If you click on a link and make a purchase we may receive a small commission. Read our editorial policy.

Best Buy CEO sees indicators of "tougher climate"

Best Buy CEO Brad Anderson said that he saw signs of a tougher retail climate,and that his company would feel the strain if its customers did

Best Buy CEO Brad Anderson said that he saw signs of a tougher retail climate, and that his company would feel the strain if its customers did.

Speaking to Reuters at the close of the CES in Las Vegas, Anderson pointed to mortage problems and high fuel prices.

"If our customers feel it, we feel it," he said.

"All of these things will have some impact. If the S&P is down for a good reason, and sustains down ... over time, we wind up feeling that from the economy."

Best Buy will be reporting its monthly sales data on Friday. Circuit City, a competing retailer, reported an 11.4 per cent slide in December sales earlier this week.

Despite concerns about the economy, Anderson cautioned that it was easy to inflate the impact on consumers. He notes that ever-changing technology keeps consumers interested in electronics.

"We have never had to pull anything back in a significant way and don't see that on the horizon. Right now we see indicators that it's a tougher climate, but we don't see indicators to say that its likely to be a really difficult one," he said.

More News

Latest Articles