Electronics retailer Best Buyer reported a 23% year over year increase in inventories in the third quarter, raising concerns about its sales success. Yet, CFO Corie Barry indicated all but 7% points was down to seasonality (timing of holiday sales) and the remainder was “due primarilty to tariffs and weather”. CEO Hubert Joly has indicated the direct impact of tariffs so far is limited, with only 7% of purchases affected. There is the potential for a more significant impact in the new year if the U.S. government widens the scope of coverage – in total China accounts for 70.6% of Best Buy...
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