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Best Buy: narrows full-year revenue guidance

(CercleFinance.com) - Consumer electronics retailer Best Buy has narrowed its full-year revenue guidance on Thursday, based on the recent increase in tariffs on goods from China.

The retailer also cited the "general uncertainty" relating to overall customer buying behavior in the back half of the year.

For its full-year 2019/2020, the Minneapolis-based group said it expects revenues of between 43.1 billion dollars and 43.6 billion dollars, compared to a previous guidance of 42.9 billion to 43.9 billion dollars.

Non-GAAP diluted EPS is now expected between 5.60 dollars and 5.75 dollars, while Best Buy had previously set a full-year guidance range of 5.45 dollars to 5.65 dollars.

In the past quarter, net earnings rose to 1.08 dollar a share, compared with 0.91 dollar a share last year.

Total sales reached 9.5 billion dollars, from 9.4 billion dollars one year ago. Same-store sales increased by 1.6%.

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