Best Buy Earnings Disappoint Ahead of Holiday Season, Lowers Guidance
Best Buy shares are plunging in pre-market trading after the giant retailer reported lower-than-expected earnings and slashed its guidance for the full year.
Best Buy shares are plunging in pre-market trading after the giant retailer reported lower-than-expected earnings and slashed its guidance for the full year.
Best Buy reported fiscal second-quarter earnings grew 61% despite a decline in consumer traffic. But shoppers bought more per purchase. The results took many by surprise, especially with the company also boosting guidance, ar traffic. But shoppers bound shares shot up 8% in premarket trading.
