Best Buy's Quarterly Sales Drop, as Inflation-Weary Consumers Pull Back on Spending

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Best Buy's Quarterly Sales Drop, as Inflation-Weary Consumers Pull Back on Spending
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Best Buy also reaffirmed its guidance for the fiscal year, saying it expects softer demand for consumer electronics.

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Best Buy's quarterly net income fell to $306 million, or $1.35 per share, from $734 million, or $2.90 per share, a year earlier. Excluding items, it earned $1.57 per share.

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