Best Buy’s Sales Cool, and It Warns of a Rough Year Ahead

Electronic retailers Best buy reported a drop in revenue and profit for the latest quarter and said the results for the current financial year will be worse than previously anticipated amid increased promotions and higher supply chain costs. .

“Macro conditions have worsened since we released our guidance in early March, including higher inflation and the war in Ukraine leaving our sales slightly lower. compared to our expectations and supply chain costs were slightly higher than planned,” said the Best Buy CEO. Corie Barry on a call with analysts Tuesday.

https://www.wsj.com/articles/best-buys-sales-cool-and-it-warns-of-a-rough-year-ahead-11653394297?mod=pls_whats_news_us_business_f Best Buy’s Sales Cool, and It Warns of a Rough Year Ahead

Edmund DeMarche

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