Consumer electronics retailer Best Buy (NYSE: BBY) is facing tough comparisons following several quarters of robust demand for its products fueled by work-from-home and remote learning trends as well as several rounds of government stimulus. Best Buy’s Q4 FY22 (ended January 29, 2022) revenue declined 3.4% year-over-year to $16.4 billion. Comparable sales fell 2.3%, versus growth of 12.6% in Q4 FY21. Adjusted EPS was down 21.6% to $2.73. The company faced multiple headwinds in Q4 FY22, including constrained inventory (even for some high-demand holiday items) and reduced store hours in January due to Omicron-led staffing issues.       Best Buy shares have declined 6.3% year-to-date and 21.2% over the past 52-weeks.
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Best Buy (NYSE:BBY)
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