Best Buy cuts full-year sales forecast
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(ABC 6 News) — Best Buy cut its full-year sales forecast and missed Wall Street’s quarterly revenue expectations.
In an earnings call on Tuesday the Richfield-based retailer said they saw softer than expected sales particularly in September and October.
The company expects sales to stay flat or decline by up to 3% in its fourth quarter.
Best Buy’s stock shares closed nearly 5% lower on Tuesday after investors learned the update.