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May 21, 2015, 7:02 AM
- Best Buy (NYSE:BBY): Q1 EPS of $0.37 beats by $0.08.
- Revenue of $8.56B (-0.9% Y/Y) beats by $100M.
May 20, 2015, 5:30 PM
May 14, 2015, 11:36 AM
- Wedbush Securities warns on an earnings miss for Best Buy (BBY -2.8%) next week when the company reports Q1 results.
- The investment firm is at BBY revenue of $8.24B and EPS of $0.26 vs. consensus of $8.49B and $0.29.
- Though consumer spending trends don't bode well for a strong Best Buy U.S. comp, cost-cutting measures at the company have been on track in recent quarters.
- BBY -9.72% YTD.
Apr. 24, 2015, 7:50 AM
- JPMorgan downgrades Best Buy (NYSE:BBY) to a Neutral rating after having the retailer previously slotted at Overweight.
- Sales at Best Buy are running below the expectations built into share price, reasons JP.
- The investment firm cut its price target on the stock to $40 from $45.
- BBY -1.88% premarket to $35.45.
Apr. 13, 2015, 4:16 PM
- Best Buy (NYSE:BBY) names Hubert Joly to replace the retiring Hatim Tyabji as the Chairman of the Board.
- Joly will continue on in his CEO role as well.
- BBY +0.8% after hours
Mar. 29, 2015, 4:18 AM
- Best Buy (NYSE:BBY) plans to close some stores and consolidate its operations in Canada, in a move that will hurt its earnings by $0.10-$0.20 this year.
- Costing about $200M-$280M in restructuring charges, Best Buy said it will close 66 of its Future Shop stores in Canada and convert 65 of them into Best Buy outlets.
- The retailer also announced plans to spend $160M to improve its Canadian online operations, increase staffing at its remaining stores, and launch a range of home appliances.
Mar. 17, 2015, 11:24 AM
- Best Buy (BBY -0.5%) saw a large volume spike today off of a rumor on a Carl Icahn stake in the company.
- Shares brought themselves into positive territory before settling back.
- Though the reports of Icahn interest in the retailer are unconfirmed, the buzz was enough to take Best Buy to a 52-week high.
- Some retail analysts have noted the bankruptcy of RadioShack and focus by Conn's on furniture and mattresses could give Best Buy some incremental traffic this quarter.
Mar. 4, 2015, 11:26 AM
- Target (TGT +0.1%) trades higher as investors digest the information the company unveiled at its investor meeting late yesterday.
- Though the headline items were the thousands of job cuts announced and FY16 EPS guidance, it's Target's shift in philosophy which may emerge as the biggest pullaway for investors.
- "We recognize that we are talking about a significant cultural change, but it's driven by what the consumers want and expect from Target," said CEO Brian Cornell at the event.
- Just 7 weeks after announcing a full exit from Canada, Target now calls digital its top priority in the U.S.
- Janney Capital Markets thinks the +40% growth target for Target's digital business is a reach.
- Piper Jaffray boosted its price target on TGT to $86.
- Morgan Stanley sticks with a Positive stance on the company.
- Some analysts think Target's digital scale is formidable enough to put some pricing pressure on Best Buy (NYSE:BBY), Amazon (NASDAQ:AMZN), Staples (NASDAQ:SPLS), and Wal-Mart (NYSE:WMT).
Mar. 3, 2015, 7:34 AM
- Best Buy (NYSE:BBY) reports revenue in its domestic segment increased 3.2% to $12.697B during Q4.
- Comps were up over 2% with demand for TVs a positive factor.
- International segment sales -12.4% to $1.512B.
- Sales of tablets and revenue from services were lower during the quarter.
- Domestic online revenue +9.7% to $1.72B - a deceleration from previous quarters.
- Domestic gross profit rate +120 bps to 21.2%.
- International gross profit rate flat at 21.7%.
- Operating income rate +250 bps to 5.7%.
- Previously: Best Buy set capital allocation plans
- Previously: Best Buy beats by $0.13, misses on revenue
- BBY +4.22% premarket.
Mar. 3, 2015, 7:14 AM
- Best Buy (NYSE:BBY) declares $0.23/share quarterly dividend, 21% increase from prior dividend of $0.19.
- Forward yield 2.38%
- Payable April 14; for shareholders of record March 24; ex-div March 20.
Mar. 3, 2015, 7:10 AM
- Best Buy (NYSE:BBY) announces it will repurchase $1B in stock over the next three years.
- The company also fires off a special $0.51 per share dividend.
- BBY +2.25% premarket.
Mar. 3, 2015, 7:03 AM
- Best Buy (NYSE:BBY): Q4 EPS of $1.48 beats by $0.13.
- Revenue of $14.21B (+1.3% Y/Y) misses by $140M.
Mar. 2, 2015, 5:30 PM
Feb. 26, 2015, 9:30 AM
Feb. 24, 2015, 7:15 AM
Feb. 3, 2015, 12:17 PM
- Retail space continues to open up as more companies look to trim their store counts or reposition themselves in front of mergers or bankruptcies.
- In some cases, the transition is based on repositioning assets to online fulfillment centers.
- A quick scan indicates Sears Holdings (NASDAQ:SHLD), J.C. Penney (NYSE:JCP), RadioShack (NYSE:RSH), Dollar Tree (NASDAQ:DLTR), Wet Seal (NASDAQ:WTSL), Macy's (NYSE:M), Haverty Furniture (NYSE:HVT), Bon-Ton Stores (NASDAQ:BONT), Aeropostale (NYSE:ARO), Rent-A-Center (NASDAQ:RCII), and Wolverine Worldwide (NYSE:WWW) are unloading properties.
- Analysts have warned the flooded market could lead to some disappointing transaction prices or lease rates for the companies involved.
- What to watch: A merger between Staples (NASDAQ:SPLS) and Office Depot (NASDAQ:ODP) or a major retooling from Best Buy (NYSE:BBY) this year could add to the tally.
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