Retail

Best Buy (BBY) earnings Q4 2021 beat projections, but sales gains slow

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Customers wait outside of a Best Buy store in downtown Toronto, Ontario on November 23, 2020 to pick up their online orders.

Geoff Robbins | AFP | Getty Images

Best Buy‘s fourth-quarter earnings outpaced Wall Street’s expectations Thursday, but it fell short on revenue as its sales growth slowed compared with earlier months of the pandemic.

The retailer said its sales will likely slow even further. Chief Financial Officer Matt Bilunas said same-store sales are expected to range from a drop of 2% to a gain of 1% this year. The forecast assumes that customers resume or accelerate spending in areas such as travel and dining out in the back half of the year, he said.

Best Buy’s shares closed…



Source cnbc.com

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