1136 ET - Best Buy shares slumped after the company missed Wall Street's comparable sales estimates. Investors were probably expecting the electronics retailer to top the comps forecast, since point-of-sale data for the quarter looked strong and there were indications that demand for electronics would be pulled forward by the threat of tariffs, Davidson analysts Michael Baker and Keegan Cox say in a research note. Because the market was looking for a beat, the very slight miss is magnified and may stir up questions about whether the company is losing share, the analysts say. Shares fall 9.4% to $64.80. (dean.seal@wsj.com)
(END) Dow Jones Newswires
May 29, 2025 11:36 ET (15:36 GMT)
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