Best Buy (NYSE:BBY) on Tuesday posted fourth-quarter earnings and revenue that topped expectations, but CEO Corie Barry projected that prices for U.S. consumers would rise as President Donald Trump’s tariffs on China and Mexico go into effect.
On Best Buy’s earnings call, Barry said China and Mexico are the company’s top two supply-chain sources.
“Trade is critically important to our business and industry, the consumer electronic supply chain is highly global, technical and complex,” Barry said. “We expect our vendors across our entire assortment will pass along some level of tariff costs to retailers, making price increases for American consumers highly likely.”
Earnings per share came in at $2.58 adjusted vs. $2.40 expected, on revenue of $13.95 billion vs. $13.70 billion expected
Fourth-quarter revenue fell 4.8% from $14.65 billion during the same period a year ago.
Best Buy reported fourth-quarter net income of $117 million, or 54 cents per share, compared with a net income of $460 million, or $2.12 per share, during the year-ago period.
For fiscal 2026, the company issued full-year guidance of $41.4 billion to $42.2 billion in revenue and comparable sales growth of 0% to 2% year over year.
Best Buy said the guidance does not account for the impact of recent or proposed tariffs. CEO Corie Barry has said that 60% of its cost of goods comes from China and that Mexico is its second-largest importer.
BBY shares started out Tuesday off $11.77, or 13.6%, to $74.78.
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