Highlights

• Best Buy locations across Louisiana already raised prices on electronics due to tariffs
• Price increases took effect by mid-May on phones, TVs, laptops, and appliances
• CEO calls price hikes "very last resort" but admits they were necessary
• 70-75% of Best Buy merchandise subject to tariffs ranging from 10% to 30%
• Company cuts profit outlook as trade policy continues impacting consumer costs

Best Buy Stores Across Louisiana Warn Shoppers of Electronics Price Increases Due to Tariffs

Major electronics retailer with locations in New Orleans, Baton Rouge, and Shreveport already implemented price hikes by mid-May

LAFAYETTE, La. (KPEL News) — Electronics shoppers across Louisiana are facing higher prices at Best Buy stores after the national retailer increased costs on phones, televisions, laptops, and appliances due to federal tariffs on imported goods.

According to the company's latest earnings report, Best Buy has locations throughout Louisiana, including New Orleans, Baton Rouge, Shreveport, Lafayette, and Lake Charles, and all have implemented the price increases that took effect by mid-May.

What Louisiana Shoppers Need to Know About Price Increases

Best Buy CEO Corie Barry called the price hikes "the very last resort" but said they were necessary to offset higher costs from tariffs. The company declined to specify which exact items are affected, citing competitive reasons, but the increases impact the store's most popular categories.

The retailer's merchandise breakdown shows why prices are rising: approximately 30-35% of Best Buy's products come from China and face tariffs up to 30%, while another 40% come from countries like Vietnam, India, South Korea, and Taiwan that are subject to 10% tariffs. Only about 25% of merchandise comes from the U.S. or Mexico and avoids tariffs.

Which Electronics Categories Are Most Affected

Louisiana consumers shopping for consumer electronics should expect higher prices on items that are typically manufactured overseas, including smartphones, televisions, laptops, kitchen appliances, tablets, and home theater systems.

However, some categories are showing growth despite the price pressures. The company reported increased sales in computing, mobile phones, and tablets, while seeing declines in home theaters, appliances, and drones compared to last year.

Best Buy's Response to Ongoing Trade Policy Changes

Company officials say they're working to minimize the impact on customers by encouraging vendors to manufacture in multiple countries, negotiating lower costs, and adjusting their product mix. Barry emphasized that about 97-98% of the retailer's merchandise is imported by vendors rather than directly by the company.

The electronics chain joins other major retailers like Abercrombie & Fitch and Macy's in cutting profit outlooks this week due to tariff impacts. Best Buy reduced its full-year revenue guidance and lowered expected earnings per share ranges.

Federal Court Ruling Could Change Tariff Landscape

A federal trade court struck down many tariffs late Wednesday, but Barry said the ruling reinforces that the company must stay flexible as trade policies continue evolving.

"If you look back over the last, let's call it four months, the variety of points where there has been a change in approach to global trade, they are myriad," Barry said during an earnings call Thursday.

The uncertainty means Louisiana shoppers may continue seeing price fluctuations on electronics as retailers adapt to changing trade policies and their impact on import costs.