Big-box retailer Best Buy posted weak earnings and sales in the fourth quarter of 2024 as competition in the retail industry intensifies and customers shop around for deals.
On the morning of Nov. 26, the company reported third-quarter financial results for fiscal year 2024 that missed the mark across the board: Comparable store sales dropped by 2.9 percent, versus expectations of a 0.92 percent decline, while earnings came at $1.26 per share, below the analysts’ expectations of $1.29.