August 29, 2019 / 11:12 AM / 18 days ago

REFILE-Best Buy misses quarterly same-store sales estimates

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Aug 29 (Reuters) - Best Buy Co Inc reported a smaller-than-expected rise in quarterly same-store sales on Thursday, as the biggest U.S. consumer electronics retailer sold fewer video game consoles and other entertainment products.

Best Buy’s overall same-store sales rose 1.6% in the second quarter ended Aug. 3. Analysts on average had expected a 2.15% increase, according to IBES data from Refinitiv.

Revenue rose to $9.54 billion from $9.38 billion, a touch below expectations of $9.56 billion.

The company also narrowed its full year sales forecast to a range of $43.1 billion to $43.6 billion, from a $42.9 billion to $43.9 billion range, citing planned further increases in U.S. tariffs on Chinese goods.

Reporting by Uday Sampath in Bengaluru Editing by Tomasz Janowski

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