Best Buy earnings report is out, on Tuesday, with better than expected profits, but the quality of the earnings report is in focus. The electronics retailer saw US same-store sales tanked 12.7%, missing analyst estimates.
Sales retreated in all product categories. And Q3 guidance hints had a slow start to the back to school shopping season.
The market looks to be ready for celebrating volatility and uneven results. But, with a careful look into the company’s earnings report, there is a clear decline in all product categories, large declines. Minus-16.6% decline in the computing and mobile phone category.