Best Buy has revised its revenue forecast for Fiscal Year 2026 due to the impact of tariffs on global trade. The company now expects annual comparable sales to be between a 1% decline and an increase of 1%. This is lower than its previous projections of $41.4 billion to $42.2 billion.
For the full year, Best Buy forecasts revenue between $41.1 billion and $41.9 billion. The retailer attributed the reduction to losses in categories like home theater, appliances, and drones, while growth was seen in computing, mobile phone, and tablet sales.
Best Buy’s Chief Financial Officer (CFO), Matt Bilunas, stated that the company will continue to adjust its strategies as the situation evolves. CEO Corie Barry emphasized the importance of focusing on strategic priorities, including improving the omni-channel experience, launching new profit streams, and driving operational efficiency.
The uncertainty surrounding President Donald Trump’s tariffs timeline has led to concerns among companies. However, Bilunas believes that the current levels of tariffs will persist for the remainder of the year, with no significant change in consumer behavior.
Source: https://www.foxbusiness.com/retail/best-buy-lowers-revenue-outlook-fiscal-year-2026-due-tariffs