BBY

The nation’s second-largest U.S. pharmacy chain by locations poured money last year into additional security, some of which executives said was ineffective, and it is now considering cutting back as losses from theft have dropped significantly, finance chief James Kehoe said Thursday. “Maybe we cried too much last year,” over theft losses, Mr. Kehoe said on a call with analysts to discuss Walgreens’s quarterly results. “We probably put in too much, and we might step back,” he said, regarding…

Americans returned to their prepandemic habits on Black Friday as they spent more time and money in stores than last year, but some data show they were also cautious with spending as inflation weighs on their pocketbooks. The boost in store traffic over Black Friday comes after a surge last year from 2020, the first year of the Covid-19 pandemic when many shoppers favored buying online. Shoppers still bought items online this year, but many browsed in stores, reveling in a holiday tradition, according to early data. Some…

Black Friday is back—even if many of the door-buster deals aren’t.Millions of Americans are expected to visit bricks-and-mortar stores on the Friday after Thanksgiving as the Covid-19 pandemic recedes and people return to prepandemic habits. That is a reversal of the past two years, when they were largely stuck at home and did more shopping online. This year, however, many household budgets are pinched by high gas and grocery prices. With many stores closed on Thanksgiving, retailers are preparing for a big surge on…

Best Buy Co. and Dick’s Sporting Goods Inc. reported mixed quarterly results but said sales wouldn’t fall as much as previously expected, signs that consumers are feeling the pinch of high inflation but still buying some electronics and sporting goods. Best Buy said profits fell and comparable sales dropped 10.4% in its third quarter, but the results weren’t as bad as investors had feared. The company slightly raised its sales target for the fiscal year…

Best Buy on Tuesday surpassed Wall Street's expectations for quarterly earnings, as inflation-dented demand for pricey consumer electronics came in better than feared.The consumer electronics retailer, which had cut its forecast this summer, reiterated its outlook for the holiday quarter. It raised its full-year forecast to reflect the beat, saying it expects comparable sales to decline about 10%.related investing newsJPMorgan says these two retailers are its favorite picks into the holiday seasonShares of the company…

Shoppers are finding more empty space on store shelves, but not because the retailer is out of stock. In many cases, the items are locked away to prevent theft.At a Best Buy Co. store in the suburbs of Houston, hundreds of items including Bose speakers and Fitbit activity trackers have been replaced by small blue signs that read, “This product kept in secured location,” and ask shoppers to find store workers for help. “There used to be a lot more on the floor itself than locked up in cages,”…

Best Buy Co. BBY 3.51% ’s profit and sales dropped in the latest quarter, as spending on computers and other home electronics dried up compared with earlier in the pandemic. Comparable sales, those from stores and digital channels operating for at least 12 months, fell 12.1% in the quarter ending July 30 compared with the same period last year. Sales declined in almost all product categories, with the biggest drops in computing and…

Televisions are seen for sale at a Best Buy store in New York City.Andrew Kelly | ReutersBest Buy on Tuesday said sales dropped by about 13% in the second fiscal quarter, as the retailer felt a pullback from inflation-weary shoppers.The retailer reaffirmed its full-year guidance, saying it expects softer demand for consumer electronics as people pay more for groceries and gas. It expects same-store sales to drop by about 11% for the 12-month period ended in January. The company had cut its full-year and second-quarter…

For retailers, it is a season of discontent.From Walmart Inc. to Nordstrom Inc., retailers have a glut of inventory and are discounting items to clear out space for holiday goods. Many have already lowered profit expectations for the year and are working to cut costs as consumers are pulling back spending in categories such as apparel and home goods ahead of the key year-end shopping season. Best Buy Co. warned investors last month…

Best Buy Co. BBY -0.71% is cutting store jobs across the country, as the electronics and appliance retailer works to lower costs as its customers change their spending habits. The retailer cut hundreds of jobs in stores over the past week, including some workers who do jobs such as helping people purchase or plan home-entertainment layouts, according to people familiar with the situation. “With an ever-changing…