Best Buy Co. (BBY) - NYSE
  • 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
  • Aug. 6, 2013, 1:49 PM
    • Employees at Best Buy's (BBY +0.5%) corporate headquarters are probably a bit skittish today with the retailer's tendency to lay off employees in a regular pattern leading to the second day of the week being called "Termination Tuesday."
    • The company has been trimming its payroll in a slow burn that could be motivating by avoiding mass-layoff reporting, according to the Minneapolis/St. Paul Business Journal.
    | Aug. 6, 2013, 1:49 PM | 4 Comments
  • Aug. 6, 2013, 1:44 PM
    • Big box retailers Best Buy (BBY +0.3%), hhGregg (HGG +0.4%), and Conn's (CONN +1.1%) all buck a weak trend for retail stocks to trade with minor gains.
    • A decent reading on chain store sales might be helping to tip sentiment.
    | Aug. 6, 2013, 1:44 PM
  • Jul. 25, 2013, 3:03 PM

    Best Buy (BBY +1.3%) appoints Chris Askew as the top exec for its Geek Squad unit. The Geek Squad saw sales decline Y/Y in Q1 despite a company-wide pickup in revenue. Askew's most previous experience was at NCR where he was a senior vice president.

    | Jul. 25, 2013, 3:03 PM | 1 Comment
  • Jul. 19, 2013, 8:31 AM

    Jefferies hikes its price target on a "transitioning" Best Buy (BBY) from $31 to $35 representing a 21% upside from Thursday's close as analyst Daniel Binder weighs in on the Q2 outlook for retailers following perceived "strength on pent-up demand" in May and early June. Binder says HD and LOW "look strongest" while KSS and DLTR "could get to the high end of plan [and] WMT should show improvement in food."

    | Jul. 19, 2013, 8:31 AM
  • Jul. 10, 2013, 10:02 AM
    Shares of Best Buy (BBY -5.1%) wilt in early trading. Technical traders are saying the stock hit technical resistance at $30 while the fundamental side points to cautious comments from analysts on the retailer.
    | Jul. 10, 2013, 10:02 AM
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