Omnichannel

Best Buy hikes prices due to tariffs

Photo: JHVEPhoto - stock.adobe.com

June 11, 2025

Electronics retailer Best Buy is already increasing prices to the tariff pronouncements and missed its quarterly revenue expectations and cut its full-year sales and profit guidance.

The retailer has increased prices in response to tariffs since mid May, according to a CNBC report, citing statements by CEO Corie Barry in an earnings report.

Barrie described the price increases as "the very last resort" to offset higher expenses, according to the news outlet.