Best Buy reports — What to know in markets Thursday

Heidi Chung
·Reporter

Despite the dismal retail earnings out this week, it hasn’t been too bad for the big box retailers.

Next up among the bunch is Best Buy (BBY), which releases its quarterly results ahead of the opening bell Wednesday. Investors will be waiting eagerly to see if Best Buy will be able to keep up the momentum for the big box retailers.

Analysts are expecting Best Buy to report earnings of 87 cents per share on $9.14 billion of revenue. Same-store sales growth is projected to have grown 1.1% during the quarter, according to data compiled by Bloomberg.

The trade war between the U.S. and China is running hot, and retailers are waiting with bated breath to see what transpires between the two feuding nations in the coming months. Washington has threatened another round of 25% tariffs on $300 billion of Chinese goods, and if that final round of tariffs is pushed through, retailers and consumers will be feeling the pinch.

A slew of retailers that have recently released earnings results expressed concern over the intensifying trade war. Because Best Buy is an electronics retailer, the impact could be even greater than for its peers.

Shares of Best Buy have soared 32% in 2019 and have outperformed the retail ETF, XRT, which has risen 3% in the same time period.

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Heidi Chung is a reporter at Yahoo Finance. Follow her on Twitter: @heidi_chung.

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