REUTERS/Jim Young/File Photo Acquire Licensing RightsNov 21 (Reuters) - Top U.S. electronics retailer Best Buy (BBY.N) on Tuesday forecast a bigger decline in annual comparable sales and pointed to "difficult to predict" consumer demand, days ahead of Black Friday that signals the start of the holiday shopping season.
"In the more recent macro environment, consumer demand has been even more uneven and difficult to predict," CEO Corie Barry said in a statement.
Retailers from Lowe's (LOW.N) to Walmart (WMT.N) have warned of cautious consumer spending as the holiday shopping season gets underway.
U.S. holiday sales this year are expected to grow at a slower pace, according to data from the National Retail Federation.
Best Buy's third-quarter revenue fell 8.2% to $9 billion in the U.S. as demand fell again across appliances, home theater, computing and mobile phones, signaling that higher discounts failed to entice shoppers.
Persons:
Jim Young, Corie Barry, Steven Zaccone, Savyata Mishra, Sriraj
Organizations:
REUTERS, Lowe's, Walmart, National Retail Federation, Citi, Thomson
Locations:
Niles , Illinois, Chicago, U.S, comparables, Bengaluru