Seeking Alpha

Early peek at Best Buy's Q4: Tough comps and heightened promotional activity

  • Tiburon Research Group's Rob Wilson pulls back the comparisons on Best Buy (BBY) to find a slight acceleration in the retailer's sales drop.
  • On a 2-year comparison, same-store sales in the U.S. fell 2.3% in Q3 (2.0% in Q2) - while on the international side comp growth was -16.7% (-13.1% in Q2).
  • The trick for Best Buy is that the comps start getting tougher beginning in Q4 just as promotional activity in the sector picks up, says Wilson.
  • BBY -5.7% premarket.
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