Best Buy (BBY) is joining its fellow retailers in sending a smoke flare up on the ability of its shoppers to pay their credit card bills.
“We are seeing a more normalized rate compared to 2020,” Best Buy CFO Matt Bilunas told analysts on a conference call Tuesday regarding net credit losses.
Bilunas expressed concern on this trend worsening into 2024, as consumers battle the one-two punch of pesky inflation and higher interest rates.
Source: Finance.Yahoo
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