financetom
Business
financetom
/
Business
/
Best Buy cuts annual profit, sales forecasts on tepid holiday demand
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Best Buy cuts annual profit, sales forecasts on tepid holiday demand
Nov 26, 2024 4:35 AM

Nov 26 (Reuters) - Best Buy ( BBY ) cut its annual

profit and sales forecast on Tuesday, in a sign that the holiday

shopping season would be marked by aggressive discounts and

tepid demand for pricey electronics such as televisions and home

theater systems.

The U.S. electronics retailer now expects annual comparable

sales to decline between 2.5% and 3.5%, compared with its

earlier forecast of a decline between 1.5% and 3%.

Best Buy ( BBY ) expects annual adjusted profit per share of $6.10

to $6.25, compared with earlier target of $6.10 to $6.35.

(Reporting by Juveria Tabassum; Editing by Sriraj Kalluvila)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
LuxUrban Hotels to Implement 1-for-70 Reverse Stock Split
LuxUrban Hotels to Implement 1-for-70 Reverse Stock Split
Nov 15, 2024
05:00 PM EST, 11/15/2024 (MT Newswires) -- LuxUrban Hotels ( LUXH ) said late Friday it will implement a 1-for-70 reverse split of its common stock, which will become effective on Wednesday. The company said the split, which was approved during a special shareholders' meeting on Tuesday, will help fortify its standing in the Nasdaq Capital Markets, improve the stock's...
Home Depot Insider Sold Shares Worth $12,239,076, According to a Recent SEC Filing
Home Depot Insider Sold Shares Worth $12,239,076, According to a Recent SEC Filing
Nov 15, 2024
04:56 PM EST, 11/15/2024 (MT Newswires) -- Ann Marie Campbell, Senior Executive Vice President, on November 14, 2024, sold 29,968 shares in Home Depot ( HD ) for $12,239,076. Following the Form 4 filing with the SEC, Campbell has control over a total of 79,926 shares of the company, with 67,361 shares held directly and 12,565 controlled indirectly. SEC Filing:...
Nvni Files Appeal Against Nasdaq Delisting
Nvni Files Appeal Against Nasdaq Delisting
Nov 15, 2024
04:56 PM EST, 11/15/2024 (MT Newswires) -- Nvni Group ( NVNI ) said Friday that it filed an appeal of a delisting determination to the Nasdaq Hearings Panel. The appeal stays the suspension of Nvni's ( NVNI ) securities from the exchange for 15 days, according to the company. Nvni ( NVNI ) said it plans to file for an...
Intrum files for bankruptcy in US to restructure $4.5 billion debt pile
Intrum files for bankruptcy in US to restructure $4.5 billion debt pile
Nov 15, 2024
(Reuters) - Intrum, Europe's biggest debt collector, on Friday said it had filed for Chapter 11 bankruptcy in the United States in a bid to restructure its debt. The company has struggled as the pandemic, an energy crisis and two-decade-high interest rates failed to unleash a wave of loan defaults, with concerns mounting over Intrum's net debt, which reached 49.4...
Copyright 2023-2026 - www.financetom.com All Rights Reserved