tablet categories [4]. - Domestic online revenue increased by 2.1% on a comparable basis to $2.58 billion, representing 31.7% of total domestic revenue compared to 30.8% last year [4].

Company Impact - Best Buy lowered full-year forecasts for profits and sales for fiscal year 2026 due to expected tariff impacts [1][2] - Abercrombie & Fitch cut its profit outlook for 2025, citing a 30% tariff on imports from China and a 10% tariff on other imports, estimating a $50 million hit to profits [2] - Macy's reduced its full-year earnings per share outlook, attributing it to tariffs and moderation in consumer discretionary spending [3] - Target expects sales decline throughout 2025, previously projecting 1% growth, due to weaker spending amid tariff uncertainty [3] - Diageo warned of a likely $150 million hit to annual profits in 2025, planning to offset half of this impact through unspecified actions [4] - Walmart's CEO indicated that higher tariffs would lead to higher prices, as the company cannot absorb all the pressure from narrow retail margins [5] - Ford expects tariffs to reduce earnings before interest and taxes by about $1.5 billion in 2025, suspending its full-year guidance [8] - General Motors lowered its earnings forecast for 2025 to between $10 billion and $12.5 billion, down from $13.7 billion to $15.7 billion, due to tariff impacts [11] Industry Trends - Companies across various sectors, including automotive, retail, and consumer goods, are withdrawing or lowering financial guidance due to tariff-related uncertainties [6][12] - The overall sentiment in the market reflects heightened caution, with many companies citing macroeconomic volatility and evolving trade policies as significant concerns [10][14] - The impact of tariffs is leading to increased operational costs and reduced consumer spending, affecting sales forecasts across multiple industries [9][15] - Airlines, including JetBlue and American Airlines, are pulling their full-year guidance due to macroeconomic uncertainty exacerbated by tariffs [12][16] - The uncertainty surrounding tariffs is causing companies like Snap and Logitech to decline issuing future guidance, reflecting a broader trend of caution in financial forecasting [13][16]

Core Insights - Best Buy reported quarterly earnings of $1.15 per share, exceeding the Zacks Consensus Estimate of $1.09 per share, but down from $1.20 per share a year ago, representing an earnings surprise of 5.50% [1] - The company posted revenues of $8.77 billion for the quarter ended April 2025, slightly surpassing the Zacks Consensus Estimate by 0.01%, but down from $8.85 billion year-over-year [2] - Best Buy shares have declined approximately 16.6% year-to-date, contrasting with the S&P 500's gain of 0.1% [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $1.30 on revenues of $9.24 billion, and for the current fiscal year, it is $6.15 on revenues of $41.38 billion [7] - The estimate revisions trend for Best Buy is currently unfavorable, leading to a Zacks Rank 4 (Sell) for the stock, indicating expected underperformance in the near future [6] Industry Context - The Retail - Consumer Electronics industry, to which Best Buy belongs, is currently ranked in the bottom 7% of over 250 Zacks industries, suggesting a challenging environment for the stock [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which could impact Best Buy's stock performance [5]

Core Viewpoint - Best Buy (BBY.US) reported a 0.9% year-over-year decline in revenue for Q1, totaling $8.77 billion, primarily due to a drop in same-store sales in both domestic and international markets [1][2] Financial Performance - Revenue decreased to $8.77 billion, down 0.9% year-over-year [1] - Earnings per share (EPS) were $1.15, exceeding the expected $1.09 but down from $1.20 in the same quarter last year [1] - Domestic gross margin increased by 10 basis points to 23.5%, attributed to improved performance in service categories, although offset by pressures in Best Buy Health and reduced profit-sharing income from private label and co-branded credit card arrangements [1] Sales Performance - Same-store sales in the U.S. fell by 0.7%, worse than the expected decline of 0.6%, driven by weak sales in drones, appliances, and home theater products, partially offset by growth in tablets, smartphones, and computers [1][2] - International revenue decreased by 0.6% to $640 million, impacted by negative foreign exchange effects of approximately 450 basis points and a 0.7% decline in same-store sales [2] Future Outlook - The company lowered its sales and profit forecasts, expecting fiscal year revenue between $41.1 billion and $41.9 billion, with a midpoint of $41.5 billion, slightly above market expectations [2] - Same-store sales growth is now projected to be a maximum of 1%, down from a previous estimate of 2%, due to ongoing tariff issues affecting imports from China [2] - EPS guidance was revised down from $6.20-$6.60 to $6.15-$6.30, with a midpoint of $6.225, compared to market expectations of $6.13 [2] Market Challenges - The company faces challenges due to a lack of attractive tech products to draw customers, although the upcoming launch of Nintendo's Switch 2 may positively impact same-store sales, with an expected growth of 1% over the next four quarters [3]