Best Buy Co. reported a decline in its first-quarter income and revenue, and, similar to many other retailers, cut its full-year outlook.
“We are updating our full year guidance to incorporate the impact of tariffs,” Best Buy CFO Matt Bilunas stated in the earnings release.
Best Buy cuts full-year profit and sales guidance amid volatile tariff landscape | Chain Store Age
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The U.S. Postal Service (USPS) has decided to temporarily suspend a planned reduction in service level standards for First Class package delivery until after the peak holiday season, a week after the Postal Regulatory Commission which oversees it said the plan “lacked demonstrable evidence.” The proposed changes called for adding 1-2 days to the service level standard for about 31.2% of First Class package volume, while shorting it by about a day for approximately 4.8% percent of the volume, according to the PRC. “In light of the ongoing environment caused by COVID-19 and the rise of the Delta variant affecting our customers, the implementation date for the revised service standards for First-Class Package Service will be announced after the holiday shipping season” the USPS said in a statement.
We are delighted to announce that Steve Lister is joining HH Global in the role of Sustainability Director - Global Brands and Retailers. In this newly created role, Steve will report to Kevin Dunckley (Chief Sustainability Officer) and will focus on launching and delivering our Sustainability Consultancy Services to clients. This addition to our growing sustainability and ESG team demonstrates our ongoing commitment to and investment in this core part of our proposition and will further develop our market-leading Innovation with Purpose sustainability program. Steve has been hugely passionate about his focus on sustainability for the last 15 years and brings a wealth of experience in delivering sustainable solutions on diverse projects for brands including Unilever, Heineken, Coca-Cola and Nike.
Adobe announced the latest online inflation data for the month of November 2021. Online prices hit a record highat a 3.5%year-over-year (YoY) increase while prices are down 2% month-over-month (MoM) due to holiday discounts. This is the highest YoY increase since Adobe first began tracking the digital economy in 2014, and it marks the 18th consecutive month of YoY online inflation. Apparel was a standout category with prices up 17.3% YoY and down just 0.4% MoM, reaching a record high of inflation. One dollar out of every four dollars* is now spent online in the U.S., making the digital economy a significant component of the overall economy. The Adobe Digital Price Index (DPI) provides the most comprehensive view into how much consumers are paying for goods online. The DPI covers more than 100 million products in the U.S. and is modeled after the Consumer Price Index issued by the U.S. Bureau of Labor Statistics.