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Best Buy forecasts bigger sales drop as inflation dents demand

Best Buy forecasts bigger sales drop as inflation dents demand

Reuters · 07/27/2022 16:20
Best Buy forecasts bigger sales drop as inflation dents demand

- Best Buy BBY forecast a bigger drop in annual comparable sales on Wednesday, pinched by weakening demand for electronics as decades-high inflation saps Americans' spending power.

The company said it expects full-year comparable sales to fall in a range around 11%, compared to its previous outlook of a 3% to 6% decline.


(Reporting by Deborah Sophia in Bengaluru)

((DeborahMary.Sophia@thomsonreuters.com;))