Seeking Alpha

Best Buy in focus after hhgregg limps in

  • Shares of Best Buy (BBY -1.1%) slip after dismal guidance from hhgregg (HGG -17.8%) throws a scare into investors.
  • hhgregg CEO Dennis May called the big box atmosphere "intensely promotional" and noted his company declined to participate in the price slashing.
  • The 11% drop in comp sales at hhgregg suggest Best Buy might have picked up some incremental market share in Q4.
Comments (4)
  • benitus
    , contributor
    Comments (1898) | Send Message
     
    I'm down for the count with BBY. Lost heavily, as I was distracted elsewhere, so I guess I'll just have to suck it in and wait for the results before doing anything.
    30 Jan, 04:33 PM Reply Like
  • Ben Fisher
    , contributor
    Comments (3) | Send Message
     
    BBY is right now oversold, I added yesterday more shares
    31 Jan, 07:34 AM Reply Like
  • benitus
    , contributor
    Comments (1898) | Send Message
     
    Yes, Ben, I fully agree with you, so I'm picking up more shares to average my costs. I expect the results to be relatively good, even if they are not spectacular. So, I guess I'll buy in some more if it does go down again to day, as premarket suggests.
    31 Jan, 08:20 AM Reply Like
  • loufelice
    , contributor
    Comments (10) | Send Message
     
    Sold half my position at a loss. Bought more BA at 123.50 Friday. Can' take the pain any longer.
    1 Feb, 01:10 PM Reply Like
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