❗Let's close the gap: We still need your help to raise $40,000 by April 1. Donate now

Best Buy to announce earnings amid looming tariff threats

Scott Tong Aug 28, 2019
HTML EMBED:
COPY
Kamil Krzaczynski/Getty Images

Best Buy to announce earnings amid looming tariff threats

Scott Tong Aug 28, 2019
Kamil Krzaczynski/Getty Images
HTML EMBED:
COPY

Best Buy is expected to announce quarterly earnings on Thursday following periods of strong profits. But significant trade war tariffs are looming for televisions, laptops, smart watches and video game equipment made in China.

In December, the Trump administration plans to slap 15% tariffs on a large number of Chinese imports, including retail and consumer goods. Retailers will have to decide whether to pass along higher costs or absorb some of them in the form of thinner profit margins.

“We like to call Best Buy the poster child of tariff risk,” said analyst Camilla Yanushevsky of CFRA Research.

There’s a lot happening in the world.  Through it all, Marketplace is here for you. 

You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible. 

Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.