Best Buy expects tech demand to hit a low this year
Best Buy warns of declining tech sales and cuts its revenue forecast, reflecting consumer caution around discretionary spending and retail purchases.
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Posted 8/29/2023, 1:56:00 PM
cnn.com
Relevant topic timeline:
Best Buy surpasses earnings and revenue estimates for the second quarter and anticipates an improvement in consumer electronics demand in the following year.
Best Buy surpassed sales expectations for Q2 but expects a lull in tech demand for the rest of the year due to post-pandemic spending patterns and inflation, while anticipating stabilization and growth in the consumer electronics industry next year.