The consumer-electronics industry is feeling the effects of the broader macro environment, according to Best Buy.
Best Buy Co. joined the list of retailers delivering a cautious outlook when the company reported its fourth-quarter results before market open Thursday.
“As... Best Buy Co. joined the list of retailers delivering a cautious outlook when the company reported its fourth-quarter results before market open Thursday. “As we enter [fiscal year 2024], the consumer electronics industry continues to feel the effects of the broader macro environment and its impact on consumers,” Best Buy CFO Matt Bilunas said in a statement Thursday.
Domestically, Best Buy’s consumer-electronics same-store sales fell 11.8%. Consumer-electronics same-store sales fell 10.1% in the company’s international segment.
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