Reported about 1 month ago
Best Buy is projected to report a decline in sales as consumers delay purchases in favor of AI-enhanced products. Expected revenue for the quarter is $9.24 billion, reflecting a decrease of 3.62% year-over-year, with same-store sales estimated to fall by 3.17%. Analysts note that ongoing economic challenges and shifts in consumer spending priorities, particularly towards necessities, are contributing factors. However, a resurgence in demand for innovative technology, especially AI products, could provide a boost later in the year.
Source: YAHOO