BBY

The past week revealed new evidence from companies and the government that household spending is increasingly strained. Families are paring back purchases of items such as electronics and furniture as prices for essentials like food and gasoline have become more expensive. Inflation drove consumer spending in June to a new four-decade high while personal incomes fell when adjusting for inflation and taxes. Two of the country’s biggest retailers, Walmart Inc. WMT 1.77%…

Electronics retailer Best Buy Co. BBY 3.44% cut its sales and profit forecast for the year as inflation has tempered demand, becoming the latest retailer that has issued a warning ahead of its quarterly financial report. On Wednesday, Best Buy said that demand for consumer electronics has softened more than expected as higher prices on food, fuel and other goods continue to weigh on shoppers. Shares of Best Buy fell about…

Orders for long-lasting goods such as appliances, computers and cars rose in April, driven by an increase in new aircraft orders. New orders for products meant to last at least three years increased by 0.4% to a seasonally adjusted $265.3 billion in April following a revised 0.6% rise in March, the Commerce Department said Wednesday. April marked the sixth increase in seven months. Nondefense aircraft and parts orders were up 4.3%, rebounding from an 8.1% decline in March.…

Customers shop at a Best Buy store on August 24, 2021 in Chicago, Illinois. Best Buy reported an increase in second-quarter sales of nearly 20% as consumers purchased electronics to adjust to lifestyle changes related to the ongoing pandemic.Scott Olson | Getty ImagesBest Buy reported lower sales in the fiscal first-quarter, and the retailer lowered its outlook for the year, citing softer demand that doesn't appear to be letting up."That trend has continued into the beginning of Q2 and it does not appear that it will…

Best Buy expects higher supply-chain expenses to be worse than previously predicted this fiscal year.. Photo: Joe Raedle/Getty Images…

Inflation is catching up with some of America’s biggest retailers, as their recent quarterly results were pinched by higher costs on everything from products to fuel. Investors dumped shares of Walmart Inc., WMT -6.79% Target Corp. TGT -24.93% and other big chains—notching some of the biggest declines since the market crash of 1987—amid fears that the companies wouldn’t be able to pass along higher prices to consumers. It has also…

Instacart’s long-awaited filing comes as competition increases and consumer habits shift. Photo: Michael Loccisano/Getty Images…