Best Buy Revenues Dip as Consumers Await ‘Deals and Sales'
Best Buy(BBY) PYMNTS.com·2024-11-27 06:43
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 ...