The consumer electronics retailer has missed Wall Street’s quarterly revenue expectations, leading to a downward revision in its full-year sales forecast. The company now expects its revenue to range from $41.1 billion to $41.5 billion and anticipates a decline in full-year comparable sales of between 2.5% and 3.5%. CEO Corie Barry attributes the softer-than-expected demand to macroeconomic uncertainty and election-related distractions.
The retailer has fallen short of Wall Street's quarterly revenue expectations, and it has revised its full-year sales forecast . Notably, even with the release of a new batch of iPhones and AI-enabled laptops, the company has not seen a significant boost in sales. The consumer electronics retailer now anticipates its full-year revenue to range from $41.1 billion to $41.5 billion, compared to its previous forecast of $41.3 billion to $41.9 billion.
The company also expects full-year comparable sales to decline by between 2.5% and 3.5%, compared to its earlier forecast of a 1.5% to 3% drop. CEO Corie Barry attributed the softer-than-expected demand to ongoing macroeconomic uncertainty, customers waiting for deals and sales events, and distraction during the election period, especially in non-essential categories. However, she noted that consumer demand has picked up in the first weeks of the current quarter as holiday sales gain momentum and election concerns ease
Retailer Quarterly Revenue Wall Street Expectations Sales Forecast Iphones AI Laptops Consumer Electronics CEO Corie Barry Sales Events Election Distraction Holiday Sales Momentum
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