1136 ET - Best Buy shares slumped after the company missed Wall Street's comparable sales estimates. Investors were probably expecting the electronics retailer to top the comps forecast, since point-of-sale data for the quarter looked strong and there were indications that demand for electronics would be pulled forward by the threat of tariffs, Davidson analysts Michael Baker and Keegan Cox say in a research note. Because the market was looking for a beat, the very slight miss is magnified and may stir up questions about whether the company is losing share, the analysts say. Shares fall 9.4% to $64.80. (dean.seal@wsj.com)
(END) Dow Jones Newswires
May 29, 2025 11:36 ET (15:36 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.