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Best Buy on Tuesday Published profits and profits in the fourth quarters who led the expectations, but CEO Cora Barry predicted that prices for US consumers would rise when President Donald Trump’s tariffs China and Mexico come into force.
On the Best Buy Profit call, Barry said China and Mexico are the best sources of the proposal chain.
“Trade is crucial for our business and industry. Consumer electronic supply chain is very global, technical and complex,” Barry said. “We expect our suppliers all over our range to take certain tariff costs for retail, which makes rising prices for US consumers.”
Barry comments came when consumers and investors try to understand how new duties will affect household budgets, companies’ sales and US economy. She talked shortly after that CEO Target Brian Cornell told CNBC What he expects consumers will see higher prices for a matter of days from the rates for Mexico.
The bars added that the company directly imports only 2% to 3% of its products, and that Best Buy is considering and adjusting the supply chain search.
“Obviously, a giant wild card here is obviously how consumers will respond to raising prices, in light of the great price growth potentially throughout the year and to the overall confidence in consumers, which shows little signs of weakness at the moment,” said the Best Buy Matt Bilunas.
The company’s shares on Tuesday morning decreased more than 6%.
Here’s how the consumer electronics company did compared to what Wall -Rate for Financial 2025 A quarter ended on February 1, based on LSEG analysts:
- Profit per share: 2.58 dollars, adjusted against $ 2.40, expected
- Income: 13.95 billion against 13.70 billion are expected
Profit in the fourth quarter decreased by 4.8% from $ 14.65 billion over the same period of the year.
Best Buy reported in the fourth quarter A net income of $ 117 million, or 54 cents per share, compared to a net profit of $ 460 million, or $ 2.12 per share during the year. By adjusting the best buy health and other restructuring initiatives, Best Buy reported in the fourth quarter of $ 2.58 per share.
Comparative sales defined by Best Buy as income from sales online and stores opened at least 14 months old, increased by 0.5% per year, except for an additional week in the financial 2024. forecast The change varies from the apartment to 3%. In the United States, quarterly comparable sales have increased by 0.2% a year.
The revenues for 2025 financial 2025 amounted to $ 41.53, which is 4.4% compared to $ 43.45 billion in the financial 2024. The fiscal 2025 Best Buy amounted to a total of $ 735 million in the total amount of 2024 in revenues in the previous year, which estimated the $ 735 million.
For the financial 2026, the company provided a full -fledged guide of $ 41.4 billion to $ 42.2 billion in profit and comparable sales growth by 0% to 2% per year.
“We believe that consumers’ behavior will be largely similar to the past year – remaining stable but still engaged in high inflation that causes their lives, making them value and thoughtful ticket purchases. Billin in the release of the message.
Best Buy said the leadership does not take into account the impact of recent or offered tariffs. President Donald Trump introduced an additional 10% rate In China, starting Tuesday, at the top of 10% tariffs for the country he ordered in January. In addition, 25% of goods from goods from Mexico and Canada also start on Tuesday.
At the call call, the bars said the 10% tariff for China would reduce comparable sales by 1%, but the tariff by 20% will not necessarily lead to a decrease in 2% in comparative sales.
“We have never seen this kind of tariffs, and of course it affects the whole branch. So, it’s not just a Best Buy question, it’s a broad issue of the industry. And I say that because it makes the impact more difficult,” Barry said.
Barry said Best Buy will run its American market in the market by mid -year. The company will notice functions such as execution as a service for sellers and profitability in Best Buy Cortes. The company already has a third -party market in Canada.
“This is too early in this process, and we are satisfied with the strong interest from the sellers and believe that it is a promising launch,” Barry said.
Among Lugging at home selling In the US, Bilunas said Best Buy Business is facing problems with consumers, which mainly replace single units rather than acquiring packages and premium subjects. Quarterly comparable sales of appliances in the United States decreased by 11.4% a year, although they increased by 4.9% in the Best Best Best Best segment.
