Best Buy Posts Lower Sales on Supply-Chain Hit, Omicron Impact


Best Buy Co. ’s sales for the holiday quarter fell from a year earlier, as reduced store hours due to labor shortages caused by the Omicron variant and supply-chain challenges disrupted operations.

The electronics retailer saw sales fall to $16.37 billion in the three months ended Jan. 29, down from $16.94 billion a year ago, when homebound consumers splurged on televisions and other electronics. Analysts surveyed by FactSet were looking for $16.59 billion in quarterly sales.

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