Best Buy Co.NYSE
Wed, Nov. 30, 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)
Tue, Nov. 29, 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.
Fri, Nov. 18, 8:09 AM
Thu, Nov. 17, 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.
Thu, Nov. 17, 12:18 PM
- In no surprise, the list is dominated by the ripping financial sector:
- Allstate (ALL +1.4%)
- Ameriprise (AMP +0.2%)
- TD Ameritrade (AMTD +1.6%)
- BB&T (BBT +2.1%)
- Citigroup (C +2.4%)
- Citizens Financial (CFG +2%)
- Comerica (CMA +1.5%)
- CNA Financial (CNA +0.6%)
- Loews Corp. (L +0.9%)
- Marsh & McLennan (MMC +1.9%)
- PNC Financial (PNC +2.6%)
- Royal Bank of Canada (RY +0.7%)
- U.S. Bancorp (USB +1.9%)
- Aetna (AET +1.5%)
- Best Buy (BBY +10.4%)
- CBS (CBS +0.6%)
- Celanese (CE +0.1%)
- Comcast (CMCSA +1.5%)
- Dell Technologies (DVMT +1.1%)
- The Gap (GPS +0.4%)
- Humana (HUM +1.4%)
- KLA-Tencor (KLAC +2.7%)
- Liberty Media (LMCA +1.6%)
- Lam Research (LRCX +1.9%)
- Micron (MU +5.3%)
- Nvidia (NVDA +2.7%)
- Rockwell (ROK -0.5%)
- Teck Resources (TCK +0.5%)
- Texas Instruments (TXN +1.1%)
- New lows:
- Novo Nordisk (NVO +0.3%)
Thu, Nov. 17, 9:20 AM
- Gainers: RLOG +121%. SINO +99%. GSL +94%. DCIX +32%. NMM +32%. ESEA +24%. TOPS +22%. WNR +22%. NM +22%. NAO +19%. SB +18%. ANW +17%. PANL +16%. SHIP +12%. NTAP +12%. HAIN +11%. GLBS +11%. UAM +11%. GURE +10%. PLCE +8%. NNA 8%. BBY 8%. INCY 6%. RCON 6%. PLUG 6%. GNK 6%. ENDP 6%.
- Losers: LEI -26%. VUZI -18%. SPP -18%. NVTA -14%. FSLR -12%. ZX -10%. TEGP -10%. SSI -9%. STEM -8%. FOXF -8%. TTMI -7%. PFGC -6%.
Thu, Nov. 17, 7:22 AM
- Best Buy (NYSE:BBY) reports U.S. same-store sales increased 1.8% in Q3 to top the mark expected by analysts. Growth in home theater, mobile phones, wearables and connected home was partially offset by a fall in gaming.
- Online sales were up 25% in the U.S. during the quarter.
- International sales increased 3.3% Y/Y to $753M.
- Non-GAAP operating income as a percentage of sales improved 80 bps to 3.6%.
- Best Buy expects Q4 EPS of $1.62-$1.67 vs. $1.58 consensus.
- Previously: Best Buy beats by $0.15, beats on revenue (Nov. 17)
- BBY +8.78% premarket to $44.00 (52-week high territory).
Thu, Nov. 17, 7:02 AM
Wed, Nov. 16, 5:30 PM
Wed, Nov. 16, 3:25 PM
- 52-week highs on 1.5x or more normal volume:
- Allison Transmission (ALSN +3.1%)
- Autodesk (ADSK +3.5%)
- Best Buy (BBY +1.6%)
- CDW Corp. (CDW +2.7%)
- CommScope (COMM +0.7%)
- Greif (GEF +4%)
- Hubbell (HUBB -0.2%)
- MSC Industrial (MSM +0.4%)
- Nvidia (NVDA +6.3%)
- 52-week lows on 1.5x or more normal volume:
- Turkcell (TKC -1%)
Fri, Nov. 11, 9:51 AM
- The setup for Best Buy (NYSE:BBY) this quarter is "vastly different" than the previous one, says UBS's Michael Lasser, reiterating his Neutral rating on the stock. The shares have put in a big rally, expectations have picked up, and industry data has improved - that's a lot of good news baked in.
- No details yet, but the typically reliable Marc Lehman says there's a sell recommendation and $28 price target out this morning from a boutique shop.
- Shares -5.25% to $37.88.
- Update at 10:18: Off Wall Street is the "boutique shop," and the team there expects BBY to miss expectations on TV and smartphone sales. The stock's currently lower by 3.85%.
Thu, Oct. 27, 9:47 AM
- There's some mind-blowing numbers out on e-commerce as part of the 2016 Adobe holiday season forecast.
- E-commerce sales are expected to increase 11% this year to $91.6B. Though the pace is slower than what was seen in some recent years, it still triples the overall growth rate in retail.
- Cyber Monday is set to be the largest online shopping day of all time, with $3.36B in sales anticipated.
- Large retailers are seen outpacing smaller retailers by a wide margin, 17% growth vs. 7% growth. That means more market share for Amazon (NASDAQ:AMZN), Wal-Mart (NYSE:WMT), Target (NYSE:TGT), Best (NYSE:BBY) and Staples (NASDAQ:SPLS) in comparison to chains which already have a harder time leveraging their shipping costs.
- Adobe says hot gifts this year will include virtual reality devices, Pokemon, Barbie, Lego, Hot Wheels and Frozen toys.
- A stretching out of the holiday season from early October until past Christmas could help FedEx (NYSE:FDX) and UPS (NYSE:UPS) manage the logistics more efficiently.
- Related stocks: SNE, HAS, MAT, NILE, EBAY, DIS.
- Related ETFs: IBUY, XRT.
- Full Adobe report
Tue, Oct. 25, 10:58 AM
- Best Buy (BBY -1.1%) announces that it won't charge customers for shipping on all online orders executed through December 24.
- The company had the same margin-pinching policy last year amid intense competition for holiday season sales.
- Interestingly, Best Buy didn't wait to see what Target and Wal-Mart will do with shipping fees this year before pulling the trigger.
- Source: Press Release
Thu, Oct. 20, 10:07 AM
- Google's (GOOG, GOOGL) getting more involved in the art of physically displaying and demonstrating hardware products, setting up shop in its own space in SoHo and within specially-designed areas at select Best Buy Canada (BBY +0.8%) stores as of today.
- Although Google doesn't span the globe with well-designed physical locations as does its target rival (NASDAQ:AAPL), these initial moves to showcase its new hardware portfolio could mark a sign of others to come.
- Made by Google (96 Spring Street), Pixel
- Earlier in the week: Google Pixel reviews overall positive ahead of release
Wed, Oct. 12, 11:29 AM
- Cleveland Research is positive on Best Buy (BBY +3.2%) in the near term.
- The equity research firm expects the retailer to report Q3 U.S. comparable sales growth of 1.8% vs. 1.0% consensus. An EPS beat is also in the cards for Best Buy ($0.50 vs. $0.47 consensus), forecasts analyst Daryl Boehringer.
- Best Buy isn't due to report earnings on November 17.
- Shares of Best Buy are up 26% over the last 90 days.
Thu, Oct. 6, 9:40 AM
- Wal-Mart (NYSE:WMT) management is talking quite a bit about e-commerce during its Investment Community presentation.
- While that's not a surprise, there's still an underlying tone that the company's strategy is to ride out the extra costs of tech and e-commerce investments in order to adapt and evolve.
- "We’re moving with speed to position the company to win the future of retail," noted CEO Doug McMillon. He also said point blank that the world's largest retailer is going to look more like an e-commerce company over time. That's a stipulation that may have been inconceivable three or four years ago.
- Keeping with the e-commerce theme, guidance on store openings for the next two years was on the light side.
- Naturally, the $3B acquisition of Jet.com was a talking point
- The retailer also disclosed in a SEC filing yesterday that it has increased its position in JD.com to 10.8% of the shares that don't have voting power.
- Shares of Wal-Mart are down 2.69% in early trading after the company's guidance came in below expectations.
- The all-in bet by Wal-Mart on e-commerce has implications for other online sellers such as Target (NYSE:TGT), Staples (NASDAQ:SPLS), Best Buy (NYSE:BBY) and (of course) Amazon (NASDAQ:AMZN).
- Previously: Wal-Mart execs in the spotlight at investment meeting (Oct. 6)