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Best Buy Co. (BBY)

  • Fri, Apr. 24, 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.
  • Tue, Mar. 3, 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.
    | Comment!
  • Thu, Jan. 15, 12:45 PM
    | Comment!
  • Thu, Jan. 15, 9:16 AM
  • Thu, Jan. 15, 7:41 AM
    • Shares of Best Buy (NYSE:BBY) slip in early trading as the company takes a "cautionary" stance on domestic sales trends outside of the holiday period which saw the introduction of high-profile products (mobile, 4K TVs).
    • Enterprise comparable sales growth in the first half of FY16 is forecast to be flat to negative low-single digits.
    • The company's operating income rate is expected to be down 30 bp to 50 bps over the same period.
    • BBY -6.9% premarket to $37.15.
    | Comment!
  • Thu, Jan. 15, 7:13 AM
    • Best Buy (NYSE:BBY) reports domestic comparable-store sales increased 2.6% during the holiday period.
    • Comparable online sales were up 13.4% vs. the +23.5% pace of a year ago.
    • The international comp was down 3.6% for the two-month period.
    • Demand in the electronics categories was previously reported to lag overall holiday sales.
    • Previously: Holiday retail sales something of a revelation (Jan. 08 2015)
    • BBY -2.4% premarket.
    | 1 Comment
  • Tue, Jan. 6, 10:11 AM
    • Conn's (CONN -1.3%), RadioShack (RSH -1%) and Best Buy (BBY -0.7%) are all lower after electronics seller hhgregg warns on weak Q4 sales.
    • The tablet/computer category pulled down hhgregg's sales below estimates.
  • Dec. 9, 2014, 8:36 AM
    • Shares of Best Buy (NYSE:BBY) are lower in early trading as a crisis at Conn's casts a shadow over big box retail.
    • Some retail analysts are calling the knee-jerk reaction a little overwrought considering Best Buy hasn't been as aggressive with its financing program.
    • BBY -1.9% premarket vs. S&P 500 -0.7%. Shares of hhgregg (NYSE:HGG) haven't opened yet but could see some nervous trigger fingers also.
  • Dec. 1, 2014, 9:35 AM
    • Shares of Best Buy (NYSE:BBY) slide 1.8% at the open after the retailer suffers some website outages over the key Black Friday weekend.
    • Wedbush is also out with margin warning on the company after taking in pricing trends.
    | Comment!
  • Nov. 28, 2014, 10:16 AM
    • Best Buy's (BBY +1.8%) website is down at the moment.
    • A message on the retailer's home page to Black Friday consumers: "Check back soon."
    • Shares of BBY have trimmed off some of their early gains, but could feel a sharper sting if the outage minutes stretch into hours.
    | 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, 7:14 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
    | Comment!
  • May. 22, 2014, 4:11 PM
    • Calling Q1, "another quarter of strong execution and cost reductions ($860M since Q1 of 2013) and substantial progress on initiatives such as ship from store," analyst Denise Chai reiterates a Buy rating and $36 price target on Best Buy (BBY +3.5%).
    • Her team says Best Buy is "increasingly well-positioned to accelerate EPS growth" Catalysts: 1) A huge improvement in online capabilities; 2) The ability to sell returned and open box merchandise online; 3) Better mobile sales as installment billing fully rolled out; 4) Upside from an underappreciated 4K TV cycle; 5) Greater flow through of Renew Blue cost savings; and 6) The rollout of Athena."
    • Previously: Best Buy lower as soft sales guidance trumps margin improvement
    | Comment!
  • May. 22, 2014, 7:34 AM
    • Best Buy (BBY) reports comparable-store sales fell by 1.9% in FQ1 with sales being dragged down by soft demand in the company's international segment.
    • Comparable online sales rose 29% during the quarter on a higher average order and a boost by online orders taken at retail stores.
    • The U.S. business saw its gross profit rate drop 70 bps to 22.7%, with a bulk of the decline attributed to less favorable terms from Best Buy's new credit card agreement. Operating margin was up 20 bps.
    • Comparable sales are forecast to be negative in the low-single digits in both Q2 and Q3 on softness in the mobile phone category.
    • BBY -2.8% premarket
    | Comment!
  • Mar. 18, 2014, 9:13 AM
    • Shares of GameStop (GME) drop in early trading after Wal-Mart announces it will launch a used video game exchange program.
    • GameStop's used game business is vital to the company as it generates higher margins than the new game model. That could get trickier with the retail beast from Bentonville in the mix.
    • GME -5.5% premarket
    • Shares of Best Buy (BBY) are down 0.6% as the company also has a little skin in the used game market.
    | 1 Comment
  • Mar. 12, 2014, 10:53 AM
    • SolarCity (SCTY +4.6%) will pitch its solar installation/electricity services to Best Buy (BBY -1.4%) customers at 60 stores in California, New York, Arizona, Oregon, and Hawaii.
    • SolarCity, which already has a similar deal with Home Depot, will have onsite reps evaluate the feasibility of an installation with the help of satellite imagery, as well as discuss pricing and handle sign-ups.
    • For Best Buy, the SolarCity deal is the latest in a string of partnerships involving dedicated store space for a company's products/services. Other partners include Apple, Microsoft, and Samsung.
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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