:Best Buy Co Inc on Thursday joined peers with a cautious annual earnings forecast as uncertainty over the U.S. economic outlook tempers expectations for a recovery in demand for TVs, laptops and other electronic products.The company's shares fell 2.7 per cent despite a beat on holiday quarter revenue and pro
:Best Buy Co Inc on Thursday joined peers with a cautious annual earnings forecast as uncertainty over the U.S. economic outlook tempers expectations for a recovery in demand for TVs, laptops and other electronic products.
Best Buy and other retailers have offered bigger discounts than usual during the holiday season to stoke demand as surging costs of rent and food over the last year hammered spending on non-essentials. "As we enter fiscal 2024, macroeconomic headwinds will likely result in continued volatility, and we are preparing for another down year for the industry," Chief Executive Officer Corie Barry said on an analyst call.
Walmart, Target Corp and other retailers have also issued conservative forecasts as still high U.S. consumer prices have raised fears that the Federal Reserve could further lift borrowing costs to cool demand.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Best Buy forecasts annual profit below estimates:Top U.S. electronics retailer Best Buy Co Inc on Thursday joined peers with a cautious forecast for annual earnings as uncertainty over the U.S. economic outlook tempers expectations for a recovery in discretionary products demand.The company's shares fell 1.9 per cent to $80.99 in premarket trading.H
Read more »
Best Buy forecasts profit below estimates as electronics demand weakens: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
Read more »
What we think of The OnePlus 11 smartphone, and where to buy in SingaporeThe stunning display is another highlight of the OnePlus 11, featuring a 6.7-inch AMOLED screen with a resolution of 2400 x 1080 pixels.
Read more »
Which Travel Credit Card Gives You the Most Travel Perks? - Singapore NewsHere are the best travel credit cards in Singapore for your next holiday.
Read more »
Best travel deals (March 2023): Flights, hotels and moreYou've probably heard by now that Cathay Pacific is giving away 12,500 free round-trip tickets to Hong Kong. Just imagine the amount of dim sum you could buy with the money you'll save! But what if Hong Kong just isn't your jam? I mean, some of us travel to feast on local cuisine, but others might fly the skies for...
Read more »
Best Things To Do In Singapore This Weekend (Mar 3-5)From Van Gogh art experiences to sneaker collections, everything’s larger than life this weekend.
Read more »