Wall Street

Sales Of Best Buy Drop But Company Topped Wall Street’s Expectations

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ValueWalk

Same-store sales of Best Buy Co Inc (NYSE:BBY) dropped 8% during the first quarter ended April 30, amid lukewarm demand due to high prices. The company lowered its revenue outlook for the year after accruing $10.65 billion against an expectation of $10.41 billion. Riding The StormCorie Barry, Best Buy’s CEO, said on a call with analysts Tuesday about the softer demand: “That trend has continued into the beginning of Q2 and it does not appear that it will abate in the near-term.” Q1 2022 hedge fund letters, conferences and more The adjusted outlook for the year does not mean the company is prep…

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