Best Buy Co Inc, the largest US consumer electronics retailer, said same-store sales were expected to fall and higher discounting would erode margins in the second half of the year.
Best Buy's shares fell as much as 7% on Tuesday after the company also reported lower-than-expected revenue for the third straight quarter, hurt by weak sales of consumer electronics and competition from online retailers.
Already a subscriber? Log in
The Star Festive Promo: Get 35% OFF Digital Access
Cancel anytime. Ad-free. Unlimited access with perks.
