Best Buy's tariff plan: Raise prices, cut costs and find suppliers
Best Buy CEO Corie Barry said Thursday that the company has already raised prices on some of its products to offset President Trump's tariffs.
Why it matters: Despite a federal court striking down the president's authority to impose the tariffs this week, Best Buy said it's planning as if tariffs will remain at their current rates.
What they're saying: "I don't think there is anything we would do differently based on the news overnight," Barry told reporters Thursday, per the Wall Street Journal. "What I've really tried to work with the team on is to not actually overreact to any given moment."
State of play: The Richfield-based electronics retailer said it's also been negotiating with suppliers to cut costs and reduce its reliance on Chinese goods.
The big picture: Barry said tariffs are just one factor weighing on consumer confidence.
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