Best Buy cuts full-year sales and profit guidance as tariffs raise cost of electronics
1. Best Buy missed quarterly revenue expectations and cut guidance. 2. Expected revenue for fiscal 2026 is now $41.1-$41.9 billion. 3. Adjusted earnings per share guidance lowered to $6.15-$6.30. 4. Net income for Q1 declined 18% to $202 million. 5. Shares down 17% year-to-date, trailing S&P 500 performance.