Best Buy announced it saw softer than expected sales in September and October and lowered its expectations for the holiday quarter.
It now anticipates flat to 3 percent lower sales for the November, December, January period, continuing a two year slump in sales that followed a boom during the COVID pandemic.
CEO Corie Barry said of the softer fiscal Q3 2025 quarter ended November 2, “We attribute this to a combination of overall ongoing macro uncertainty, customers waiting for deals and sales, and distraction during the run-up to the election, particularly in nonessential categories.”
The company now expects full year comparable sales to decline by 2.5 to 3.5 percent, compared to its earlier expectations of a 1.5 to 3 percent drop.
Best Buy is forecasting total full year sales in the $41.1 to $41.5 billion range compared to earlier forecasts of $41.3 to $41.9 billion.
For its fiscal Q3, Best Buy’s net sales fell to $9.45 billion compared to $9.76 billion a year ago.
Domestic online revenue was $2.73 billion or 31.4 percent of domestic revenue versus 30.6 percent last year.
See more at Best Buy here.
People are trying to save some money before getting walloped with tariffs next year.. makes sense to me, most wallets I know are closed tight ‘just incase’.