Best Buy: A Solid Buy As The Recovery Continues
Helix Investment Research
Helix Investment Research
Best Buy Continues To Show Progress
Best Buy's Dip Is A Great Opportunity
Saj Karsan • 72 Comments
Saj Karsan • 72 Comments
Tue, May 24, 7:21 AM
- Best Buy (NYSE:BBY) keeps its full-year guidance intact, despite FQ1 results that were ahead of estimates.
- International sales declined 8.11% to $614M. Sales were down 1.2% on a constant currency basis. International gross profit came in at 25.9% of sales vs. 21.6% a year ago.
- Domestic segment revenue was flat at $7.829B. Domestic comparable sales fell 0.1%./ Domestic online sales were up 23.9%.
- Consolidated gross profit rate +170 bps 25.4%. Consolidated operating income +340 bps to 4.4%. SG&A expense rate +10 bps to 20.7%.
- Guidance: Best Buy expects FQ2 EPS of $0.38-$0.42 vs. $0.50 consensus.
- The company announces that CFO Sharon McCollam will step down from her position in June. She will stay with the company in an advisory role. Corie Barry will take over the CFO spot after serving at Best Buy as the chief strategic growth officer.
- Previously: Best Buy beats by $0.09 (May 24)
- BBY -4.94% premarket to $31.36.
Tue, May 24, 7:03 AM
Mon, May 23, 5:30 PM
Thu, Feb. 25, 7:29 AM
- Comparable-store sales declined 1.7% for Best Buy (NYSE:BBY) in FQ4.
- International sales sunk 26.1% to $1.1B (F/X impact -1350 bps). International gross profit rate +40 bps to 22.1%.
- Domestic segment revenue -1.5% to $12.5B. Domestic online sales rose 13.7% to $1.95B to account for 15.6% of all sales.
- Consolidated gross profit rate +40 bps 21.7%. Consolidated operating income flat at 5.7%.
- Guidance: Best Buy expects FQ1 EPS of $0.31-$0.37 vs. $0.39 consensus.
- Previously: Best Buy announces $1B buyback and special dividend (Feb. 25 2016)
- Previously: Best Buy beats by $0.14, revenue in-line (Feb. 25 2016)
- BBY -3.34% premarket to $30.42.
Thu, Feb. 25, 7:03 AM
Wed, Feb. 24, 5:30 PM
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Nov. 19, 2015, 7:19 AM
- Comparable-store sales rose 0.8% for Best Buy (NYSE:BBY) in FQ3. Analysts expected a mark closer to 1.5%.
- International sales were down 29.9% to $729M. International gross profit rate -10 bps to 22.5%.
- Domestic segment revenue +1.2% to $8.09B. Domestic comparable-store sales were up 0.8%. Online comparable sales +21% to account for 8.8% of all sales.
- Domestic gross profit rate +110 bps to 24.1%. A higher mix of large screen TVs was a factor.
- Consolidated gross profit rate +90 bps 23.9%. Consolidated operating income +30 bps to 2.6%.
- Guidance: Best Buy expects flat domestic revenue growth in Q4 and a 30% drop in international sales.
- Previously: Best Buy beats by $0.06, misses on revenue (Nov. 19 2015)
- BBY -8.2% premarket to $28.75.
Nov. 19, 2015, 7:02 AM
- Best Buy (NYSE:BBY): Q3 EPS of $0.41 beats by $0.06.
- Revenue of $8.82B (-2.3% Y/Y) misses by $40M.
Nov. 18, 2015, 5:30 PM
Aug. 25, 2015, 7:18 AM
- Best Buy (NYSE:BBY) recorded a strong 3.8% increase in comparable-store sales in Q2, led by a 17% rise in the online sales comp. Analyst expected a mark closer to 1%.
- The company saw another sharp drop in international sales during Q2 amid store closures and F/X pressure. Sales were down 26% to $650M.
- International gross profit rate +50 bps to 23.4%.
- Domestic segment revenue +3.9% to $7.88B.
- Domestic comparable-store sales were up 2.7% as installment billing contributed positively. The comp for appliances was +21%.
- Domestic gross profit rate +130 bps to 24.7%.
- Consolidated gross profit rate +120 bps 24.6%. Consolidated operating income +70 bps to 3.4%.
- Previously: Best Buy beats by $0.15, beats on revenue
- BBY +11.4% premarket to $32.60.
Aug. 25, 2015, 7:02 AM
- Best Buy (NYSE:BBY): Q2 EPS of $0.49 beats by $0.15.
- Revenue of $8.53B (+0.8% Y/Y) beats by $240M.
- Shares +5.87% PM.
Aug. 24, 2015, 5:30 PM
May 21, 2015, 10:04 AM
- Best Buy (BBY +4.6%) sees flat to low single-digit domestic revenue growth in Q2.
- International sales are expected to fall 30% to 35% during the period on a reduced store count.
- Customer retention rate was a major focus from management during the call. The company expects to hold on to customers despite store closings.
- Execs said drivers of P&L improvement are SG&A tightening, focused marketing, and strategic tech investments
- Categories showing strength beyond expectations include "iconic" phones, large screen TVs, and major appliances/
- Previously: Best Buy beats by $0.08, beats on revenue (May. 21 2015)
- Previously: Best Buy pops after earnings crusher (May. 21 2015)
- Earnings call webcast
May 21, 2015, 7:16 AM
- Sales in Best Buy's (NYSE:BBY) international segment fell to $668M in Q1.
- Domestic segment revenue +1.4% to $7.89B
- Domestic comparable-store sales were up 0.6% with a new installment billing program contributing130 bps of growth.
- Domestic gross profit rate +120 bps to 22.7%.
- International gross profit rate -220 bps to 23.8%.
- Consolidated GAAP operating income rate -140 bps to 1.0%.
- Previously: Best Buy beats by $0.08, beats on revenue
- BBY +9.5% premarket.
May 21, 2015, 7:02 AM
- Best Buy (NYSE:BBY): Q1 EPS of $0.37 beats by $0.08.
- Revenue of $8.56B (-0.9% Y/Y) beats by $100M.
Best Buy Co., Inc. is a multinational retailer, which provides consumer electronics, home office products, entertainment products, appliances and related services. The company operates through two business segments: Domestic and International. The Domestic segment is comprised of the operations... More
Industry: Electronics Stores
Country: United States
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