Jason Benowitz Featured in Reuters “Best Buy earnings expected to fan inflation gloom gripping America’s retailers “
Published on May 24, 2022
“Inflationary pressures are weighing on discretionary purchases, particularly among low-income consumers. There was also a material shift in consumption from goods to services and demand for large ticket items appear to have suffered the most from this shift,” said Jason Benowitz, senior portfolio manager at Roosevelt Investment Group.
“We believe these trends are likely to weigh on Best Buy’s results and outlook when it reports,” he added.
“We believe investors may have gotten ahead of the company and Wall Street analysts by pricing in a downward revision to earnings expectations ahead of the quarterly report,” Benowitz said.
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