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People walk past a Best Buy store in Manhattan, New York City, November 22, 2021.Andrew Kelly | ReutersBest Buy surpassed Wall Street's revenue and earnings expectations for the holiday quarter on Thursday, even as the retailer navigated through a period of tepid consumer electronics demand and guided to a softer year ahead.For this fiscal year, Best Buy anticipates revenue will range from $41.3 billion to $42.6 billion. That would mark a drop from the most recently ended fiscal year, when full-year revenue totaled $43.45…

People walk past a Best Buy store in Manhattan, New York City, November 22, 2021.Andrew Kelly | ReutersBest Buy cut its full-year sales outlook Tuesday, as the company weathers a period of cooler demand and prepares for price-conscious holiday shoppers.The consumer electronics retailer beat Wall Street's quarterly earnings expectations, but fell short on revenue.Best Buy said it now expects revenue to range from $43.1 billion to $43.7 billion for the fiscal year, down from its previous range of between $43.8 billion to…

Updated Nov. 15, 2023 8:11 am ETPeople are skipping their Target runs, but the company is finding ways to boost profits.Target sales fell in the period just before the holiday shopping season as it grappled with choosy shoppers cutting spending on some products and visiting stores less often. Comparable sales, those from stores and digital channels operating at least 12 months, fell 4.9% in the three months ended Oct. 28 from the prior year.Copyright ©2023Dow Jones & Company, Inc. All Rights Reserved.…

Consumer caution constrains earnings for retailers Dick’s, e.l.f. Beauty and Williams-Sonoma. Consumer caution constrains earnings for retailers Dick’s, e.l.f. Beauty and Williams-Sonoma. FOLLOW US ON GOOGLE NEWS Read original article here Denial of responsibility! Techno Blender is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the…

Best Buy on Thursday topped Wall Street's quarterly earnings expectations, but its sales missed estimates and it reiterated expectations for weaker spending on consumer electronics this year.The company's shares rose more than 2% in early trading Thursday.The retailer affirmed the outlook it shared in March. It expects full-year revenue of between $43.8 billion and $45.2 billion, a decline from its most recent fiscal year, and a comparable sales drop of between 3% and 6%.On a call with analysts, CEO Corie Barry said as…

Best Buy Co. is cutting store jobs across the country, as the electronics and appliance retailer works to lower costs and shift its business as more sales happen online. This week, many store workers that specialize in selling more complex products such as computers and smartphones, dubbed “consultants” inside the company, were told their jobs would be eliminated, according to people familiar with the situation.  Best Buy Co. is cutting store jobs across the country, as the…

The maker of Tonka trucks and Lite-Brite normally introduces four new toys a year. Last year, Basic Fun Inc. introduced one. Manufacturers and retailers of everything from computers to dresses hit pause in the past few years when it came to innovation, the result of pandemic-related upheavals in the design, manufacture and distribution of goods, industry executives said. Shifting consumer demand and the expectation of an economic slowdown also played a role, the executives said.  New merchandise gives…

Customers shop at a Best Buy store on August 24, 2021 in Chicago, Illinois.Scott Olson | Getty ImagesBest Buy on Thursday reported holiday-quarter earnings and revenue that topped Wall Street's expectations, as waning demand for consumer electronics wasn't as bad as feared.Still, shares were down about 4% in early trading as the retailer warned of declining sales in the coming year.For the coming fiscal year, the consumer electronics retailer said it expects revenue between $43.8 billion and $45.2 billion, a decline from…

Consumers pulled back on purchases of apparel and electronics in recent months while continuing to spend on groceries and other necessities, according to some of the largest U.S. retailers. Department-store chain Macy’s Inc. M 7.49% on Thursday said sales were down 4.6% in the fourth quarter, as people spent less online and in stores. Macy’s has said that the days around Christmas were a bright spot in an otherwise underwhelming holiday season as it burned off inventory.…

When Teresa Kurtz ‘s 78-year-old mother accidentally locked herself out of her home last week in Cedar Rapids, Iowa, she pulled out her Jitterbug flip phone to seek help, only to discover no calls would go through. “This was one little instance where it’s like, oh my gosh, this is her lifeline,” said Ms. Kurtz, 60, about her mother, who lives alone and faced chilly temperatures before receiving help from a neighbor. Ms. Kurtz’s mother is among users of the Best Buy Co.…