BUZZ-Best Buy down after cutting annual forecasts on tariff uncertainty

Reuters
2025/05/29
BUZZ-Best Buy down after cutting annual forecasts on tariff uncertainty

** 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

(Reporting by Anuja Bharat Mistry in Bengaluru)

((AnujaBharat.Mistry@thomsonreuters.com))

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