• Fri, Jan. 13, 2:15 PM
    • Some major store chain names are lower after the retail sales report this morning showed weakness in some key categories and GameStop issued disappointing sales numbers for the holiday period.
    • Best Buy (BBY -0.7%), Wal-Mart (WMT -1%), Target (TGT -1.3%), Signet Jewelers (SIG -3%), J.C. Penney (JCP -1.6%), Nordstrom (JWN -1.4%) and Conn's (CONN -4%) are some of the stocks in the retail sector that are trailing market averages.
    • Earlier today, Stifel's Lindsay Piegza told Seeking Alpha that consumers are waiting for the proof of the Trump GDP breakout amid the reality of higher healthcare costs. At least for today, some investors may be doing the same.
    • Previously: Retail sales fall short of estimates (Jan. 13)
    • Previously: Stifel Nicolaus says consumers are waiting for the proof (Jan. 13)
    Fri, Jan. 13, 2:15 PM | 31 Comments
  • Fri, Jan. 13, 7:33 AM
    • BofA publishes its 2017 top retail hardline picks: HD, LOW, WHR, TPX, TSCO
    • “More bullish than ever” on home improvement.
    • Firm likes hardline retailers that are well-positioned to benefit from stronger GDP growth, lower taxes, structural tailwinds.
    • Notes Tempur Sealy, Tractor Supply have attractive turnaround stories.
    • Cautious on home furnishings and vitamins, minerals and supplements.
    • Downgrades DG and AAP to Neutral from Buy.
    • Most at risk from various taxing proposals: PIR, HOME, WSM, PRTY, BBY, BBBY, OLLI, MIK
    • In a note earlier this week, BarCap was bullish on "appliance and connected-home retailers" such as HD, BBY and LOW.
    Fri, Jan. 13, 7:33 AM | 3 Comments
  • Thu, Jan. 12, 1:54 PM
    • Cleveland Research sees Best Buy (BBY +1.4%) reporting Q4 comparable sales growth at the high end of its -1% to +1% guidance range.
    • The investment firm thinks Best Buy gained market share in home theater and computers during the holiday season.
    • Best Buy reports earnings on March 1.
    • Sources: Bloomberg and Nasdaq.com.
    Thu, Jan. 12, 1:54 PM | 2 Comments
  • Tue, Jan. 10, 10:44 AM
    • Best Buy (BBY +1.1%) responds to yesterday's story posted on Seeking Alpha indicating that some Geek Squad members may be moonlighting as FBI informants.
    • BBY statement: "Best Buy and Geek Squad have no relationship with the FBI. From time to time, our repair agents discover material that may be child pornography and we have a legal and moral obligation to turn that material over to law enforcement. We are proud of our policy and share it with our customers before we begin any repair. Any circumstances in which an employee received payment from the FBI is the result of extremely poor individual judgement, is not something we tolerate and is certainly not a part of our normal business behavior. To be clear, our agents unintentionally find child pornography as they try to make the repairs the customer is paying for. They are not looking for it. Our policies prohibit agents from doing anything other than what is necessary to solve the customer’s problem so that we can maintain their privacy and keep up with the volume of repairs."
    • Previously: Report: Some Geek Squad members moonlighting as FBI informants (Jan. 9)
    Tue, Jan. 10, 10:44 AM | 1 Comment
  • Mon, Jan. 9, 3:07 PM
    • Barclays walked away from CES "increasingly bullish" on appliance and connected home products.
    • The firm says the connected home industry is in its "early stages" of innovation, but is closing on an inflection point as personal assistants like Amazon Alexa hit the mainstream.
    • Retailers Home Depot (HD +0.5%), Best Buy (BBY +1.5%) and Lowe's (LOW +0.1%) could benefit as consumers start buying into the trend.
    • Source: Bloomberg
    Mon, Jan. 9, 3:07 PM | 2 Comments
  • Mon, Jan. 9, 1:56 PM
    • First Data reports that overall holiday spending increased 4.7%Y/Y in 2016.
    • For retail categories, the company says spending was up 3.6%,
    • Retail e-commerce transactions rose 12%. More than one fifth (21.3%) of all holiday spending was conducted online, a substantial increase from 15.4% last year.
    • Department store sales were down 4.8%.
    • Clothing and accessories saw modest growth of 0.1%.
    • Women’s ready-to-wear retailers saw a decline of 3.7%.
    • Electronics and appliances sales were up up 8.5%.
    • Related stocks: AMZN, EBAY, ETSY, BBY,
    • Related ETF: IBUY, XRT.
    • Source: Press Release
    Mon, Jan. 9, 1:56 PM | 8 Comments
  • Mon, Jan. 9, 11:10 AM
    • Some Best Buy (NYSE:BBY) employees are working as informants for the government, according to a report posted last week by OC Weekly.
    • While Geek Squad members are turning in evidence uncovered of child pornography as required by law, the report throws an uncomfortable spotlight on the policy of paying Geek Squad members to snoop for wrongdoing on customer computers.
    Mon, Jan. 9, 11:10 AM | 5 Comments
  • Fri, Jan. 6, 7:20 AM
    • RBC Capital Markets analyst Scot Ciccarelli warns that major retailers are in harm's way if the GOP-led border tax proposal is passed.
    • The combined hit to Wal-Mart (NYSE:WMT), Costco (NASDAQ:COST), Genuine Parts (NYSE:GPC), Best Buy (NYSE:BBY), Home Depot (NYSE:HD) and Dick's Sporting Goods (NYSE:DKS) could tally $13B, he estimates.
    • Hedgeye analyst Brian McGough sees apparel prices increasing 15% as a result of the tax.
    • Retailers that source their materials from within the U.S. would escape the pain.
    • ETFs: XLP, XLY, VDC, XRT, VCR, RTH, RETL, FXG, IYK, FXD, IYC, RHS, FDIS, PEJ, FSTA, PSL, SCC, RCD, UCC, PEZ, PMR, PSCC, UGE, PSCD, SZK, CNDF, CNSF, FTXD, JHMC, JHMS.
    Fri, Jan. 6, 7:20 AM | 42 Comments
  • Thu, Jan. 5, 1:02 PM
    Thu, Jan. 5, 1:02 PM | 8 Comments
  • Tue, Jan. 3, 1:13 PM
    • Loop Capital Markets reiterates its Buy rating on Best Buy (BBY -0.7%) on its view that store rationalization will pay off in the long term.
    • "We think store closures would drive improved sales productivity, four-wall contribution margins, returns on investment, and EPS accretion," writes analyst Anthony Chukumba.
    • "We think store closures would drive improved sales productivity, four-wall contribution margins, returns on investment, and EPS accretion," he adds.
    • Loop Capital's $58 price target on Best Buy is based off a 16.5x multiple of its FY17 EPS estimate.
    Tue, Jan. 3, 1:13 PM | 11 Comments
  • Dec. 14, 2016, 9:01 AM
    • Retail sales rose 3.8% on a year-over-year comparison.
    • A 12% increase in nonstore retailer sales and 6% rise in sales churned up by health and personal care stores (ULTA, SBH) , helped to offset the 6% drop in department store sales (KSS, JCP, [[DDS], M, JWN) and 4% tailoff in electronics and appliance store (BBY, HGG, CONN) sales.
    • Price deflation cut into grocery store (KR, SVU, IMKTA) sales growth. The category was up 0.1% M/M and 2.6% Y/Y.
    • Previously: Retail sales light for November (Dec. 14)
    Dec. 14, 2016, 9:01 AM | 6 Comments
  • Dec. 7, 2016, 7:44 AM
    • Loop Capital picks out some favorites in the retail sector.
    • The boutique investment firm assigns new Buy ratings to Best Buy (NYSE:BBY), Big Lots (NYSE:BIG), Five Below (NASDAQ:FIVE), and GameStop (NYSE:GME).
    • Loop price targets: BBY $58 (+24% upside), BIG $64 (+18% upside), FIVE $64 (+48% upside), GME $32 (+28% upside).
    Dec. 7, 2016, 7:44 AM | 5 Comments
  • Nov. 30, 2016, 2:14 PM
    • Retail Metrics: The retail industry specialist expects chain stores to report a 1.1% increase in comparable sales during November. The estimate on October retail comparable sales was revised up to 1.5% from 1.0%. Both marks arrive against a deflation and low traffic headwind in the sector.
    • NPD Group: The research firm plays meteorologist by warning that the lack of "true" winter weather will hit some apparel and shoe sellers.
    • FBR Capital: The firm points to a strong month for Bath & Body Works (NYSE:LB).
    • Piper Jaffray: The retail analyst team is cautiously optimistic that Costco (NASDAQ:COST) is off to a good start.
    • November has been a stellar month for Target (NYSE:TGT) and Best Buy (NYSE:BBY), up 16% and 18% respectively. Both retailers trade with a ~14 forward PE ratio which has some traders buzzing that's still room left to run.
    • Amazon dominated a lot of the Black Friday and Cyber Monday talk, but it was Wayfair (W +4.6%) that may have posted the most impressive online sales growth vs. expectations. Shares of Wayfair are still 28% below their 52-week high, although valuation isn't for the feint of heart.
    • At home on Seeking Alpha, there's been some good discusssion on the impact of the reduction of SNAP benefits (nutrition assistance) in the U.S. on the retail sector. Tomorrow's earnings report from Dollar General (NYSE:DG) and the firm's conference call Q&A could shine a light on that wildcard.
    • Retail ETFs: XLY, XRT, VCR, RTH, RETL, FXD, FDIS, RCD, PMR, CNDF, FTXD, JHMC, IBUY.
    • Previously: Black Friday channel checks show pockets of strength (Nov. 28)
    • Previously: Department store sales in positive territory for November (Nov. 29)
    • Previously: Cyber Monday wrap and retail outperformers (Nov. 29)
    Nov. 30, 2016, 2:14 PM | 3 Comments
  • Nov. 29, 2016, 10:06 AM
    • Cyber Monday online sales increased 12.1% to $3.45B, according to an updated tally from Adobe.
    • Mobile spending was up 34% Y/Y to $1.07B to account for 31% of sales.
    • Conversion rates were highest for desktops at 6.3%, while smartphones (2.8%) and tablets (5.1%) were still above holiday averages.
    • Holiday shopping season sales through November 28 are up 7.6% to $39.97B.
    • The S&P Retail ETF (NYSEARCA:XRT) is up 1.81% over the last week to outpace broad market averages. The list of outperformers over the last week -- which factors in the pre-Thanksgiving buzz, Black Friday reports, and Cyber Monday numbers -- includes Target (NYSE:TGT), Wal-Mart (NYSE:WMT), Hasbro (NASDAQ:HAS), Mattel (NASDAQ:MAT), Staples (NASDAQ:SPLS), DSW (NYSE:DSW), Barnes & Noble (NYSE:BKS), Dollar Tree (NASDAQ:DLTR), Dollar General (NYSE:DG), Burlington Stores (NYSE:BURL), The Children's Place (NASDAQ:PLCE) and Best Buy (NYSE:BBY). An interesting sidenote is that all the retail names listed above topped the return of Amazon for the 5-session period.
    Nov. 29, 2016, 10:06 AM | 14 Comments
  • Nov. 18, 2016, 8:09 AM
    • Best Buy (NYSE:BBY) declares $0.28/share quarterly dividend, in line with previous.
    • Forward yield 2.44%
    • Payable Dec. 29; for shareholders of record Dec. 8; ex-div Dec. 6.
    Nov. 18, 2016, 8:09 AM
  • Nov. 17, 2016, 1:39 PM
    • Best Buy (BBY +11.7%) rallies to its highest share price since 2010, touching $45.39 at its high point just minutes ago.
    • Raymond James was the investment firm that came into the report with a Strong Buy rating on the retailer. The recent quarter supports RJ's theme that Best Buy's margins will continue to improve due to tight expense control.
    • Keybanc notes that growth in home theater, mobile phones, wearables and connected home was offset in part by a decline in gaming.
    • Source: Bloomberg
    • SA contributor Taylor Dart is also in with a Best Buy earnings breakdown.
    Nov. 17, 2016, 1:39 PM