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☆ What to put on your holiday gift list before tariffs make them more expensive next year
▼ + stars: | 2024-12-02 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +6 min

On the campaign trail, he pledged a 60% tariff on goods imported from China and a 10% to 20% tariff on goods from other countries. But if tariffs do happen, we don’t know, for instance, how long they’ll last and if there will be exclusions. Still, new tariffs could significantly increase consumer prices on nearly everything that isn’t entirely US-made, which isn’t much these days. Here’s what you might want to put on your holiday shopping list now to get ahead of possible tariffs. China accounts for 78% of US total imports, according to a recent analysis commissioned by the Consumer Technology Association report.

Persons: Donald Trump, he’s, Trump, it’s, ”, Scott Lincicome, —, ” Lincicome, Corie Barry, Steve Madden Organizations: New, New York CNN, Cato Institute, Consumer Technology Association, CTA, Apple, National Retail Federation, Trump Locations: New York, Mexico, Canada, China, United States, India

The tariffs would be a significant escalation of Trump’s previous proposal, which was already a major increase on more targeted tariffs enacted during Trump’s first administration and kept in place by President Joe Biden. Canada is similarly considering its own options, including possible tariffs on U.S. goods, according to The Associated Press. America’s biggest import from Canada is oil — and any increase in energy prices would likely be felt throughout the economy. And in her statement reacting to Trump’s posts, Mexico’s Sheinbaum stated caravans of migrants were no longer reaching the border. And now he’s talking about tariffs to punish Mexico and Canada for not enforcing drugs and migrants across the border.

Persons: Donald Trump, Trump, Trump’s, Joe Biden, Claudia Sheinbaum, ” Ernie Tedeschi, Biden, Corie Barry, “, ” Barry, ”, Kayleigh McEnany, Dan Crenshaw, doesn’t, Steve Forbes, Mexico’s Sheinbaum, Douglas Irwin, mingles, you’re, ” Irwin Organizations: Yale, NBC News, Associated Press, America’s, Canada —, NBC, National Retail Federation, ”, Trump, ” Fox News, Fox News, Centers for Disease Control, U.S . Drug, Administration, U.S . Customs, Border Patrol, Dartmouth University Locations: Mexico, Canada, U.S, China, Texas

☆ 5 things to consider buying before new tariffs take effect
▼ + stars: | 2024-11-28 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +6 min

Such tariffs have the potential to significantly increase the prices consumers pay on nearly everything that isn’t made entirely in the US, of which there are very few goods. And as we witnessed during the pandemic, “stockpiling by consumers can actually lead to higher prices in and of themselves and empty store shelves,” he said. That said, here are five items that are likely to get more expensive with any new tariffs Trump imposes that may make sense to purchase before he takes office. But if you need a new one – or will soon – now’s a good time to consider buying. E-bikesOne item that tops the list of things that could get spendier under Trump’s tariffs is e-bikes, Lincicome told CNN.

Persons: Donald Trump’s, Trump, he’s, isn’t, Scott Lincicome, –, ” Lincicome, Ed Brzytwa, Gary Shapiro, “, Corie Barry, Lincicome, “ It’s, Donald Trump Organizations: New, New York CNN, Peterson Institute for International Economics, Cato Institute, Trump, National Retail Federation, Consumer Technology Association, CTA, CNN, “ Locations: New York, Mexico, Canada, China, US

Many U.S. retailers are hoping to put the fall quarter behind them. But she said the company has begun to see holiday sales momentum now that the vote is over — with particular demand for computers, tablets and sales in its services department. Among those expecting stronger holiday sales Tuesday was Abercrombie & Fitch, which continues to see a sales renaissance. The trendy apparel chain now expects holiday quarter sales growth of 5% to 7%, ahead of the 4.8% growth that analysts had expected, CNBC reported. It also lifted its sales growth guidance for the full year.

Persons: Corie Barry, ” Barry, it's Organizations: U.S, GOP, Republicans, Conference Board, Abercrombie, Fitch, CNBC, New York Stock Exchange, Philadelphia Federal Reserve Locations: Burlington, U.S

☆ Best Buy cuts full-year sales forecast due to softer demand for consumer electronics
▼ + stars: | 2024-11-26 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +4 min

People walk into a Best Buy store in a Brooklyn mall on August 29, 2023 in New York City. Best Buy on Tuesday cut its full-year sales forecast as it missed Wall Street's quarterly revenue expectations and a fresh batch of iPhones and AI-enabled laptops weren't enough to drive higher sales. It expects full-year comparable sales to decline by between 2.5% and 3.5%, compared to its prior expectations of a 1.5% to 3% drop. Comparable sales includes sales online and at stores open for at least 14 months. Shares of Best Buy were down about 3% in premarket trading Tuesday.

Persons: Corie Barry, Barry, Matt Bilunas Organizations: LSEG, Microsoft Locations: Brooklyn, New York City, U.S

☆ We knew Best Buy's quarter and guide would be weak. Here's our plan for the stock
▼ + stars: | 2024-11-26 | by ( Zev Fima | ) www.cnbc.com time to read: +8 min

BBY YTD mountain Best Buy YTD These were not the results we wanted from Best Buy, but they are the numbers we had expected. Best Buy stock below $80 would push the dividend yield up to just under 5% — a nice payout for our patience. We still believe in the stock because Best Buy should benefit once mortgages drop and housing turnover picks up. Best Buy Why we own : We believe Best Buy will prove to be a go-to destination for consumers looking to upgrade hardware, much of which was purchased during Covid, to new AI-powered devices. In the Best Buy app, the company also launched the "Best Buy Gift Finder," an AI-powered gifting guide to help consumers find new products.

Persons: Jim Cramer, it's, Donald Trump, Jim, Corie Barry, Barry, Matthew Bilunas, Jim Cramer's, David Paul Morris Organizations: Revenue, LSEG, Target, Walmart, Amazon, Costco, Enterprise, Black, Microsoft, Meta, Management, CNBC, Bloomberg, Getty Locations: Tuesday's, Union City , California

☆ Best Buy CEO says higher costs from tariffs would mean higher prices for shoppers
▼ + stars: | 2024-11-26 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +2 min

AdvertisementBest Buy is bracing for Trump's proposed tariffs on imports from China and Mexico. Barry said consumers typically bear some of any added costs in the form of higher prices. Best Buy is bracing for the impact of Donald Trump's proposed tariffs on imports from China and Mexico — especially as the vast majority of items it sells come from the two countries. "There's very little in the consumer electronics space that is not imported," Barry said. Advertisement"We see that the customer ends up bearing some of the cost of the tariffs," Barry said.

Persons: Corie Barry, Barry, Donald Trump's, Trump Locations: China, Mexico, Canada, Goods

☆ Super giant TVs are flying off store shelves
▼ + stars: | 2024-11-05 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +3 min

XXL TVs – are becoming a huge hit as the cost of giant screens sinks sharply, and viewers look to replace the screens they bought during the peak of the pandemic a few years ago. Still, the growing popularity of XXL TVs could help Best Buy climb out of a series of downbeat quarters. Target, Costco and Walmart also have similar XXL TVs on sale ahead of the holiday season. XXL TVs are mirroring the growth of what four years ago were considered extra-large televisions: 65-inch models that customers scooped up during the pandemic. But with those now-four-year old televisions starting to get long in the tooth for some impatient customers, XXL TVs represent an attractive upgrade.

Persons: Corie Barry, ” Blake Hampton, ” Paul Gagnon Organizations: New, New York CNN, XXL, CNN, Target, Costco, Walmart Locations: New York, United States, ”

☆ These dividend growers are also on Goldman Sachs' buy list
▼ + stars: | 2024-10-09 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

Goldman Sachs recently screened for stocks that offer solid dividend yield as well as dividend growth, both of which can be covered by the company's earnings or free cash flow. All the names had to also be rated a buy at Goldman and have an estimated dividend yield of 2% or more in 2025. It has an estimated 2025 dividend yield of 4.6%, analyst Deep Mehta said. Its estimated CAGR in dividend-per-share between 2024 and 2026 stands at 19% and its estimated dividend yield in 2025 is 2.9%. In the oil patch, integrated producer Chevron is expected to nab a dividend yield of 4.9% next year.

Persons: Goldman Sachs, Deep Mehta, Corie Barry, Mehta, Prologis, Hess, John Hess Organizations: Federal Reserve, Goldman, Citigroup, Rent, Chevron, nab, Canadian Natural Resources, Federal Trade Commission, Exxon, Hess Locations: Guyana

☆ These 3 ugly duckling stocks will become beautiful swans as the Fed cuts rates
▼ + stars: | 2024-09-29 | by ( Jim Cramer | ) www.cnbc.com time to read: +14 min

Some of it had to do with the old joke being that Best Buy was nothing but an Amazon showroom. CEO Corie Barry is a no-nonsense heavyweight who mastered the supply chain for Best Buy during the pandemic. As the JPMorgan recent upgrade on Best Buy said, most investors don't realize how awful this period has been for Best Buy. It doesn't hurt, of course that Best Buy has a substantial dividend — 3.68%, down from 4% and 5% when we were buying it. We have watched Eaton and Dover go higher and that was without the rate cycle, just with the data center.

Persons: Stanley Black, Decker, —, couldn't, Corie Barry, Barry, don't, It's, Stanley, Trump, Helene, Hock Tan, Marc Benioff, Mike Sievert, Blackwell, Jim Cramer's, Jim Cramer, Jim, Melissa Repko Organizations: Empire, Circuit, Intel, HP Inc, HP, JPMorgan, Williams, Dick's Sporting Goods, Abercrombie, Fitch, Depot, Procter, Gamble, Linde, Honeywell, Quantum Computing, Tech, Broadcom, VMWare, Elon, Mobile, Nvidia, Jim Cramer's Charitable, CNBC, Microsoft Locations: Sonoma, Covid, China, Lowe's, Eaton, Dover, San Francisco, Secaucus, N.J

☆ AI gadgets have been a bust so far. Apple aims to change that
▼ + stars: | 2024-09-05 | by ( Steve Kovach | ) www.cnbc.com time to read: +8 min

The system is called Apple Intelligence, and it'll be rolling out over the coming months. Apple plans to roll out Apple Intelligence in stages. Plus, app developers will be able tap into Apple intelligence, so you can use it everywhere on your phone. In the PC market, Microsoft's Copilot+ PCs launched this summer, but without their marquee AI feature, Recall. Without Recall, there's not much AI in this batch of AI PCs.

Persons: they've, Nabila Popal, they'll, Canalys, Gerrit Schneemann, Tim Cook, Nic Coury, supercharge Siri, Schneemann, IDC's Popal, Popal, it's, there's, Alex Katouzian, Katouzian, Corie Barry, Jaque Silva Organizations: Microsoft, Meta, Google, Nvidia, Apple, Samsung, Dell, HP, Qualcomm, Apple Intelligence, Will Apple Intelligence, IDC, Counterpoint Technology, Developers Conference, Afp, Getty, Motorola, Gemini Locations: China, U.S, Cupertino , California

☆ Best Buy stock soars on a beat and raise. We think that's just the beginning
▼ + stars: | 2024-08-29 | by ( Zev Fima | ) www.cnbc.com time to read: +9 min

Best Buy 's quarterly beat and guidance raise on Thursday was good for a 15% pop in the stock as investors rewarded better execution and the promise of wider adoption of AI devices and lower interest rates. BBY YTD mountain Best Buy YTD Thursday's advance sent Club stock Best Buy back above $100 and above our price target of $95. On the call, Best Buy CEO Corie Barry, said that growth in tablets, computing, and services, was more than offset by declines in appliances, home theater, and gaming. Best Buy Why we own : We took a position in Best Buy because we believe it will prove to be a go-to destination for consumers looking to upgrade hardware, much of which was purchased during Covid, to new AI-powered devices. Microsoft PCs on display at a Best Buy store in Secaucus, N.J. Melissa Repko | CNBC

Persons: there's, Corie Barry, comps, we're, Barry, Jim Cramer's, Jim Cramer, Jim, Melissa Repko Organizations: Revenue, LSEG, Home, Computer, Target, Walmart, Amazon, Costco, Management, Mobile, Microsoft, Geek, CNBC Locations: Lowe's, Williams, Sonoma, Secaucus, N.J

☆ Best Buy shares surge on profit beat and guidance hike
▼ + stars: | 2024-08-29 | by ( Ece Yildirim | In Ecedyildirim | ) www.cnbc.com time to read: +4 min

People walk into a Best Buy store in a Brooklyn mall on August 29, 2023 in New York City. Best Buy raised its fiscal-year profit guidance Thursday after exceeding earnings and revenue expectations for the most recent quarter. Shares of Best Buy jumped more than 15% in morning trading Thursday. Best Buy has been in the midst of an attempted turnaround in response to a two-year sales slump. "We capitalized on demand driven by our customers' desire to replace or upgrade their products, combined with new innovation," Barry said during the company's earnings call.

Persons: Matt Bilunas, Corie Barry, Barry Organizations: LSEG, Apple, Microsoft Locations: Brooklyn, New York City

☆ Inside Best Buy's push to get back to sales growth, cash in on AI craze
▼ + stars: | 2024-07-23 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +7 min

One of Best Buy's major hopes to drive sales comes from artificial intelligence-enabled laptops and smartphones. Best Buy expects revenue to range from $41.3 billion to $42.6 billion, a decline from $46.3 billion last year. (Best Buy is among the retailers that have participated in the Amazon-created retail holiday by offering up its own deals.) The collection, which includes roughly 40 different items with about 40% exclusive to Best Buy, began to get delivered in mid-June. A Best Buy store in Woodbridge, Virginia, US, on Tuesday, May 21, 2024.

Persons: Melissa Repko, Corie Barry, Barry, Steven Zaccone, Gram, Nathan Howard, headwinds Organizations: CNBC, Citi Research, Adobe Analytics, Apple, Samsung, Microsoft, YouTube, company's, Bloomberg, Getty Locations: Secaucus, N.J, Woodbridge , Virginia

Former President Donald Trump will address some of the world's most powerful corporate leaders on Thursday, albeit with some notable absences. So here's what we know: Out of the 17 corporate spokespeople who replied to CNBC, four said their CEOs planned to attend: JPMorgan Chase CEO Jamie Dimon, Citigroup CEO Jane Fraser, Bank of America CEO Brian Moynihan and Edison International CEO Pedro Pizarro. BlackRock CEO Larry Fink and Microsoft CEO Satya Nadella, for instance, will reportedly be at the G7 summit in Italy. Representatives for Woods and Bastian did not reply to questions about why their chief executives won't be attending the meeting. Fox Corp. CEO Lachlan Murdoch, Best Buy CEO Corie Barry and Boeing CEO Dave Calhoun will also not be there, spokespeople told CNBC Thursday.

Persons: Donald Trump, Bank of America Brian Moynihan, Joe Biden's, Jeff Zients, —, Jamie Dimon, Jane Fraser ,, Brian Moynihan, Pedro Pizarro, Trump, Steve Schwarzman, Goldman Sachs, David Solomon, Sara Armbruster, Darren Woods, Ed Bastian, Morgan Stanley, Ted Pick, James Gorman, Lynn Good, Solomon, Larry Fink, Satya Nadella, Woods, Bastian, Fink, Nadella, Lachlan Murdoch, Corie Barry, Dave Calhoun, spokespeople Organizations: Bank of America, White, Business, CNBC, JPMorgan Chase, Citigroup, Jane Fraser , Bank of America, Edison International, Trump, Blackstone Group, ExxonMobil, Delta Air, Duke Energy, BlackRock, Microsoft, Fox Corp Locations: Washington , DC, Trump, Italy, Washington

☆ A longtime skeptic on Best Buy now says buy the stock — here's what changed their mind
▼ + stars: | 2024-06-03 | by ( Paulina Likos | ) www.cnbc.com time to read: +5 min

A longtime bearish analyst on Best Buy has jumped over to our side the debate after its head-turning earnings report last week. Barry said Best Buy expects to have the largest assortment of AI PCs on sale later this month from brands such as Dell, Microsoft and HP, with "more than 40% of the assortment retail exclusive to Best Buy." Based on Monday's prices, Best Buy would need to gain nearly 59% to take out its old highs. Considering the innovation pipeline ahead, Citi analysts are optimistic Best Buy shares can go even higher. People walk into a Best Buy store in a Brooklyn mall on August 29, 2023 in New York City.

Persons: Jim Cramer, Corie Barry, Barry, Jim, it's, Jim Cramer's, Spencer Platt Organizations: Citigroup, Citi, Dell, Microsoft, HP, Nasdaq, CNBC, Getty Locations: Brooklyn, New York City

☆ Best Buy posts another quarter of sluggish consumer electronics demand
▼ + stars: | 2024-05-30 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +5 min

A Best Buy store stands outside of a Brooklyn mall on August 29, 2023 in New York City. Best Buy on Thursday missed Wall Street's quarterly sales expectations, but stressed higher profits and lower costs as softer demand for consumer electronics continues. Adjusting for one-time items, including restructuring charges, Best Buy reported earnings of $1.20 per share. She did not specify the number of layoffs, but said Best Buy would invest in areas that could drive growth, like artificial intelligence. Best Buy on Thursday adjusted its full-year capital expenditures forecast to an estimate of $750 million, down from as much as $800 million.

Persons: Corie Barry, Barry, Matt Bilunas Organizations: LSEG, Apple, Microsoft Locations: Brooklyn, New York City, U.S, Minneapolis

☆ Best Buy surges on signs that the expected AI-driven PC and smartphone refresh is starting
▼ + stars: | 2024-05-30 | by ( Zev Fima | ) www.cnbc.com time to read: +8 min

Bottom Line This was a better-than-feared quarter from Best Buy. Services are an area that Best Buy can lean into and leverage to differentiate from online retailers like Amazon . Importantly, she noted that not only will Best Buy have the largest assortment of AI-enabled PCs but over 40% of that assortment will be exclusive to Best Buy. Going back to how Best Buy can compete with the likes of Amazon, Best Buy is working closely with vendors on marketing strategies and demonstrations to offer a "unique educational and interconnected digital shopping journey." Bimal Tandel photographs Bhavin Tandel and Dinesh Tandel, crew members on the Klara Oldendorff, in front of a Best Buy in Timonium, Maryland, U.S., March 29, 2024.

Persons: Corie Barry, we're, Barry, FactSet, Jim Cramer's, Jim Cramer, Jim, Bimal, Bhavin Tandel, Dinesh Tandel, Klara Oldendorff, Julia Nikhinson Organizations: LSEG, Services, Amazon, Computer, Target, Walmart, Costco, Barry, Apple, CNBC Locations: Timonium , Maryland, U.S

☆ Best Buy CEO Corie Barry goes one-on-one with Jim Cramer
▼ + stars: | 2024-05-30 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBest Buy CEO Corie Barry goes one-on-one with Jim CramerBest Buy CEO Corie Barry joins 'Mad Money' host Jim Cramer to talk implementing AI into the customer experience.

Persons: Corie Barry, Jim Cramer

☆ Best Buy CEO explains how the company is preparing to sell new AI-enabled computers
▼ + stars: | 2024-05-30 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Best Buy CEO Corie Barry told CNBC's Jim Cramer the electronics retailer is getting ready to sell a slew of new artificial intelligence-enabled personal computers. Amazon , Best Buy , Costco and other retailers will sell the new computers. Best Buy released earnings Thursday morning that showed weaker-than-expected sales, but Barry said on the earnings call that new devices would boost excitement and sales. Barry said Best Buy employees will be trained to help customers get the most from their purchases by explaining the new features. She added that Best Buy is "trying to help bring the story to life no matter who the vendor partner is."

Persons: Corie Barry, CNBC's Jim Cramer, Barry, We've, we've Organizations: Microsoft, Dell, HP, Lenovo, Costco, Qualcomm

☆ AI gives us the ability to create more at a larger scale, says Best Buy CEO Corie Barry
▼ + stars: | 2024-05-30 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAI gives us the ability to create more at a larger scale, says Best Buy CEO Corie BarryBest Buy CEO Corie Barry joins 'Mad Money' host Jim Cramer to talk implementing AI into the customer experience.

Persons: Corie Barry, Jim Cramer

☆ Stocks making the biggest moves midday: Salesforce, Kohl's, HP, Best Buy and more
▼ + stars: | 2024-05-30 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

Its fiscal first-quarter revenue was $9.13 billion, versus the $9.17 billion expected from analysts polled by LSEG. Foot Locker's earnings per share came in at 22 cents, versus the LSEG consensus estimate of 12 cents per share. Agilent Technologies — The stock fell nearly 8% after the company reported a slight revenue miss but an earnings beat. However, Hormel's adjusted earnings per share of 38 cents topped the 36 cents expected from analysts. American Eagle Outfitters — The retail stock slipped 3.6% after the clothing company reported weaker-than-expected sales in its fiscal first quarter on Wednesday.

Persons: Salesforce, LSEG, FactSet, Rob Enslin, Corie Barry, Agilent, Nutanix, Mike Mathias, —, Lisa Kailai Han, Hakyung Kim Organizations: LSEG, Revenue, HP —, HP, StreetAccount . Revenue, Burlington, American Eagle Outfitters, CNBC Locations: LSEG

☆ Macy's and Best Buy are banking on small-format stores to lower costs and boost consumer convenience amid an ever-shifting retail landscape
▼ + stars: | 2024-03-04 | by ( John L. Dorman | ) www.businessinsider.com time to read: +2 min

Both announced last week that they would open more small-format locations. In recent years, Macy's opened eight small-format stores called Market by Macy's, the company's foray into off-mall boutique-sized locations, along with a small-format Bloomingdale's concept called Bloomie's. Last October, the company announced it was expanding its small-format stores, aiming to add 30 locations by the end of 2025. Meanwhile, Best Buy is set to overhaul its in-store experience for customers as it also eyes a retail landscape where small-format stores are becoming more prevalent. "Second, we will test our ability to close a large-format store and open a small-format store nearby, thereby maximizing physical store retention through convenience."

Persons: —, Macy's, Tony Spring, Corie Barry Organizations: Service, The Washington, Business, Nordstrom, Target, The New York Times, Macy's

☆ Premarket stocks: Retailers warn Wall Street to expect less shopping this year
▼ + stars: | 2024-03-01 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

Lowe’s: The home improvement giant projected total sales of $84 billion to $85 billion for 2024 in fourth-quarter results reported on Tuesday. Mortgage rates edge closer to 7%, dampening start of spring homebuying seasonUS mortgage rates climbed for the fourth week in a row, inching closer to 7% just as peak homebuying season gets underway, reports my colleague Anna Bahney. “Mortgage rates continued their ascent this week, reaching a two-month high and flirting with 7% yet again,” said Sam Khater, Freddie Mac’s chief economist, in a statement. Since reaching a 20-year high of 7.79% in October, mortgage rates have been slowly falling. But in recent weeks, as the market absorbs expectations that the Federal Reserve will not cut its benchmark lending rate until later this year, mortgage rates have trended higher.

Persons: they’re, ”, Marvin Ellison, Macy’s, Tony Spring, Corie Barry, ’, ” Barry, Diksha Madhok, Hanna Ziady, “, Thamashi De Silva, Knight Frank, Read, Anna Bahney, Freddie Mac, Sam Khater, Freddie Mac’s, Khater Organizations: CNN Business, Bell, New York CNN — Companies, Federal Reserve, Commerce Department, United States’s, Gross, Capital Economics, “ Locations: New York, That’s, India

☆ Best Buy tops holiday quarter estimates but issues soft full-year guidance
▼ + stars: | 2024-02-29 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +5 min

For this fiscal year, Best Buy anticipates revenue will range from $41.3 billion to $42.6 billion. In a news release Thursday, CEO Corie Barry said Best Buy expects the coming year to be one "of increasing industry sales stabilization." That metric is expected to improve in the coming year, as Best Buy benefits from changes to its annual membership program, a newer moneymaker for the retailer. Like home improvement companies, Best Buy saw outsized spending as shoppers were stuck at home. Shares of Best Buy closed at $79.68 on Wednesday, bringing the company's market value to $17.16 billion.

Persons: Corie Barry, they've, Matt Bilunas, Barry Organizations: LSEG, CNBC PRO Locations: U.S

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