US EditionBest Buy cuts full-year sales and profit guidance as tariffs raise cost of electronics
- On May 29, 2025, Best Buy reported weaker quarterly revenue and lowered its full-year sales and profit forecasts due to tariff-related cost pressures in the United States.
- The company faces tariffs including a 30% U.S. Duty on Chinese imports and a 25% Mexico duty from the previous administration, affecting its merchandise sourced mainly from China and Mexico.
- Best Buy saw declines in categories such as home theaters, appliances, and drones, while growth in computing, mobile phones, and tablets partially offset losses during the fiscal first quarter ending May 3.
- The retailer posted $8.77 billion in revenue, missing the $8.81 billion estimate, and earnings of $1.15 per share, beating the $1.09 expectation; comparable U.S. Sales fell 0.7% year over year.
- Best Buy expects fiscal 2026 revenue between $41.1 billion and $41.9 billion and adjusted earnings per share from $6.15 to $6.30, anticipating tariffs will persist without changing consumer behavior significantly.
55 Articles
55 Articles
Tariffs Test Mass Sales Campaigns
The tariff war between the United States and China, and the 19 percent tax imposed on products imported from countries without a treaty with Mexico, which arrive in the country through digital platforms –Shein, Temu and Amazon – could shake massive sales campaigns such as the one in force: Hot Sale.Perhaps the impact will not be at the income level, but it will be in a logistical and price increase context, mainly for goods imported from China.A…
Best Buy lowers revenue outlook for Fiscal Year 2026 due to tariffs
Best Buy released its quarterly earnings report on Thursday detailing its missed revenue earnings and the impact of tariffs on its full-year sales.Matt Bilunas, Best Buy CFO, said in a news release that the company is updating its full-year guidance to reflect the potential impact of the tariffs."We expect annual comparable sales growth to be in the range of down 1% to up 1%, and our adjusted operating income rate to be similar to last year at a…
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