Consumer Discretionary

Best Buy (NYSE:BBY) reported fiscal Q1 non-GAAP earnings of $1.15 per diluted share, down from $1.57 a year earlier. Analysts polled by Capital IQ expected $1.10. Revenue for the quarter ended April 29 was $9.47 billion, compared with $10.65 billion a year ago. Analysts surveyed by Capital IQ expected $9.53 billion. The company’s fiscal Q1 comparable sales were down 10.1%, compared with a fall of 8% a year earlier. Analysts polled by Capital IQ expected a fall of 9.9%. The retailer said it continues to expect fiscal 2024 non-GAAP earnings of $5.70 to $6.50 per diluted share. Analysts surveyed by Capital IQ expect $6.20. Fiscal 2024 revenue is still anticipated in the range of $43.80 billion to $45.20 billion, Best Buy said. Analysts polled by Capital IQ expect $44.57 billion. The company also said it continues to expect fiscal 2024 comparable sales to fall 3% to 6%. Analysts surveyed by