Earnings

Best Buy (BBY) earnings Q3 2024

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People walk past a Best Buy store in Manhattan, New York City, November 22, 2021.

Andrew Kelly | Reuters

Best Buy cut its full-year sales outlook Tuesday, as the company weathers a period of cooler demand and prepares for price-conscious holiday shoppers.

The consumer electronics retailer beat Wall Street’s quarterly earnings expectations, but fell short on revenue.

Best Buy said it now expects revenue to range from $43.1 billion to $43.7 billion for the fiscal year, down from its previous range of between $43.8 billion to $44.5 billion. The retailer said it expects comparable sales to decline by between 6% and 7.5%, lower than its previous guidance of a 4.5% to 6% drop.

It also lowered the…



Source cnbc.com

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