Best Buy (BBY) shares were down about 15% in recent trading Tuesday after Chief Executive Corie Barry warned of price rises due to tariffs imposed by President Donald Trump.
"China and Mexico remain the number one and number two sources for products we sell, respectively," Barry said during an earnings call, according to a FactSet transcript.
"While Best Buy only directly imports 2% to 3% of our overall assortment, we expect our vendors across our entire assortment will pass along some level of tariff costs to retailers, making price increases for American consumers highly likely."
Barry said the company's fiscal 2026 guidance does not include the impact of the recently enacted tariffs.
Earlier, Best Buy reported Q4 results that topped market expectations and issued a full-year earnings outlook that fell short of Wall Street estimates at the midpoint.
Price: 73.85, Change: -12.89, Percent Change: -14.86
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