Best Buy Sees Steeper Decline in Annual Comparable Sales

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Best Buy Sees Steeper Decline in Annual Comparable Sales

Reuters2023-11-21

Best Buy said on Tuesday it expects a steeper drop in full-year comparable sales, anticipating shoppers to remain selective in purchases of big-ticket items like electronics and home appliances despite elevated holiday season promotions.

The top U.S. electronics retailer now expects annual comparable sales to decline in the range of 6.0% to 7.5%, compared with its prior range of a 4.5% to 6.0% drop.

Stocks slid nearly 3% in premarket trading.

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