Best Buy’s earnings, due Tuesday morning, will show whether consumers are still hesitant to splurge on a new flatscreen TV— or if demand for consumer electronics may be poised for a comeback.
Sales at electronics and appliance stores were 3.1% lower in July than a year ago, according to the Census Bureau’s latest report on retail sales. Electronic sales were also lower than in June, the report found. Back-to-school season may also be driving more people to look for electronics. While foot traffic to Best Buy was down 10.7% from a year earlier in the last week of May, according to Placer.ai, it was off just 2.4% in the first week of July.
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Jobs report, inflation data, Best Buy earnings, US Open top week aheadIt's a big week for jobs and housing data as well as more retail earnings as investors wind down the final days of August leading into the Labor Day holiday weekend.
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Jobs and Inflation Data, Salesforce and Best Buy Earnings, and More to Watch This WeekEarnings reports from Best Buy, HP, Salesforce, Broadcom, Dollar General, and more. Plus, August jobs data, July core PCE inflation, and the July JOLTS report.
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EV maker BYD buys US firm Jabil's China manufacturing business for $2.2 billion By ReutersEV maker BYD buys US firm Jabil's China manufacturing business for $2.2 billion
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