Best Buy down after cutting annual forecasts on tariff uncertainty
ReutersMay 29, 2025 12:27 PM
Shares of electronics retailer Best Buy BBY.N down ~3% at $69.70 premarket
Co cuts annual forecasts amid looming concerns about tariff uncertainty
Expects fiscal 2026 comparable sales to be in the range of down 1% to up 1% vs prior forecast of flat-to-up 2%
Expects adjusted earnings per share between $6.15 and $6.30 vs prior range of $6.20 to $6.60
Co's quarterly same-store sales dip 0.7% vs analysts' estimates of 0.6% drop, as per data compiled by LSEG
Up to last close, stock down 16.6% YTD
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