Best Buy Co. (BBY) - NYSE
  • Oct. 10, 2013, 9:47 AM
    • Shares of Best Buy (BBY +7.6%) start the day off with a bang.
    • The company hasn't released any news, but the word on the street is that ITG is putting out a positive note on the retailer's sales trends.
    | Oct. 10, 2013, 9:47 AM | 4 Comments
  • Oct. 10, 2013, 8:08 AM
    • Best Buy (BBY) is about to launch a trade-in promotion whereby customers can swap an old smartphone for a $100 gift card that can be used toward the purchase of a new iPhone, according to a screenshot posted by TechnoBuffalo.
    • Is there a flaw in the promotion? 9to5Mac wonders why an iPhone owner can't grab a cheap Virgin smartphone for around $50 then trade it in for the credit on the new iPhone 5c while keeping the old iPhone in the process.
    • Best Buy has been coy in the past about margins on its iPhone offers.
    | Oct. 10, 2013, 8:08 AM
  • Oct. 5, 2013, 9:00 AM
    • "We're making it up as we go along," says Wedbush's Michael Pachter, trying to model estimates amid Amazon's (AMZN) famous lack of detail regarding the costs of ventures like cloud-computing, Kindle, and same-day delivery of groceries. "Revenues are growing quickly so there's progress, but what are the costs for all these businesses? You tell me."
    • That investors give a free pass to nearly-profitless Amazon is great for consumers and bad news to the owners of companies like Netflix (NFLX), Best Buy (BBY), Staples (SPLS), RadioShack (RSH), Wal-Mart (WMT), and even Kroger (KR). But what happens to Amazon once the pass is revoked?
    • Analysts willing to venture a guess see earnings of $10.61 per share in 2016. To hit it, Amazon would need to continue to grow revenues at more than a 20% annual pace while expanding operating margins to 4% from 1% now. Plausible? Sure. But if the stock were to climb 10% per year over the next three, shares for the far more mature company would still trade at 40x those hopeful earnings.
    | Oct. 5, 2013, 9:00 AM | 36 Comments
  • Oct. 4, 2013, 7:30 AM
    • Best Buy (BBY) hopes a new iPhone offer will increase foot traffic and sales at its stores.
    • The retailer starts a promotion today in which customers who buy a $99.99 iPhone 5C will receive a $50 gift card.
    | Oct. 4, 2013, 7:30 AM
  • Sep. 17, 2013, 8:22 AM
    • ShopperTrak estimates holiday season retail sales will rise 2.4% Y/Y on lower store traffic.
    • The firm sees electronics and appliance-store sales (BBY, CONN, HGG) outperforming, while retailers with strong e-commerce integration (M, GPS, URBN), could hold up better than peers.
    • A calendar shift this year reduces the number of shopping days between Black Friday and Christmas to 25, putting pressure on superstores (WMT, TGT, COST) to ring up sales during the shortened period.
    • Related ETFs: XRT, RTH, PMR, RETL.
    | Sep. 17, 2013, 8:22 AM | 1 Comment
  • Sep. 17, 2013, 4:44 AM
    • U.S. retail store sales are expected to slow to +2.4% during November and December from +3% last year and +4% in 2011, research firm ShopperTrak has estimated.
    • Store visits are forecast to drop 1.4% after rising 2.5% in 2012.
    • "Although the economy continues to recover slowly, consumers remain cautious about spending and are not ready to splurge," ShopperTrak founder Bill Martin said.
    • It's worth noting that online sales - accounting for 7% of the total - aren't included in the projections, while ShopperTrak forecasts tend to undershoot.
    • Related tickers: COST, WMT, SHLD, M, JCP, TGT, BBY, ODP, BBBY, SPLS, OMX.
    | Sep. 17, 2013, 4:44 AM
  • Sep. 11, 2013, 11:25 AM
    • Growing confidence in Best Buy's (BBY -0.3%) turnaround strategy under CEO Hubert Joly has helped to boost the company's share price by +200% YTD, but analysts see plenty of upside still left if Joly keeps pulling the right levers.
    • Best Buy trades at a 17% discount to the average price-earnings ratio in the sector despite its runup.
    | Sep. 11, 2013, 11:25 AM
  • Sep. 11, 2013, 7:13 AM
    • Best Buy (BBY) CEO Hubert Joly sold stock in the company worth $10.4M this month.
    • The insider sale is no cause for alarm with the executive needing to cover the high costs of a divorce.
    • SEC Form 4
    | Sep. 11, 2013, 7:13 AM
  • Aug. 28, 2013, 10:50 AM
    • Retail traffic to U.S. stores has declined in 8 out of the last 10 weeks, according to data compiled from ShopperTrak.
    • Though a few on-trend firms such as Michael Kors (KORS +0.1%) and Express (EXPR +8.5%) are still firing on all cylinders, and a heat wave in the Midwest has had an effect, the overall trend for the back-to-school season and holiday season looks weak.
    • Analysts also think consumers are likely to pick up their reliance on deals as discretionary spending on housing and automobiles "crowds out" normal outlays.
    • Related ETFs: XRT, RTH, PMR, RETL.
    • Related stocks: APP, AEO, ANF, AZO, BBBY, BBY, BJ, CHS, COH, COST, DG, FDO, FL, GPS, HD, JCP, JNY, JWN, KSS, LTD, LULU, M, NDN, ODP, ORLY, PIR, RGS, RL, SKS, SPLS, TGT, TIF, TJX, UA, UNFI, URBN, VFC, WMT, WRC, ZLC.
    | Aug. 28, 2013, 10:50 AM
  • Aug. 27, 2013, 8:30 AM
    • Shares of Best Buy (BBY) fall 2% premarket after founder Richard Schulze unveils his plan to sell an undisclosed amount of stock.
    • Analysts think the action by Schulze is based on the nice runup in Best Buy's share price and shouldn't be a major factor in the direction of the retailer.
    | Aug. 27, 2013, 8:30 AM | 1 Comment
  • Aug. 26, 2013, 6:29 PM
    • The Best Buy (BBY) founder/20% shareholder says the sales, which will be made through a Rule 10b5-1 trading plan, are "part of his personal long-term strategy for asset diversification and liquidity." (8-K)
    • Schulze returned to the struggling electronics chain as Chairman Emeritus in March, after giving up efforts to acquire the company (or at least a sizable minority stake).
    • BBY -1% AH.
    | Aug. 26, 2013, 6:29 PM | 2 Comments
  • 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
Company Description
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
Sector: Services
Industry: Electronics Stores
Country: United States