Best Buy Adjusts Full-Year Outlook Amid Cooling Demand and Price-Conscious Shoppers
Consumer electronics retailer Best Buy has revised its full-year sales outlook downward, citing a period of subdued demand and preparing for cost-conscious holiday shoppers. While the company exceeded Wall Street's quarterly earnings expectations, its revenue fell short. Best Buy anticipates fiscal year revenue to range between $43.1 billion and $43.7 billion, down from the previous estimate of $43.8 billion to $44.5 billion. The company projects a decline in comparable sales between 6% and 7.5%, compared to the earlier guidance of...