Best Buy says cautious, deal-chasing consumers and the presidential election kept quarterly sales muted.The electronics retailer released earnings Tuesday (Nov. 26) showing a 2.9% drop in comparable sales, higher than the 1% dip forecast in the company’s guidance. CEO Corie Barry said Best Buy’s sales performance was impacted by softer-than-expected consumer demand in September and October.“We attribute this to a combination of overall ongoing macro uncertainty, customers waiting for deals and sales, and di ...

Key TakeawaysBest Buy's laptop-computer sales increased 7% year-over-year for the company's latest quarter as people replaced older equipment.But shoppers at Best Buy have cut back on buying home theater equipment and other more discretionary items, the retailer's executives said.Price cuts have helped drive demand at Best Buy, but only by so much, according to Chief Executive Officer Corie Barry. Laptop demand is brisk at Best Buy, but sales are slowing for home theater equipment and other discretionary el ...

Advertisement Best Buy is bracing for Trump's proposed tariffs on imports from China and Mexico."There's very little in the consumer electronics space that is not imported," CEO Corie Barry said.Barry said consumers typically bear some of any added costs in the form of higher prices.Best Buy is bracing for the impact of Donald Trump's proposed tariffs on imports from China and Mexico — especially as the vast majority of items it sells come from the two countries.CEO Corie Barry said Tuesday during the reta ...

Best Buy Co., Inc. (NYSE:BBY) Q3 2025 Earnings Conference Call November 26, 2024 8:00 AM ET Company Participants Mollie O'Brien - Head of Investor Relations Corie Barry - Chief Executive Officer Matt Bilunas - Chief Financial Officer Jason Bonfig - Senior Executive Vice President, Customer Offerings and Fulfillment Conference Call Participants Peter Keith - Piper Sandler Scot Ciccarelli - Truist Securities Anthony Chukumba - Loop Capital Markets Steven Forbes - Guggenheim Securities Joseph Feldman - Telsey ...

Key TakeawaysBest Buy reported lower-than-expected third-quarter profit and revenue as consumers held back spending.The electronics retailer blamed ongoing economic worries, customers waiting for deals, and the run-up to the presidential election for the weak performance.Best Buy cut its full-year outlook for earnings, revenue, and comparable store sales. Best Buy (BBY) shares slumped 7% late Tuesday morning after the electronics retailer missed profit and sales estimates and slashed its guidance as consume ...

For the quarter ended October 2024, Best Buy (BBY) reported revenue of $9.45 billion, down 3.2% over the same period last year. EPS came in at $1.26, compared to $1.29 in the year-ago quarter.The reported revenue represents a surprise of -1.93% over the Zacks Consensus Estimate of $9.63 billion. With the consensus EPS estimate being $1.30, the EPS surprise was -3.08%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expect ...

Shares of Dick's Sporting Goods Inc (NYSE:DKS) and Best Buy Inc (NYSE:BBY) are in focus today, after both retail giants reported third quarter results.After opening at $227.67, Dick's Sporting Goods stock was last seen 0.1% higher at $216.00, after the sporting goods retailer posted better-than-expected earnings and revenue for the quarter, as well as a strong outlook for the holiday shopping season. The firm raised its full-year guidance, and anticipates fiscal 2024 same-store sales growth of between 3.6% ...

About this content About Oliver Haill Oliver has been writing about companies and markets since the early 2000s, cutting his teeth as a financial journalist at Growth Company Investor with a focusing on AIM companies and small caps, before a few years later becoming a section editor and then head of research. He joined Proactive after a couple of years freelancing, where he worked for the Financial Times Group, ITV, Press Association, Reuters sports desk, the London Olympic News Service, Rugby World Cup ...

Best Buy (BBY) came out with quarterly earnings of $1.26 per share, missing the Zacks Consensus Estimate of $1.30 per share. This compares to earnings of $1.29 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -3.08%. A quarter ago, it was expected that this consumer electronics retailer would post earnings of $1.15 per share when it actually produced earnings of $1.34, delivering a surprise of 16.52%.Over the last four quarters ...

Best Buy on Tuesday cut its full-year sales forecast as it missed Wall Street's quarterly revenue expectations and a fresh batch of iPhones and AI-enabled laptops weren't enough to drive higher sales.The consumer electronics retailer said it now expects full-year revenue to range from $41.1 billion to $41.5 billion, compared to prior guidance of $41.3 billion to $41.9 billion. It expects full-year comparable sales to decline by between 2.5% and 3.5%, compared to its prior expectations of a 1.5% to 3% drop. ...