Powered by

Best Buy 2Q profit beats estimates, but revenue misses : Best Buy 2Q profit beats estimates, but revenue misses

Aug 29, 2019 - The Canadian Press
Board and Executive Moves-Financial Results

NEW YORK - Best Buy Co. reported a sales shortfall for the fiscal second quarter and trimmed its annual sales forecast, blaming uncertainty surrounding an escalating trade war with China heading into the holiday shopping season.

Shares of the retailer fell 8% in afternoon trading Thursday.

"It is difficult to factor in the uncertainty related to overall customer buying behaviour," said Best Buy's newly appointed CEO Corie Barry during a call with analysts on Thursday. "It is hard to ...