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Best Buy forecasts holiday-quarter comparable sales below estimates

Amnon Free Press/Central Press Syndicate, USA. Read, Enjoy and Share the Latest US News Updates.

November 23, 2021

(Reuters) – Best Buy Co Inc forecast fourth-quarter comparable sales below estimates on Tuesday, as the electronics retailer braces for a hit from likely product shortages during the crucial holiday shopping season.

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Best Buy forecast fourth-quarter comparable sales between a fall of 2% to a rise of 1%, the mid point of which is below analysts’ estimates a 0.1% rise, according to IBES data from Refinitiv.

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(Reporting by Uday Sampath in Bengaluru; Editing by Sriraj Kalluvila and Shounak Dasgupta)

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