Best Buy Reports Mixed Results with Holiday Sales Below Expectations
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 03 2026
0mins
Should l Buy BBY?
Source: Newsfilter
Best Buy's stock fell 5.01% as it crossed below the 5-day SMA, reflecting investor concerns following its latest earnings report.
The company's holiday quarter sales of $13.81 billion missed Wall Street's expectations, although adjusted earnings per share of $2.61 exceeded forecasts. Best Buy's fiscal 2024 revenue outlook is slightly lower than the previous year, indicating ongoing weak consumer demand for electronics. Additionally, comparable sales dropped 0.8%, primarily due to weaker sales of appliances and home theaters, despite some growth in computing and mobile phone sales.
These mixed results suggest that while Best Buy has improved profitability, challenges remain in the retail environment, particularly with consumer spending. Investors may need to reassess their expectations as the company navigates a competitive landscape.
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Analyst Views on BBY
Wall Street analysts forecast BBY stock price to rise
12 Analyst Rating
4 Buy
7 Hold
1 Sell
Hold
Current: 64.670
Low
60.00
Averages
79.75
High
96.00
Current: 64.670
Low
60.00
Averages
79.75
High
96.00
About BBY
Best Buy Co., Inc. is engaged in personalizing and humanizing technology solutions. The Company has two segments: Domestic and International. The Domestic segment comprises its operations in all states, districts and territories of the United States and its Best Buy Health business and includes the brand names Best Buy, Best Buy Ads, Best Buy Business, Best Buy Essentials, Best Buy Health, Geek Squad, Imagine That, Insignia, Lively, My Best Buy, My Best Buy Memberships, Pacific Kitchen and Home, TechLiquidators and Yardbird; and the domain names bestbuy.com, lively.com, techliquidators.com and yardbird.com. The International segment comprises all its operations in Canada under the brand names Best Buy, Best Buy Express, Best Buy Mobile, Geek Squad and TechLiquidators and the domain names bestbuy.ca and techliquidators.ca. The Company’s product categories include computing and mobile phones, consumer electronics, appliances, entertainment, services and others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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