posted discouraging quarters and forecast a slowdown in their respective businesses. In both cases, management blamed expanding inflation and injured supply chains for affecting their bottom lines, and both companies said inflation was causing consumers to reduce spending.
Both revenue and same store sales at Best Buy dropped 8.5% YoY, but the market has mostly ignored this since analysts were expecting worse figures andhad already sunk below $70 last week in the wake of the retail sector's major rout caused by Walmart and Target. There always is a benefit to reporting late.. However, this failed to move the stock as a negative outlook is now baked into nearly every retail stock.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Fuente: hackernoon - 🏆 532. / 51 Leer más »