SPX4,140.06-5.13 -0.12%
DIA328.42+0.45 0.14%
IXIC12,644.46-13.10 -0.10%

Best Buy Sees Q3 2023 Comp Sales -13%

The company expects Q2 FY23 comparable sales1 to decline approximately 13%, with revenue approximately 7.5% higher than pre-pandemic Q2 FY20. This compares

Benzinga · 07/27/2022 16:19

The company expects Q2 FY23 comparable sales1 to decline approximately 13%, with revenue approximately 7.5% higher than pre-pandemic Q2 FY20. This compares to 19.6% comparable sales growth in Q2 FY22. The company expects its Q2 non-GAAP operating income rate2 to be in a range around 3.7%. Additionally, the company expects its Q2 ending inventory balance to be approximately flat to the same period last year.