Best Buy warns tariffs may drive up prices

Quick Summary:

The consumer electronics retailer saw sales fall and profits plunge in both its fourth quarter and full year.

Looking ahead, he said the company’s guidance for Q1, which anticipates negative comps with growth possible for the following quarters suggests that Best Buy’s decline may be bottoming out.“As a brand, Best Buy is well regarded,” Saunders said.“It is also trusted.

Best Buy issued guidance for the upcoming fiscal year that forecasts revenue ranging from $41.4 billion to $42.2 billion and comparable sales ranging from flat to 2%.

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Article Details

Author / Journalist: Nate Delesline III

Category: EconomyBusiness

Markets: United StatesChinaIndiaMexico

Topics: Consumer Stores Tuesday Plans Tariffs Year Sales Format Electronics Barry Company

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-03-05 @ 12:06:00 (1 days ago)

News Timezone: GMT +8:00

News Source URL: retaildive.com

Language: English

Article Length: 591 words

Reading Time: 4 minutes read

Sentences: 26 lines

Sentence Length: 23 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Retail Dive

News ID: 26682348

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