Best Buy Slashes FY23 Comp Sales Outlook - Update

RTTNews | 810 days ago
Stocktwits
Best Buy Slashes FY23 Comp Sales Outlook - Update

(RTTNews) - While reporting financial results for the second quarter on Thursday, electronics retailer Best Buy Co., Inc. (BBY) slashed its comparable sales growth guidance for the full-year 2023 and provided comparable sales growth outlook for the third quarter.

For fiscal 2023, the company now projects comparable sales to decline around th3 11 percent range, compared to the prior forecast for a decline of 3 to 6 percent.

The company also projects comparable sales for the third quarter to decline slightly more than the 12.1 percent decline reported for the second quarter.

The company also announced that its board of directors has authorized the payment of a regular quarterly cash dividend of $0.88 per common share, payable on October 11, 2022, to shareholders of record as of the close of business on September 20, 2022.

Tags: BBY
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Samsung Recalls 1.1 Mln Electric Ranges For Fire Risk

Samsung Recalls 1.1 Mln Electric Ranges For Fire Risk

South Korean consumer electronics major Samsung Electronics Co Ltd. is recalling about 1.12 million units of Slide-in Electric Ranges after reports of around 250 fires, some of which caused injuries, extensive property damage and pet deaths, the U.S. Consumer Product Safety Commission said.
RTTNews | 100 days ago
Best Buy Reiterates FY25 Outlook; Declares Dividend - Update

Best Buy Reiterates FY25 Outlook; Declares Dividend - Update

While reporting financial results for the first quarter on Thursday, electronics retailer Best Buy Co., Inc. (BBY) reiterated its adjusted earnings, revenue and comparable sales guidance for the full-year 2025. Comparable sales for the first quarter declined 6.1 percent.
RTTNews | 171 days ago
Best Buy, Macy's Q4 Results Top Estimates; Big Lots Slips To Loss In Q4

Best Buy, Macy's Q4 Results Top Estimates; Big Lots Slips To Loss In Q4

Retailers Best Buy Co., Inc. (BBY) and Macy's, Inc. (M) reported on Thursday profits for the fourth quarter that decreased from last year, but results for the quarter topped analysts' estimates. Meanwhile, Big Lots, Inc. (BIG) slipped to a loss, but the loss came in narrower than expectations.
RTTNews | 626 days ago
Best Buy Guides FY23 Below Estimates; Boosts Dividend 5% - Update

Best Buy Guides FY23 Below Estimates; Boosts Dividend 5% - Update

While reporting financial results for the fourth quarter on Thursday, electronics retailer Best Buy Co., Inc. (BBY) initiated its adjusted earnings, revenue and comparable sales guidance for the full-year 2024. For fiscal 2024, the company now projects adjusted earnings in a range of $5.70 to $6.50 per share on revenues between $43.8 billion and $45.2 billion, with a comparable sales decline of 3.0 to 6.0 percent.
RTTNews | 626 days ago
Best Buy's 48-hour Flash Sale Ends Today

Best Buy's 48-hour Flash Sale Ends Today

Best Buy Co., Inc.'s flash sale ahead of the upcoming holiday season is live now with hundreds of deals on electronic items and games. The company's 48-hour Flash Sale that began on Tuesday, October 11 and ends today claims to be offering hefty savings on various tech products, like TVs, headphones, smartphones and more.
RTTNews | 767 days ago
Canadian Market Settles Lower; TSX Sheds 0.6%

Canadian Market Settles Lower; TSX Sheds 0.6%

The Canadian market ended notably lower on Friday, weighed down by losses in energy, industrials and materials sectors, and on uncertainty about Federal Reserve's interest rate trajectory.
RTTNews | 1 day ago
Dollar Turns In Mixed Performance Against Major Counterparts

Dollar Turns In Mixed Performance Against Major Counterparts

The U.S. dollar turned in a sluggish performance on Friday with investors assessing the Federal Reserve's likely moves with regard to interest rate reductions in the wake of most recent economic data, and Fed Chair Jerome Powell's somewhat hawkish comments.
RTTNews | 1 day ago
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