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Best Buy Co. (BBY)

  • Nov. 11, 2014, 9:04 AM
    • Best Buy (NYSE:BBY) announces it will open at 5:00 p.m. on Thanksgiving Day which will give it an hour jump on some of its rivals. Most stores will stay open until 1:00 a.m.
    • The retailer is making a marketing push on 4K Ultra HD Smart TVs which is a margin-boosting category when accessories and service plans are factored in.
    • Best Buy has been a favorite pick of some retail analysts to surprise this holiday season with a sales gain over the industry average (4.0%-4.5%).
    | Nov. 11, 2014, 9:04 AM | 1 Comment
  • Oct. 31, 2014, 1:21 PM
    • The odds aren't good for a national roll-out of smartphone payments solution CurrentC, according to USA Today's Jeff Graham.
    • The retail consortium admitted to a hacking incident earlier this week and has lost momentum with Apple Pay dominating headlines.
    • Inside the network, Meijer broke ranks with fellow MCX members by moving to accept Apple Pay with its hardware.
    • CurrentC was created to help the retail industry bypass credit card fees.
    • Partial list of MCX members: LUV, GPS, DNKN, KR, TGT, WMT, BBBY, KSS, SHLD, WEN, BBY.
    | Oct. 31, 2014, 1:21 PM | 9 Comments
  • Oct. 29, 2014, 2:42 PM
    • Best Buy (BBY -1%) is well-positioned on the operational side for the holiday season, according to Citi.
    • Improved distribution channels should help Best Buy navigate any weather or logistical issues that arise deep into the holiday period.
    • The investment firm also notes that all 1.4K Best Buy U.S. locations are set up with an option for customers to pick up online orders from stores.
    | Oct. 29, 2014, 2:42 PM | Comment!
  • Oct. 27, 2014, 4:59 AM
    • Rite Aid (NYSE:RAD) and CVS (NYSE:CVS) have disabled Apple's (NASDAQ:AAPL) mobile wallet system, Apple Pay, from working in their outlets across the U.S.
    • The reason wasn't immediately clear, the NYT reports, although it might have something to do with the drug retailers being part of MCX, a consortium of merchants that is developing an unfinished rival product called CurrentC.
    • A major question is whether other MCX retailers, which include Best Buy (NYSE:BBY), Gap (NYSE:GPS) and Walmart (NYSE:WMT), will also cut Apple, and/or whether consumers would revolt at such a move.
    • Apple has been working with MasterCard (NYSE:MA) on its system.
    | Oct. 27, 2014, 4:59 AM | 81 Comments
  • Oct. 7, 2014, 8:23 AM
    • Best Buy (NYSE:BBY) might at least take a look at buying Conn's (NASDAQ:CONN), theorizes Barron's Ben Levisohn.
    • The retail chain has a deep penetration in the southern part of the U.S. where Best Buy's footprint is a bit thinner.
    • Shares of Conn's are down 59% YTD, although much of the concern from investors is focused on the credit side of the business.
    | Oct. 7, 2014, 8:23 AM | 3 Comments
  • Oct. 7, 2014, 8:05 AM
    | Oct. 7, 2014, 8:05 AM | 2 Comments
  • Sep. 24, 2014, 8:13 AM
    | Sep. 24, 2014, 8:13 AM | 9 Comments
  • Sep. 9, 2014, 7:15 PM
    • RadioShack (NYSE:RSH) will release its financial results Thursday morning, and Wedbush analyst Michael Pachter sees a big, big miss, projecting a $0.66/share loss vs. Street consensus for a $0.36 loss, on sales of $762M vs. $893M consensus.
    • The firm says brick and mortar electronics retailers such as RSH and Best Buy (NYSE:BBY) will see persistent structural decline as internet sales continue to take share; it sees continuing evidence of traffic deterioration and lower productivity for BBY’s retail foot print, while RSH has less financial flexibility to invest in price competitiveness.
    • Believing bankruptcy is imminent, Pachter lowers his price target for RSH to zero.
    | Sep. 9, 2014, 7:15 PM | 22 Comments
  • Aug. 27, 2014, 10:53 AM
    • Best Buy Co. (NYSE:BBY) declares $0.19/share quarterly dividend, in line with previous.
    • Forward yield 2.45%
    • Payable Oct. 2; for shareholders of record Sept. 11; ex-div Sept. 9.
    | Aug. 27, 2014, 10:53 AM | Comment!
  • Aug. 26, 2014, 11:14 AM
    • Execs with Best Buy (BBY -4.9%) focused heavily on the cost saving initiatives in place at the company during their conference call talk with analysts this morning.
    • Though demand is expected to be weak in the consumer electronics and mobile phone categories, home theaters could see a boost with increased demand for 4K TVs, especially next year when prices come down.
    • The high penetration of mobile phones in the U.S. is a bit of drag on demand, notes Hubert Joly.
    • Look for a more refined and targeted marketing message from Best Buy as it uses more data.
    • The back-to-school season is "in-line" with expectations so far.
    • Earnings call webcast
    | Aug. 26, 2014, 11:14 AM | 1 Comment
  • Aug. 26, 2014, 7:33 AM
    • Best Buy (NYSE:BBY) warns that it expects the consumer electronics category to remain weak over the next two quarters.
    • The mobile phone category could also see softness as consumers wait on new phone launches, warns CEO Sharon McCollam.
    • Previous: BBY earnings, FQ1 details
    • BBY -3.9% premarket
    | Aug. 26, 2014, 7:33 AM | 2 Comments
  • Aug. 26, 2014, 7:14 AM
    • Best Buy (NYSE:BBY) reports comparable-store sales fell 2.0% in FQ1 on continued weakness in the consumer electronics category.
    • Comparable online sales +22%.
    • International comparable-store sales -6.7%.
    • Domestic gross profit rate -390 bps to 23.4%, overall -340 bps to 23.1%.
    • Domestic SG&A expense ratio -180 bps to 20.1%, overall -160 bps to 20.4%.
    • Inventory +2.7% to $5.583B.
    • BBY +3.2% premarket
    | Aug. 26, 2014, 7:14 AM | Comment!
  • Aug. 26, 2014, 7:01 AM
    • Best Buy (NYSE:BBY): Q2 EPS of $0.44 beats by $0.13.
    • Revenue of $8.89B (-4.0% Y/Y) misses by $100M.
    • Press Release
    | Aug. 26, 2014, 7:01 AM | Comment!
  • Aug. 25, 2014, 5:30 PM
  • Aug. 22, 2014, 7:29 AM
    • Piper Jaffray backs its Buy rating on Best Buy (NYSE:BBY) heading into the retailer's Q2 earnings release next week.
    • The investment firm expects a negative BBY comp, but sees some gross margin improvement.
    • Things may get easier in Q3 and Q4 for Best Buy when it starts to lap easier comps and with an iPhone launch scheduled.
    | Aug. 22, 2014, 7:29 AM | 1 Comment
  • Aug. 15, 2014, 9:08 AM
    • Video games sales fell 15% Y/Y in July, according to data from the NPD Group. The tally is for sales at physical retail outlets such as GameStop (NYSE:GME), Best Buy (NYSE:BBY), and Target (NYSE:TGT).
    • The comparable to last year was impacted by a dispute between the NCAA and student athletes which prompted Electronic Arts (NASDAQ:EA) to stop producing its popular NCAA football series amid the legal dispute.
    | Aug. 15, 2014, 9:08 AM | 2 Comments
Company Description
Best Buy Co Inc is a retailer of technology products, including tablets and computers, televisions, mobile phones, large and small appliances, entertainment products, digital imaging and related accessories.
Sector: Services
Country: United States