Hesitant Consumers Hurt Best Buy Results

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 ...