From CNBC: 2024-11-26 13:58:36

Best Buy’s fiscal 2025 third quarter revenue fell 3.2% to $9.45 billion, missing analyst estimates. Adjusted earnings per share dropped 2.3% to $1.26, lower than the expected $1.29. CEO attributed weak sales to macroeconomic uncertainty and election distraction. Despite challenges, holiday sales are picking up with a 5% increase in November. Best Buy is focusing on enhancing the experiential aspect of buying technology to combat online shopping.

While Best Buy’s quarterly results were below expectations, the company is optimistic about holiday sales. The team is leaning into the experiential aspect of trying out tech products before buying, leveraging physical locations. Management trimmed sales, earnings, and same-store sales outlook for fiscal 2025 but maintained operating income guidance. Adjusted earnings per share is now expected to be between $6.10 and $6.25.



Read more at CNBC:: We knew Best Buy’s quarter and guide would be weak. Here’s our plan for the stock