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NEW YORK: Best Buy Co<\/a>. posted first-quarter results that showed shoppers pulled back on spending, while higher costs ate into profits.

The nation's largest
consumer electronics chain<\/a> also cut its annual outlook, noting a deteriorating macro economic environment.

Best Buy<\/a> was among a handful of big winners in the pandemic, as shoppers splurged on tech equipment like laptops to create home offices to help them with remote work or cater to the needs of their children for virtual learning. But like many retailers, Best Buy is struggling with rising costs for everything from labor to shipping. The electronics chain also had to navigate global chip shortages. Another round of COVID-19 lockdowns in China is only worsening the problem. And soaring fuel costs and the return of promotions are hurting the bottom line.

Meanwhile, Best Buy, like other retailers, is also adjusting to changing shopping behavior. Demand for electronics is cooling as consumers go back to the office and resume normal lives.
Inflation<\/a> is also making shoppers scrutinize their purchases. In particular, CEO Corie Barry told reporters on a call Tuesday that purchases by lower-income shoppers, who were new Best Buy customers during the pandemic, have recently fallen off.

Best Buy follows other major retailers like
Walmart<\/a> and Target<\/a> in reporting that inflation has taken a bite out of earnings. The other big discounters also reported shifts in spending. Target said that it didn't anticipate a lightening quick return by consumers to more normalized spending. Purchases of big TVs and appliances that Americans loaded up on during the pandemic have faded, leaving Target with a bloated inventory that must be marked down to sell.

Barry said she expected this year's results to be weaker than last year as it lapped stimulus payments and other government support and planned for higher costs in its supply chain. But she noted macro economic conditions worsened since it provided its financial outlook in early March, which resulted in its sales being slightly lower than its expectations.

\"Sustained high levels of inflation is having an impact broadly again on the consumer, who we feel is pulling back at a faster, deeper pace than we initially assumed,\" Barry said.

Barry said Best Buy has a healthy inventory of products, though she noted there are still some isolated areas where there is a shortfall.

Neil Saunders, managing director at GlobalData Retail, said given the multitude of challenges, Best Buy fared reasonably well. It noted that while Best Buy has suffered from out-of-stocks because of supply issues, it still has better availability than others because of its size and its strong relationship with vendors. That has helped it retain customers and spending, he noted.

Still, Saunders said he's worried about the consumer psyche.

\"Electronics are highly discretionary, big-ticket items,\" he said. \"This puts them directly in the firing line of households looking to trim expenditure.\" He also noted that the general demand for electronics is also taking a hit from society returning to normality.

\"People are home less, many have returned to the office and classroom, and leisure activities such as attending sports events and movies has risen,\" he added.

Best Buy, based in Richfield, Minnesota, reported fiscal first-quarter net income of $341 million, or $1.49 per share. Earnings, adjusted for amortization costs and restructuring costs, came to $1.57 per share.

The results fell short of Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $1.59 per share.

But consumer electronics retailer posted revenue of $10.65 billion in the period, down 8.5% from the year-ago period. But revenue still topped topped analysts' forecasts. Nine analysts surveyed by Zacks expected $10.43 billion.

The company saw comparable sales decline across almost all categories, with the largest drivers being computing and home theater. The metric, a key measure of a retailer's health, measures sales in stores open at least a year.

Domestic online revenue was down 4.9% on a comparable basis, and as a percentage of total domestic revenue, online revenue was 30.9% versus 33.2% last year.

Best Buy expects full-year earnings in the range of $8.40 to $9 per share, with revenue in the range of $48.3 billion to $49.9 billion. Previously, it expected per-share results of $8.85 to $9.15 and revenue of $49.3 billion to $50.8 billion

Analysts expected $8.88 per share on $50.17 billion for the year.

Best Buy shares have declined 29% since the beginning of the year, while the S&P's 500 index has fallen 17%. The stock has decreased 37% in the last 12 months.

Shares rose about 1.4% to $73.62 in morning trading.



<\/body>","next_sibling":[{"msid":91777780,"title":"Big Tech haemorrhages as six 'killer' bills loom large","entity_type":"ARTICLE","link":"\/news\/big-tech-haemorrhages-as-six-killer-bills-loom-large\/91777780","category_name":null,"category_name_seo":"telecomnews"}],"related_content":[],"msid":91777933,"entity_type":"ARTICLE","title":"Best Buy's Q1 results show bite of inflation, chip shortage","synopsis":"The nation's largest consumer electronics chain also cut its annual outlook, noting a deteriorating macro economic environment.","titleseo":"telecomnews\/best-buys-q1-results-show-bite-of-inflation-chip-shortage","status":"ACTIVE","authors":[],"Alttitle":{"minfo":""},"artag":"AP","artdate":"2022-05-25 07:59:14","lastupd":"2022-05-25 08:03:15","breadcrumbTags":["best buy","devices","chip shortage","inflation","consumer electronics chain","best buy co","global chip shortage","walmart","target","best buy q1 results"],"secinfo":{"seolocation":"telecomnews\/best-buys-q1-results-show-bite-of-inflation-chip-shortage"}}" data-authors="[" "]" data-category-name="" data-category_id="" data-date="2022-05-25" data-index="article_1">

百思买的Q1结果显示咬的通货膨胀,芯片短缺

全国最大的消费电子产品连锁店也下调了年度预期,宏观经济环境不断恶化。

  • 更新2022年5月25日上午08:03坚持

纽约:百思买公司。发布第一季度业绩显示,消费者开支,同时成本上涨侵蚀了利润。

全国最大的消费电子产品连锁店还下调了年度预期,宏观经济环境不断恶化。

百思买是为数不多的大赢家之一的大流行,作为购物者挥霍笔记本电脑等科技设备创建与远程工作或家庭办公室,帮助他们迎合孩子虚拟学习的需要。但就像许多零售商,百思买在从劳动到运输成本上升。全球电子产品连锁店也导航芯片短缺。另一轮COVID-19封锁在中国只是恶化这一问题。不断飙升的燃油成本和促销的回归伤害底线。

广告
与此同时,百思买,像其他零售商,也是适应变化的购物行为。对电子产品的需求冷却作为消费者回到办公室,恢复正常的生活。通货膨胀也让顾客检查他们的购买。特别是,CEO Corie巴里打电话星期二对记者说,购买低收入购物者,新百思买客户在大流行期间,最近掉了。

百思买等主要零售商沃尔玛目标报道称,通胀已经咬了收益。其它大型折扣店也报道了支出的变化。目标表示,它没有预料到的闪电快速返回消费者消费更加规范化。购买大电视和家电流感大流行期间,美国人大量消失,让目标膨胀的库存必须出售。

巴里表示,她预计今年的结果要比去年弱研磨刺激支出和其他政府支持和计划在其供应链成本上升。但她指出宏观经济状况的恶化,因为它提供其财务前景3月初,导致其销量略低于其预期。

“持续高水平的通货膨胀产生影响广泛的消费者,我们觉得是谁拉回到更快,更深层次的速度比我们最初以为,”巴里说。

巴里说,百思买健康的库存产品,但是她指出仍有一些孤立的地区有一个缺口。

广告
董事总经理尼尔·桑德斯GlobalData零售表示,考虑到众多的挑战,百思买的表现相当不错。它指出,虽然百思买已经脱销,因为供应问题,它仍然有比别人更好的可用性,因为它的大小和其强大的与供应商的关系。帮助维持客户和支出,他指出。

不过,桑德斯说,他担心的消费心理。

“电子高度可自由支配,大件商品”,他说。“这让他们直接在最前线的家庭削减支出。”He also noted that the general demand for electronics is also taking a hit from society returning to normality.

“家里的人少了,很多人回到办公室,教室,和休闲活动,如参加体育活动和电影已经上升,”他补充说。

百思买、总部设在明尼苏达州田生公布第一季度净利润为3.41亿美元,或每股亏损1.49美元。收入,调整的摊销成本和重组成本,每股1.57美元。

结果低于华尔街预期。扎克的调查11位分析师平均预计的投资研究是每股收益1.59美元。

但消费电子产品零售商公布营收为106.5亿美元,较上年同期下降了8.5%。但收入仍然超过超过分析师预期。9由扎克调查分析师预期的104.3亿美元。

公司看到可比销售额下降在几乎所有类别,最大的司机被计算和家庭影院。度规,零售商的健康的关键措施,在商店开业至少一年的销售措施。

国内在线收入在可比的基础上下降了4.9%,和国内总收入的比例,在线收入去年是30.9%和33.2%。

百思买预计全年收益的8.40美元每股9美元,收入在483亿美元到499亿美元的范围。结果以前,预计每股8.85 - 9.15美元,营收为493亿美元,至508亿美元

分析师预期的8.88美元每股501.7亿美元。

百思买股价自今年年初以来下跌29%,而标准普尔500指数已下跌17%。股票在过去12个月里下降了37%。

股价在早盘交易中上涨约1.4%,至73.62美元。



  • 发布于2022年5月25日上午07:59坚持
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\"\"
<\/span><\/figcaption><\/figure>
NEW YORK: Best Buy Co<\/a>. posted first-quarter results that showed shoppers pulled back on spending, while higher costs ate into profits.

The nation's largest
consumer electronics chain<\/a> also cut its annual outlook, noting a deteriorating macro economic environment.

Best Buy<\/a> was among a handful of big winners in the pandemic, as shoppers splurged on tech equipment like laptops to create home offices to help them with remote work or cater to the needs of their children for virtual learning. But like many retailers, Best Buy is struggling with rising costs for everything from labor to shipping. The electronics chain also had to navigate global chip shortages. Another round of COVID-19 lockdowns in China is only worsening the problem. And soaring fuel costs and the return of promotions are hurting the bottom line.

Meanwhile, Best Buy, like other retailers, is also adjusting to changing shopping behavior. Demand for electronics is cooling as consumers go back to the office and resume normal lives.
Inflation<\/a> is also making shoppers scrutinize their purchases. In particular, CEO Corie Barry told reporters on a call Tuesday that purchases by lower-income shoppers, who were new Best Buy customers during the pandemic, have recently fallen off.

Best Buy follows other major retailers like
Walmart<\/a> and Target<\/a> in reporting that inflation has taken a bite out of earnings. The other big discounters also reported shifts in spending. Target said that it didn't anticipate a lightening quick return by consumers to more normalized spending. Purchases of big TVs and appliances that Americans loaded up on during the pandemic have faded, leaving Target with a bloated inventory that must be marked down to sell.

Barry said she expected this year's results to be weaker than last year as it lapped stimulus payments and other government support and planned for higher costs in its supply chain. But she noted macro economic conditions worsened since it provided its financial outlook in early March, which resulted in its sales being slightly lower than its expectations.

\"Sustained high levels of inflation is having an impact broadly again on the consumer, who we feel is pulling back at a faster, deeper pace than we initially assumed,\" Barry said.

Barry said Best Buy has a healthy inventory of products, though she noted there are still some isolated areas where there is a shortfall.

Neil Saunders, managing director at GlobalData Retail, said given the multitude of challenges, Best Buy fared reasonably well. It noted that while Best Buy has suffered from out-of-stocks because of supply issues, it still has better availability than others because of its size and its strong relationship with vendors. That has helped it retain customers and spending, he noted.

Still, Saunders said he's worried about the consumer psyche.

\"Electronics are highly discretionary, big-ticket items,\" he said. \"This puts them directly in the firing line of households looking to trim expenditure.\" He also noted that the general demand for electronics is also taking a hit from society returning to normality.

\"People are home less, many have returned to the office and classroom, and leisure activities such as attending sports events and movies has risen,\" he added.

Best Buy, based in Richfield, Minnesota, reported fiscal first-quarter net income of $341 million, or $1.49 per share. Earnings, adjusted for amortization costs and restructuring costs, came to $1.57 per share.

The results fell short of Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $1.59 per share.

But consumer electronics retailer posted revenue of $10.65 billion in the period, down 8.5% from the year-ago period. But revenue still topped topped analysts' forecasts. Nine analysts surveyed by Zacks expected $10.43 billion.

The company saw comparable sales decline across almost all categories, with the largest drivers being computing and home theater. The metric, a key measure of a retailer's health, measures sales in stores open at least a year.

Domestic online revenue was down 4.9% on a comparable basis, and as a percentage of total domestic revenue, online revenue was 30.9% versus 33.2% last year.

Best Buy expects full-year earnings in the range of $8.40 to $9 per share, with revenue in the range of $48.3 billion to $49.9 billion. Previously, it expected per-share results of $8.85 to $9.15 and revenue of $49.3 billion to $50.8 billion

Analysts expected $8.88 per share on $50.17 billion for the year.

Best Buy shares have declined 29% since the beginning of the year, while the S&P's 500 index has fallen 17%. The stock has decreased 37% in the last 12 months.

Shares rose about 1.4% to $73.62 in morning trading.



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