Best Buy exceeded expectations for its fiscal 2025 fourth-quarter earnings and revenue, despite a challenging economic landscape. The company’s CEO, Corie Barry, warned that prices for US consumers will rise due to President Donald Trump’s tariffs on China and Mexico. Best Buy imports products from these countries, with around 55% coming from China and 20% from Mexico.
Barry said the impact of tariffs is “highly likely” and will affect pricing throughout the second and fourth quarters of the fiscal year. The company’s revenue fell 4.8% compared to the same period last year, while comparable sales rose only 0.5%. The decline in home sales in the US has affected Best Buy’s appliances business, with quarterly sales falling 11.4% year over year.
Despite these challenges, Best Buy remains optimistic about its future prospects. Barry said the company will launch a U.S. third-party marketplace feature by mid-year, which is expected to attract strong interest from sellers. The company also reported an increase in mobile phone sales, driven by customer service at its stores.
Best Buy’s full-year revenue guidance for fiscal 2026 is $41.4 billion to $42.2 billion, with comparable sales growth of 0% to 2%. However, the impact of tariffs on consumer behavior and pricing remains uncertain, and investors will be watching closely as the situation develops.
Source: https://www.cnbc.com/2025/03/04/best-buy-bby-q4-2025-earnings.html