_best-buy39s-q1-earnings-disappoint-on-revenue-miss-amid-soft-demand-for-consumer-electronics.jpg "Best Buy's Q1 Earnings Disappoint on Revenue Miss Amid Soft Demand for Consumer Electronics from slime inflation Video Screenshot Preview")
GalleryPlay Video:
(Note: The default playback of the video is HD VERSION. If your browser is buffering the video slowly, please play the REGULAR MP4 VERSION or Open The Video below for better experience. Thank you!)
⏲ Duration: 0:32
👁 View: 260K times
✓ Published: 31-May-2024
👁 View: 260K times
✓ Published: 31-May-2024
Description:
Best Buy reported fiscal first quarter earnings that missed revenue estimates but beat on EPS and reaffirmed full-year guidance. Comparable sales and online sales fell over 6% overall as demand for consumer electronics remained soft. Profits were supported by cost-cutting measures like layoffs and trimmed capital expenditures. The company expects sales trends to improve over the next 3 quarters gradually but macro headwinds from inflation remain a challenge. Shares jumped 10% on the results.
Best Buy reported fiscal first quarter earnings that missed revenue estimates but beat on EPS and reaffirmed full-year guidance. Comparable sales and online sales fell over 6% overall as demand for consumer electronics remained soft. Profits were supported by cost-cutting measures like layoffs and trimmed capital expenditures. The company expects sales trends to improve over the next 3 quarters gradually but macro headwinds from inflation remain a challenge. Shares jumped 10% on the results.
Share with your friends:
Whatsapp | Viber | Telegram | Line | SMS
Email | Twitter | Reddit | Tumblr | Pinterest
_us-economic-growth-revised-down-to-1-3-in-q1-consumer-spending-slows.webp "US economic growth in the first quarter was revised down slightly from an initial estimate of 1.6% to 1.3% on an annualized basis. Consumer spending, a key driver of growth, increased slower than previously estimated as spending on goods declined. Inflation remained elevated above a 3% annual rate, driven partly by higher energy and food costs. Core inflation rose to 3.6%. Services spending growth remained solid at 3.9%, the strongest since mid-2021. The outlook remains uncertain as inflation exceeds the Fed's 2% target, potentially delaying planned rate cuts.")
_inflation-animation-test.webp "Peanut Tummy")
_slime-inflation-1.webp "Fat furs (Don't ban or hack)")
_are-shoppers-becoming-less-brand-loyal-amid-the-cost-of-living-crisis.webp "As food prices rise by around 24% on average, customers have changed their shopping habits to keep up with increased costs.")
_tribal-hunter-stuffed-with-slime-inflation-noms-shorts.webp "GaroShadowscale Furry")
_ex-treasury-secretary-larry-summers-warns-trump39s-re-election-may-push-mortgage-rates-beyond-10-39never-been-a-presiden.webp "Tax cuts, tariff hikes, labor supply curb by clamping down on immigrants -part of Trump's economic agenda bode ill for inflation: Summers. The economist, however, says it's difficult to predict the timing and the precise dynamics.")
_slime-inflation.webp "Cute inflation girl")
_bomby-slime-inflation.webp "HDSkele Ton")
_us-economic-growth-revised-down-to-1-3-in-q1-consumer-spending-slows.jpg)
_inflation-animation-test.jpg)
_slime-inflation-1.jpg)
_are-shoppers-becoming-less-brand-loyal-amid-the-cost-of-living-crisis.jpg)
_tribal-hunter-stuffed-with-slime-inflation-noms-shorts.jpg)
_ex-treasury-secretary-larry-summers-warns-trump39s-re-election-may-push-mortgage-rates-beyond-10-39never-been-a-presiden.jpg)
_slime-inflation.jpg)
_bomby-slime-inflation.jpg)
![[+]](/images/menu.gif){kind=small}