Best Buy reported a shortfall in sales for the holiday quarter as the electronics chain struggled with a shortage of supplies, according to a news release by BestBuy on Thursday.

  • The company stated that earnings dropped to $626 million or $2.73 per share in the fourth quarter. That’s compared with $816 million or $3.48 per share.
  • The Minneapolis-based chain announced profits in line with the Wall Street expectations.
  • Revenue dropped to $16.36 billion in Q4, from $16.94 billion in Q3. Sales at domestic stores dropped by 2.1% to a growth of 12.4% in the prior-year quarter.
  • The company projects earnings per share for the current fiscal year to range from $8.85 to $9.15 and expects revenues to be within the range of $49.3 billion to $50.8 billion.

Meanwhile, the company expects the sales to be in the range of $53.5 billion to $56.5 billion for the fiscal 2025 year. Analysts from FactSet projected $53.5 billion. BBY: NYSE is down -0.08%.