image credit: JJBers / Flickr

Best Buy tops estimates on strong online sales, but shares fall on lack of holiday forecast

November 24, 2020


Best Buy’s third-quarter earnings soared past Wall Street’s expectations, but shares dropped Tuesday as the retailer warned of headwinds from higher shipping costs, inventory challenges and lower-margin holiday sales.

The retailer declined to provide an outlook for the fourth quarter — a significant period for electronics and tech purchases during the holidays — due to the uncertainty created by the coronavirus pandemic.

Read More on CNBC