Best Buy Co.

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  • Aug. 26, 2013, 10:46 AM
    | Aug. 26, 2013, 10:46 AM
  • Aug. 23, 2013, 12:21 PM
    • Time Warner Cable (TWC -0.6%) says subscribers in New York, Los Angeles, and Dallas can receive free indoor antennas at TWC retail locations or receive a $20 credit that will be able to be used at Best Buy (BBY +1%) locations.
    • The move give the cable operator a little bit of leverage as the NFL season approaches, although stepping over the gridiron Rubicon is still considered an unwise move by media analysts.
    | Aug. 23, 2013, 12:21 PM
  • Aug. 22, 2013, 12:24 PM
    • Tech pundit and Google Glass evangelist Robert Scoble reports hearing Google (GOOG +0.3%) is planning to rent 6K sq. feet worth of space at every Best Buy (BBY +2.8%) store next year to promote Google Glass.
    • Is Scoble's source off by a decimal? Best Buy's stores have 20K-45K sq. feet of floor space (inc. register aisles and everything else). If the rumor is true, Google would be renting 13%-30% of available space.
    • Regardless, Best Buy appears to be getting a lift from the rumor, as is Glass microdisplay supplier Himax (HIMX +3%).
    • Google already has a Chromebook marketing partnership with Best Buy.
    | Aug. 22, 2013, 12:24 PM | 9 Comments
  • Aug. 21, 2013, 4:01 PM
    • S&P affirms Best Buy (BBY) at BB and raises its outlook on the company to Stable from Negative.
    • "Downside risk has moderated," the ratings agency says, adding that "sales trends should improve modestly" going forward.
    • In a fine example of stating the obvious, S&P says it would be inclined to raise its rating on the company if BBY grows sales and profits "meaningfully and sustainably." (full note)
    | Aug. 21, 2013, 4:01 PM
  • Aug. 21, 2013, 12:22 PM
    • Wal-Mart (WMT -0.1%) eliminates a $5 fee to participate in its layaway program to fire one of the first shots of the holiday season promotional battles in retail.
    • The company's layaway program will run from September 13 to December 13.
    • Other retailers such as K-Mart (SHLD), Toys R Us, and Best Buy (BBY -1.9%) are likely to match Wal-Mart's layaway offer.
    | Aug. 21, 2013, 12:22 PM
  • Aug. 21, 2013, 9:03 AM
    • Best Buy Co. (BBY) declares $0.17/share quarterly dividend, in line with previous.
    • Forward yield 1.95%
    • Payable Oct. 1; for shareholders of record Sept. 10; ex-div Sept. 6.
    | Aug. 21, 2013, 9:03 AM
  • Aug. 21, 2013, 7:37 AM
    • Jefferies thinks Best Buy (BBY) management's turnaround plan is gaining credibility with each passing quarter.
    • Improved margins are a major focus, although Q4 will be the "defining quarter" for the company.
    • The investment firm adds $5 to its price target to take it to $40 and boosts FY13 and FY14 EPS estimates.
    | Aug. 21, 2013, 7:37 AM
  • Aug. 20, 2013, 2:57 PM
    • Shares of hhgregg (HGG +3.1%) and Conn's (CONN +2.9%) trade higher after Best Buy (BBY +12%) grows profits at a decent clip in Q2.
    • The big box retailers have had some success cutting costs and shifting their mix toward higher-margin appliance products.
    | Aug. 20, 2013, 2:57 PM
  • Aug. 20, 2013, 2:53 PM
    • "While shares are not expensive, they are also no longer trading at a significant discount," KeyBanc's Bradley Thomas says, regarding the rally in Best Buy (BBY +12.5%) following Q2 results.
    • Despite losing its bargain status, the shares may still be worth a look, as Thomas notes that "new product launches in H2, as well as the Samsung Experience and other space optimization efforts could drive improved revenue trends in coming quarters."
    • KeyBanc's FY14 EPS estimate is hiked to $2.42 from $2.25. Consensus is $2.20.
    | Aug. 20, 2013, 2:53 PM
  • Aug. 20, 2013, 9:11 AM
    | Aug. 20, 2013, 9:11 AM
  • Aug. 20, 2013, 7:26 AM
    • Best Buy (BBY) beats estimates as strong online sales helped make up for a slip in comparable store sales.
    • Despite not putting in a powerhouse quarter, substantial forward progress was made by Best Buy. In the U.S., comp sales were down 0.4% vs. -1.1% prior. Costs and the impact of a new pricing strategy were also better than anticipated.
    • Mobile phone and appliances were strong categories during Q2. (PR)
    • BBY +10.4%
    | Aug. 20, 2013, 7:26 AM
  • Aug. 20, 2013, 7:06 AM
    • Best Buy (BBY): Q2 EPS of $0.32 beats by $0.20.
    • Revenue of $9.30B beats by $0.17B. (PR)
    | Aug. 20, 2013, 7:06 AM
  • Aug. 20, 2013, 12:05 AM
  • Aug. 19, 2013, 5:30 PM
    | Aug. 19, 2013, 5:30 PM
  • Aug. 16, 2013, 9:36 AM
    • Best Buy (BBY -0.3%) launches a new trade-in deal for iPhone owners.
    • An iPhone 4S can be swapped for a $200 gift card and an iPhone 4 will fetch a $100 credit on a gift card or new iPhone 5 purchase, according to the retailer's website.
    | Aug. 16, 2013, 9:36 AM | 1 Comment
  • Aug. 15, 2013, 9:08 AM
    • U.S. District Court Judge Richard Leon gives the Federal Reserve one week to decide how much time it will need to rewrite rules on how much merchants can charge retailers for swipe fees on debit cards.
    • The judge didn't show a lot of deference to the central bank, telling officials to cut their vacation short to make it happen.
    • "We're not putting a man on the moon here," notes Leon.
    • An ultimate decision in the case could be appealed, but will have big implications at some point for banks and payments companies (V, MA) - as well as swipe-heavy retailers (SBUX, TGT, BBY).
    | Aug. 15, 2013, 9:08 AM | 9 Comments
Company Description
Best Buy Co Inc is a retailer of technology products, including tablets and computers, televisions, mobile phones, large and small appliances, entertainment products, digital imaging and related accessories.
Sector: Services
Country: United States