Best Buy’s earnings exceed expectations as demand softens
November 22, 2022
Best Buy reported adjusted earnings per share of $1.38, well ahead of the $1.03 expected by analysts. The consumer electronics giant saw demand for high ticket items in computing and home theater decline as consumers focused their purchasing on essentials. “Across consumers we can also see that savings are being drawn down and credit usage is going up,” said CEO Corie Barry. “And value clearly matters to everyone.”
Recent News
Peloton CEO Steps Down and Layoffs Begin
Peloton, the popular fitness technology company, has announced significant changes in its leadership and organizational structure.
California Restaurants Must Start Eliminating Special Surcharges
Starting July 1, California is changing the game for restaurant bills.
T-Mobile Now Owns Ryan Reynolds-Backed Mint Mobile
The deal is worth upwards of $1.35 billion.
Chipotle Is Giving Away Over $1 Million in Burritos to Healthcare Workers
In acknowledgment of the tireless contributions of healthcare workers, Chipotle Mexican Grill has announced a notable gesture of appreciation: the distribution of 100,000 free burrito e-cards.