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Tae Kim

For Best Buy, the Worst Is Yet to Come

Flagging e-commerce sales and a disappointing holiday outlook point to difficulty ahead for the consumer electronics retailer.

Weak outlook.

Weak outlook.

Photographer: Scott Olson/Getty Images

Best Buy Co. Inc.’s post-pandemic slowdown has officially begun. And unfortunately for its investors, there are clear signs the electronics retailer’s troubles might just be getting started. 

Early Tuesday, the company reported revenue of $11.91 billion for the quarter ended in October, slightly above the $11.69 billion median estimate of analysts surveyed by Bloomberg, and roughly flat compared with last year. Revenue growth was markedly lower than the 36% and 20% rates Best Buy had in its first and second quarters, respectively.