For US Retailers, ‘Better-Than-Feared’ Is The New ‘Good’

For US Retailers, ‘Better-Than-Feared’ Is The New ‘Good’

"Better-than-feared" was about all analysts were able to muster on Tuesday, when Best Buy cut guidance and described efforts to "proactively navigate" what CFO Matt Bilunas called a "rapidly changing environment." The company now sees revenue of between $48.3 billion and $49.9 billion for the current fiscal year, and adjusted EPS of between $8.40 and $9.00. Previously, Best Buy saw $49.3 billion to $50.8 billion in sales and $8.85 to $9.15 in EPS. Comps will be -3% to -6%, compared to the prior
Subscribe or log in to read the rest of this content.

2 thoughts on “For US Retailers, ‘Better-Than-Feared’ Is The New ‘Good’

  1. Retail results would suggest that the FOMC is not going to be able to raise rates/reduce the balance sheet as quickly as they are saying. Of course, they could be talking nasty to reduce the need to actually raise rates more later on. If I was on the FOMC, I would advocate raising rates a bit, but more slowly. They have made their point. The markets and consumers are reacting. Now is the time to take stock and slowly adjust rates if necessary to slow down inflation. Stiglitz put it best- much of the problem emanates out of the supply side. Nothing the Fed can do about that. Inflation is a worldwide problem- and countries with less fiscal and monetary stimulus are seeing inflation numbers not that different from the USA.

  2. Considering BBY’s -10% comp in computers, cellphones and CE, how to calibrate “better-than-feared” for the most successful retail product in the world that is 13% of QQQ and 6-7% of SPY. I think that is the $640BN question.

Leave a Reply to jyl Cancel reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

NEWSROOM crewneck & prints