BEST Buy yesterday reported a smaller-than-expected rise in quarterly same-store sales, as the biggest US consumer electronics retailer sold fewer video game consoles and other entertainment products.
Best Buy's overall same-store sales rose 1.6 per cent in the second quarter ended 3 August.
Analysts on average had expected a 2.15 per cent increase, according to IBES data from Refinitiv.
Revenue rose to $9.54bn (£7.8bn) from $9.38bn, a touch below expectations of $9.56bn.
The company also narrowed its full year sales forecast to a range of $43.1bn to $43.6bn, from a $42.9bn to $43.9bn range, citing planned further increases in US tariffs on Chinese goods.
Internationally, same-store sales fell 1.9 per cent, while revenue dropped 3.4 per cent to $715m.
The company said the decline was driven primarily by sales in Canada.
Best Buy said it repurchased $230m in stock during the quarter.
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