Best Buy Co. (BBY) - NYSE
  • Mar. 29, 2012, 10:00 AM
    Positive early reaction to Best Buy's (BBY -6.2%) Q4 report gives way to negative sentiment, as the stock is now the S&P's biggest loser. Focus apparently shifted away from the introduction of cost-cutting steps to same-store sales, which fell 2.4%, and flat gross margin. FY 2013 guidance has EPS $3.50-$3.80 vs. $3.70 consensus, revenues $50B-$51B vs. $51.84B consensus.
    | Mar. 29, 2012, 10:00 AM | 1 Comment
  • Mar. 29, 2012, 9:15 AM

    Premarket gainers: PSS +11%. RHT +7%. THLS +6%. ILMN +4%. ZLCS +3%. HERO +3%. BNNY +3%.
    Losers: CHTP -29%. NBG -6%. NCT -5%. JBLU -4%. BBY -4%. ATPG -3%. ONTY -3%. MTL -3%. ING -3%. BCS -3%. VVUS -3%. ARNA -3%. TOT -3%.

    | Mar. 29, 2012, 9:15 AM
  • Mar. 29, 2012, 8:15 AM

    More on Best Buy's (BBY) Q4: Domestic segment online revenue grew 21% Y/Y. Tablets and eReaders comparable store sales each increased low triple-digits in U.S. Plans to make $850M in cost reductions by FY15, including closing 50 big box stores in FY13. Will open 100 small format stand-alone mobile stores. Sees FY13 sales of $50B-$51B and EPS of $3.50-$3.80. Shares +4.6% premarket. (PR)

    | Mar. 29, 2012, 8:15 AM
  • Mar. 29, 2012, 8:11 AM
    Best Buy (BBY): Q4 EPS of $2.47 beats by $0.31. Revenue of $16.6B (+3% Y/Y) misses by $620M. Shares +3.3% premarket. (PR)
    | Mar. 29, 2012, 8:11 AM
  • Mar. 29, 2012, 12:05 AM
    Notable earnings before Thursday's open: BBY
    | Mar. 29, 2012, 12:05 AM
  • Mar. 28, 2012, 5:30 PM
    Notable earnings before Thursday's open: BBY
    | Mar. 28, 2012, 5:30 PM
  • Mar. 28, 2012, 12:00 PM

    UBS reiterates a Neutral rating on shares of Best Buy (BBY -0.9%) while hiking its price target to $27 from $25, writing the retailer must get more aggressive in its restructuring efforts to boost profit. BBY plans to cut its big-box square footage by 10%, but it should double that amount and boost store rep counts to 3.6/1,000 sq. ft. from a current 3.1, which would lift annual EPS $1.

    | Mar. 28, 2012, 12:00 PM | 1 Comment
  • Mar. 28, 2012, 11:23 AM

    Options maven RiskReversal is out with a call for a runup in Best Buy (BBY -0.6%) following the company's FQ4 report based on options pricing that shows an implied +5% move. Looking back over the last 8 quarters - other than 2 FQ3 misses that decimated shares - BBY has shot up on average close to 5% each period.

    | Mar. 28, 2012, 11:23 AM | 1 Comment
  • Mar. 23, 2012, 7:15 AM

    Best Buy (BBY) sold an impressive 13% of all iPhones over a recent 3-month period - falling just two percentage points short of the mark of Apple itself, according to data from Consumer Intelligence Research Partners. Overall, retail stores - led by carriers such as AT&T, Sprint, and Verizon - accounted for 76% of sales and online stores 24%.

    | Mar. 23, 2012, 7:15 AM
  • Mar. 16, 2012, 4:50 AM
    The new iPad went on sale today in stores across ten countries just hours after Apple (AAPL) shares touched $600 for the first time. Australia was the first country in which the iPad was sold, with Wal-Mart (WMT), Best Buy (BBY) and RadioShack (RSH), as well as Apple, selling it in the U.S.
    | Mar. 16, 2012, 4:50 AM | 7 Comments
  • Mar. 15, 2012, 9:28 PM
    Wal-Mart (WMT) scores a coup of sorts as it will open stores at 12:01 AM - 8 hours before Apple (AAPL) opens its own outlets - to begin selling the new iPad. The arrangement also allows Wal-Mart to get the jump on rivals Target and Best Buy.
    | Mar. 15, 2012, 9:28 PM | 7 Comments
  • Mar. 9, 2012, 6:32 PM

    Best Buy (BBY) has hired Starbucks (SBUX) exec Stephen Gillett to run its e-commerce efforts. Gillett, who was behind Starbucks' Wi-Fi and mobile payments initiatives, says he wants to blend online and offline retail in a "harmonious way." But he has his hands full, given fierce competition from Amazon and other online retailers - competition which has fueled criticism that Best Buy's business model is simply too inefficient to compete.

    | Mar. 9, 2012, 6:32 PM | 1 Comment
  • Feb. 6, 2012, 2:59 PM
    Did Best Buy (BBY +2.7%) just leak details of Apple's (AAPL) iTV, and will it get into trouble for doing so? In a customer survey, BBY offers details of an "Apple HDTV" to be sold at stores for $1499: 42-inch 1080p LED flat panel display; can download and use App Store apps; supports iCloud for storing videos and music; can stream content from popular sites such as Netflix, YouTube, Flickr. (earlier)
    | Feb. 6, 2012, 2:59 PM | 18 Comments
  • Feb. 6, 2012, 12:06 PM

    Netflix (NFLX +0.2%) shares stage a quick turnaround on heavy volume, apparently traced to a report about the company's potential inclusion in Apple's (AAPL) new TV following a Best Buy (BBY) survey. Shares had been off sharply following news of a Coinstar-Verizon JV that could provide intense competition for NFLX later this year.

    | Feb. 6, 2012, 12:06 PM | 2 Comments
  • Jan. 31, 2012, 11:00 AM

    RadioShack's (RSH -28.45%) profit warning is not only hitting the retailer's shares in a big way, but it also appears to be pulling down some of its peers. Best Buy (BBY) -5.4%, Conn's (CONN) -1.3%, Aaron's (AAN) -3.8%, and hgregg (HGG) -4.2%. Dixons' (DSITY.PK) ADRs -10.1% on the loss of its CEO to Apple.

    | Jan. 31, 2012, 11:00 AM
  • Jan. 13, 2012, 9:46 AM

    Best Buy (BBY), hurt badly by soft TV demand and tough online competition, is combining several retail groups into a "connectivity business group," which will sell PCs, tablets, e-readers, and mobile phones, along with related services. Save for PCs, the products covered by the unit represent Best Buy's fastest-growing offerings.

    | Jan. 13, 2012, 9:46 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