The company also offered a muted forecast for a key sales metric for the holiday fourth quarter amid supply constraints that are bedeviling the entire retail industry.
Shares were down more than 16%, or
“We are definitely seeing more and more particularly organized retail crime and incidents of shrink in our locations,"
She noted that the company is hiring security guards and working with its vendors on creative ways to stage the product. Barry told reporters during a separate call that the company is seeing organized theft increase across the country, but particularly in
“Relative to last year, when consumers were still adapting to working and learning at home, there just isn’t the impetus in computing that there once was," said
Appliances remained strong, up 10.9% for the quarter on top of a 39.3% increase in the year-ago period as shoppers continue to renovate their homes.
The company reported third-quarter earnings of
The results beat
Gross margin fell to 23.4% from 24% in the year-ago period.
The consumer electronics retailer posted revenue of
The company posted a 1.6% increase in sales at stores opened at least year. That's on top of the 23% increase it posted in the year-ago period.
For the current quarter ending in January,
The company expects full-year revenue in the range of
The company is raising its full-year outlook for same-store sales to be in the range of 10.5% to 11.5%. Analysts expect 11.5%.
Elements of the story were generated by Automated Insights (http://automatedinsights.com/ap) using data from
Copyright 2021 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission., source