Sales Decline And Margin Compression To Ail Best Buy's Q1 Earnings: Analyst Highlights Challenges
Portfolio Pulse from Nabaparna Bhattacharya
Telsey Advisory Group analyst Joseph Feldman maintained a Market Perform rating on Best Buy (NYSE:BBY) with a price target of $81. He expects Q1 results to show a sales decline of 10.1% to $9.6 billion and EPS of $1.24, down 20.8% YoY, due to challenging macro trends, high inflation, and rising interest rates.
May 19, 2023 | 6:44 pm
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Best Buy's Q1 earnings are expected to be negatively impacted by sales decline and margin compression due to challenging macro trends, high inflation, and rising interest rates.
The article highlights that Best Buy's Q1 earnings are expected to be negatively impacted by sales decline and margin compression. This is primarily due to challenging macro trends, high inflation, and rising interest rates. The analyst expects a sales decline of 10.1% to $9.6 billion and EPS of $1.24, down 20.8% YoY. These factors are likely to weigh on the stock price in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100