Best Buy: A Solid Buy As The Recovery Continues
Helix Investment Research
Helix Investment Research
Best Buy Continues To Show Progress
Best Buy's Dip Is A Great Opportunity
Saj Karsan • 72 Comments
Saj Karsan • 72 Comments
Mon, Apr. 11, 9:38 AM
- Best Buy's (BBY +0.8%) Geek Squad will hit the streets this week with a new fleet of one thousand Toyota Prius C hybrids.
- The company says the Geek squad drives about 12M miles a year which makes the Prius an attractive option.
- A new Geek Squad logo will adorn the Prius fleet.
- Now read Best Buy CEO Hubert Joly on plans for the Geek Squad
Fri, Apr. 8, 8:14 AM
- Best Buy (NYSE:BBY) rolled out same-day delivery at more than a dozen large cities this week as the retailer take another step toward competing on even ground with Amazon.
- The company is partnering with startup Deliv on the initiative. Prices range from $10 to $20 for each customer order.
- The list of products available for same-day delivery is broader than what most store chains are offering, according to the Minneapolis/St. Paul Business Journal.
- An interesting factoid: 70% of all Americans live within 15 minutes of a Best Buy store.
- Now read Best Buy: Expect Higher Capital Returns Ahead
Thu, Mar. 31, 12:26 PM
- Barclays is extremely active in the retail sector today. Earlier the investment firm issued negative notes on Target and Willams-Sonoma which helped send both stocks lower, but the new round of ratings actions are mostly less bearish.
- Home Depot (HD +0.5%), Best Buy (BBY +4.1%), AutoZone (AZO -0.6%), and O'Reilly Automotive (ORLY -0.6%) are both initiated with Overweight ratings.
- Party City (PRTY -0.9%), Restoration Hardware (RH +4.8%), and The Container Store (TCS -3.6%) are all started at Equalweight.
- Advance Auto Parts (AAP -0.9%) is assigned an Underweight rating and $130 price target.
- While Barclays picks and chooses between retailers on differentiation with valuation, F/X exposure, and demand trends - on a broader scale the question of when the U.S. consumer will step it up remains unanswered.
- Now read U.S. Consumer Spending And Income Growth Slow In February
Tue, Mar. 15, 8:17 AM
- Best Buy (NYSE:BBY) announces the exit of former CEO Brad Anderson from the board. Anderson was the head honcho at the retailer from 2002 to 2009.
- Venture capital specialist Claudia Fan Munce will replace Anderson. Munce spent 30 years at IBM before moving to New Enterprise Associates earlier this year.
Thu, Feb. 25, 10:59 AM
- Target (TGT +0.3%) outperformed Wal-Mart during Q4 and took some important ground from Amazon in what most retail watchers are calling an impressive quarter.
- Store traffic was up 1.3% to almost double Wal-Mart's (WMT +1%) pace, while digital sales rose at a faster rate than what the e-commerce beast from Seattle posted. Even with promotions dialed up and the higher e-commerce mix, margins held up better at Target than some analysts expected.
- Target's results were strong enough to induce Cowen and Company to boost its price target to $86 and back its Outperform rating.
- What to watch: Target may have set a road map for other retail chains (BBY, JCP, KSS, SPLS, JWN, DDS, M) to follow in their bid to compete with Amazon by fulfilling 30% of all online orders directly from their stores in an efficiency play.
- The Amazon vs. the brick-and-mortar world question is part of today's Seeking Alpha Market Challenge
Thu, Feb. 25, 7:29 AM
- Comparable-store sales declined 1.7% for Best Buy (NYSE:BBY) in FQ4.
- International sales sunk 26.1% to $1.1B (F/X impact -1350 bps). International gross profit rate +40 bps to 22.1%.
- Domestic segment revenue -1.5% to $12.5B. Domestic online sales rose 13.7% to $1.95B to account for 15.6% of all sales.
- Consolidated gross profit rate +40 bps 21.7%. Consolidated operating income flat at 5.7%.
- Guidance: Best Buy expects FQ1 EPS of $0.31-$0.37 vs. $0.39 consensus.
- Previously: Best Buy announces $1B buyback and special dividend (Feb. 25 2016)
- Previously: Best Buy beats by $0.14, revenue in-line (Feb. 25 2016)
- BBY -3.34% premarket to $30.42.
Thu, Feb. 25, 7:21 AM| Thu, Feb. 25, 7:21 AM
Thu, Feb. 25, 7:17 AM
Thu, Feb. 25, 7:03 AM
Wed, Feb. 24, 5:30 PM
- AAON, ACIW, AG, ALKS, AMCX, AMRN, AMWD, ANSS, APA, APLP, AROC, BBY, BUD, CCOI, CHS, CLDX, CM, CNSL, CORE, CPB, CPK, CRI, CVC, DPZ, EGRX, EME, EMES, ENOC, FCH, FCN, FIG, GLOG, GOGO, GTLS, GVA, HBM, HEES, HMHC, HTWR, INCR, IONS, IRDM, IRM, ITC, KERX, KOP, KSS, LKQ, MITL, NEWM, NPO, [[NTi]], NXST, PCRX, PDCO, PF, PGTI, PRIM, PWR, RDUS, RGEN, RRD, RWLK, SAFM, SDRL, SEAS, SERV, SFM, SFUN, SHLD, SPAR, STWD, TD, TFX, TREE, TWI, UNT, UTHR, VAC, VC, VWR, W, WIN, WNR, WNRL, WPC, XCRA, ZBRA, ZEUS
Wed, Feb. 3, 2:24 PM
- J.C. Penney (JCP +3.2%) is testing appliance advertisements in three markets as it preps for a national roll-out.
- One spot features a woman receiving clever advice from a smartphone on where she should buy a washing machine.
- The company's return to appliances isn't half-fast with over 150 different models of washers, dryers, and other appliances from major brands anticipated.
- J.C. Penney's initiative could put some pressure on Best Buy (BBY -0.7%) which has increased its appliances market share over the last few years.
- Previously: J.C. Penney on watch with Piper gushing (Feb. 02 2016)
Tue, Jan. 26, 1:18 PM
- Mall stocks are solidly ahead of broad market averages as investors key off today's strong read on consumer confidence. A decent report from Redbook on chain store sales is also in the mix.
- Gap (GPS +4.7%), American Eagle Outfitters (AEO +4.8%), Tilly's (TLYS +5.8%), Children's Place (PLCE +4.5%), Buckle (BKE +5.3%), and Urban Outfitters (URBN +3.7%) are all taking back ground lost earlier this year.
- The gains are slightly less for department store chains J.C. Penney (JCP +2.4%), Kohl's (KSS +2.6%), and Macy's (M +2.7%).
- Best Buy (BBY +3.5%) and Target (TGT +2.3%) are also trying to break out.
- Previously: Consumer confidence improves 1.8 points in January (Jan. 26)
- Previously: Weather plays a mixed role (Jan. 26)
Tue, Jan. 19, 8:21 AM
- Morgan Stanley turns cautious on a trio of retail stocks after digesting holiday sales reports.
- Best Buy (NYSE:BBY), Party City (NYSE:PRTY), and Sally Beauty Holdings (NYSE:SBH) are all moved to Equal Weight from Overweight due to a "lack of catalysts" in play.
- All three stocks are down in 2016 amid the broad market decline, with Party City off to the weakest start at -17% YTD.
Thu, Jan. 14, 1:19 PM
- Best Buy (BBY -9.2%) fell to a 52-week low after the company's report on holiday sales failed to please investors.
- The retailer's weak performance in key categories seems to have added another layer of anxiety to trading around GameStop (GME -5.6%) which is also at a 52-week low.
- Hhgress (HGG) dropped below the $2 mark to set a 52-week low.
- Brick-and-mortar mainstay Barnes & Noble (BKS +1.6%) etched out a new 52-week low this morning before recovering.
- Previously: Best Buy lower after holiday numbers underwhelm (Jan. 14 2016)
Thu, Jan. 14, 9:16 AM
Thu, Jan. 14, 7:12 AM
- Best Buy (NYSE:BBY) reports comparable-store sales fell 1.2% during the holiday season.
- Total revenue in the domestic segment was down 0.8% to $10.05B as a weak performance in the mobile phone category impacted results. Categories with strength included wearable technology, home theater, and appliances.
- Online comparable-store sales rose 12.6% during the two-month period.
- Best Buy expects a 1.5% Y/Y decline in domestic revenue during Q4. International revenue is seen falling 30%.
- BBY -4.37% premarket to $28.00.
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
Industry: Electronics Stores
Country: United States
Other News & PR