Reported about 13 hours ago
Best Buy exceeded quarterly sales and profit expectations but maintained its annual forecasts due to concerns over tariffs, resulting in a 5.7% drop in share prices. The company's efforts to mitigate tariff impacts included diversifying its supply chain and implementing strategic price hikes. Sales of popular products like the Nintendo Switch 2 and AI-powered devices helped stabilize revenue, with comparable sales rising 1.6%, the highest growth in three years.
Source: YAHOO