But executives were determined to put investors at ease, emphasizing that they factored the impending tariffs into their fiscal-year forecast, yet raised earnings guidance.
's most popular products including televisions, smart watches, and headphones imported from China were just days away from seeing a 15% tariff as the company stock fell 9% Thursday morning.
Still, when Best Buy looks at the cost of the goods it sells, including labor, materials and overhead, about 60% goes to China currently. Charlie O'Shea, a retail analyst at Moody's, said that because Best Buy raised its forecast, that's an indication that the company is prepared for what's ahead.Another mitigation tactic the company can use is stock up on product before the tariffs actually hit.
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