:Top U.S. electronics retailer Best Buy Co Inc on Thursday joined peers with a cautious annual earnings forecast as uncertainty over the U.S. economy tempers expectations for a recovery in demand for discretionary products.The company's shares slipped 1.6 per cent, despite a beat on holiday quarter revenue an
:Top U.S. electronics retailer Best Buy Co Inc on Thursday joined peers with a cautious annual earnings forecast as uncertainty over the U.S. economy tempers expectations for a recovery in demand for discretionary products.
"As we enter FY24, the consumer electronics industry continues to feel the effects of the broader macro environment and its impact on consumers," Best Buy's Chief Financial Officer Matt Bilunas said in a statement. It forecast full-year comparable sales to fall 3 per cent to 6 per cent, compared to analysts' estimates of a 1.9 per cent decline.
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