By Yahoo Finance
Publication Date: 2026-03-06 13:31:00
Best Buy (BBY) reported a surprise sales slump in its key holiday shopping season.
Same-store sales declined 0.8% in the fourth quarter, the company said Tuesday. Wall Street had hoped for a 0.2% increase after two straight quarters of positive growth.
“We continue to see customers who are resilient, but they are definitely deal-focused,” Best Buy CEO Corie Barry told Yahoo Finance in a call with reporters.
Best Buy expects first quarter same-store sales to return to growth, rising 1%. Barry said more than 50% of its customers make more than $100,000 per year.
Revenue for the fourth quarter totaled $13.81 billion, less than the $13.88 billion Wall Street had expected, per Bloomberg consensus data. Adjusted earnings per share came in higher at $2.61, more than the $2.46 the Street predicted. Best Buy stock is down more than 30% in the past year, but popped up more than 8% in early trading.
For the full year, revenue came in at $41.69 billion, just below the $41.76 billion Wall…