Earnings

Best Buy sets new financial targets for fiscal 2025 at investor day

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Best Buy CEO Corie Barry on Wednesday walked investors through the company’s plan to keep growing sales: staying rooted in the consumer electronics category, while pushing further into in-home services like its Geek Squad network, and growing in health.

The investor meeting held in New York, Best Buy’s first in two years, was a chance for Barry, who took over the chief executive position in June, to lay out fresh five-year financial goals.

The electronics retailer is targeting $50 billion in revenue by fiscal 2025, and expects operating income over that time frame to accelerate to a 5% rate, compared with a growth rate of 4.6% in fiscal 2019. The company also said it plans to cut an…



Source cnbc.com

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