This copy is for your personal, non-commercial use only. To order presentation-ready copies for distribution to your colleagues, clients or customers visit http://www.djreprints.com.
Best Buy was falling sharply in premarket trading Tuesday after the electronics retailer posted fiscal third-quarter earnings that topped estimates and the company boosted its sales outlook for fiscal 2022.
A decline in gross margin likely was the reason for the stock’s sharp decline in premarket trading. Gross margin in the third quarter fell to 23.5% from 23.6% a year earlier.