Best Buy Co (BBY) Stock

MINNEAPOLIS--(BUSINESS WIRE)--Best Buy Co., Inc. (NYSE:BBY) has announced that its Board of Directors has approved a regular quarterly cash dividend of $0.94 for each common share. This dividend will be paid on January 7, 2025, to shareholders who are on record as of the end of business on December 17, 2024. As of November 2, 2024, the company had 213,764,409 shares of common stock available.

Best Buy's third-quarter results fell short of revenue and earnings expectations, showing a comparable sales drop of 2.9% and weak guidance for the fourth quarter, which caused a 7% drop in stock price on Tuesday morning. The tough economic conditions, distractions from the elections, and competition from Walmart and Amazon are major challenges for Best Buy. I am pessimistic about BBY's future, anticipating ongoing sales declines, possible dividend reductions, and store closures due to low consumer demand and economic pressures.

BBY has announced weak results for the third quarter of fiscal 2025. Their comparable sales decreased by 2.9% compared to the same period last year.

Best Buy reported that cautious shoppers and the upcoming presidential election affected their quarterly sales. On November 26, the electronics retailer announced a 2.9% decrease in comparable sales, which was worse than the 1% decline they had predicted.

Best Buy (BBY) has struggled recently, becoming one of the lowest performers on the S&P 500 after releasing a mixed earnings report. Seth Basham describes the report as "not very surprising," but he also sees some positive signs for the company's future in 2025.

Best Buy (BBY) shares fell by 8% on Tuesday morning after the electronics store did not meet profit and sales expectations and lowered its forecasts. This decline comes as shoppers are reducing their spending just before the important holiday shopping period.

Best Buy Co Inc (NYSE:BBY) saw its shares fall by 2% in pre-market trading after the electronics retailer lowered its sales expectations due to weaker performance in the third quarter. The company now predicts a decline in full-year comparable sales of 2.5% to 3.5%, which is worse than its earlier estimate of a 1.5% to 3.0% drop.

Best Buy (BBY) reported quarterly earnings of $1.26 per share, which is lower than the Zacks Consensus Estimate of $1.30 per share. This is also a decrease from the earnings of $1.29 per share from the same period last year.

The retailer's profits and sales did not meet the expected figures.