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Best Buy ticks lower after posting mixed Q1 results and trimming its full-year outlook

The electronics giant is feeling the heat from tariffs and cooling demand.

Nia Warfield

Best Buy shares fell more than 2% in premarket trading Thursday after the retailer delivered a mixed bag for Q1. Adjusted earnings per share landed at $1.15, beating the $1.09 FactSet estimate, but revenue came in a bit light at $8.77 billion versus the $8.8 billion forecast.

Home theater, appliances, and drones were the biggest drags on comparable sales this quarter. But the declines were partially offset by gains in computing, mobile phones, and tablets.

Looking ahead, Best Buy trimmed its full-year revenue forecast to $41.1 billion to $41.9 billion from $41.4 billion to $42.2 billion, saying the change reflects pressure from ongoing tariffs. EPS guidance now sits at $6.15 to $6.30, slightly ahead of analysts’ expectations.

Prior to the earnings release, Best Buy shares were down about 17% year to date.

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Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

  • Revenue of $11.0 billion (estimate: $10.8 billion).

  • Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

Outgoing CFO Matthew Friend deemed it an “increasingly challenging operating environment, where sell-through remains challenged.”

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