Best Buy Co.
 (BBY)

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  • 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. 26, 1:18 PM | 2 Comments
  • 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, 1:19 PM
  • Thu, Jan. 14, 9:16 AM
    | Thu, Jan. 14, 9:16 AM
  • Fri, Jan. 8, 10:14 AM
    • Shares of Best Buy (BBY -4.6%) are under pressure after Cleveland Research warns on sales trends. Also factoring in, the electronics category was weak at several other retail chains during the holiday season.
    • The company is due to report on holiday sales next week which is likely to add even more volatility.
    • Best Buy is down 23% over the last three months.
    | Fri, Jan. 8, 10:14 AM | 3 Comments
  • Nov. 30, 2015, 12:55 PM
    • It's not a happy Cyber Monday for most retail chain stock on broad concerns over soft store traffic and weak pricing.
    • Notable decliners include Guess (GES -5.5%), Express (EXPR -4.6%), Zumiez (ZUMZ -7%), Foot Locker (FL -1.7%), Finish Line (FINL -2.1%), Urban Outfitters (URBN -4.4%), Francesca's (FRAN -2.9%), DSW (DSW -2.7%), and Men's Wearhouse (MW -3.3%).
    • Discounters are down sharply, led by Big Lots (BIG -5.4%), Gordmans Stores (GMAN -6%), and Five Below (FIVE -4.3%).
    • Big box retailers Wal-Mart (WMT -1.3%), Costco (COST -1.4%), and Target (TGT -1.4%) are lower with concerns over website capabilities lingering in the background. Best Buy (BBY +1.1%) is a bit of a surprise with a 1.4% gain after reports indicate demand for Apple products is exceptionally strong.
    • Specialty retailers such as The Container Store (TCS +1.6%), Party City (PRTY +1.2%), and The Michaels Companies (MIK +1.4%) are also retail outliers as consumers are seen spending a higher percentage of their disposable income close to their homes.
    • Previously: Retail stocks on watch after Amazon scoops up more Black Friday sales (Nov. 30 2015)
    • Previously: Department stores stocks weak on holiday sales anxiety (Nov. 30 2015)
    | Nov. 30, 2015, 12:55 PM | 11 Comments
  • Nov. 19, 2015, 9:14 AM
    | Nov. 19, 2015, 9:14 AM | 5 Comments
  • Nov. 19, 2015, 7:19 AM
    • Comparable-store sales rose 0.8% for Best Buy (NYSE:BBY) in FQ3. Analysts expected a mark closer to 1.5%.
    • International sales were down 29.9% to $729M. International gross profit rate -10 bps to 22.5%.
    • Domestic segment revenue +1.2% to $8.09B. Domestic comparable-store sales were up 0.8%. Online comparable sales +21% to account for 8.8% of all sales.
    • Domestic gross profit rate +110 bps to 24.1%. A higher mix of large screen TVs was a factor.
    • Consolidated gross profit rate +90 bps 23.9%. Consolidated operating income +30 bps to 2.6%.
    • Guidance: Best Buy expects flat domestic revenue growth in Q4 and a 30% drop in international sales.
    • Previously: Best Buy beats by $0.06, misses on revenue (Nov. 19 2015)
    • BBY -8.2% premarket to $28.75.
    | Nov. 19, 2015, 7:19 AM | 3 Comments
  • Oct. 14, 2015, 10:57 AM
    • The retail sector is reeling after Wal-Mart warns on the impact to its bottom line of higher wages.
    • Target (TGT -3.8%), Macy's (M -1.1%), Costco (COST -1.9%), and Best Buy (BBY -4.2%) all took a sharp turn down right after Wal-Mart set profit guidance lower.
    • Management with Wal-Mart also seemed a bit hesitant to gush over the back-to-school season and upcoming holiday period which could impact how investors look at Q4 earnings in the sector.
    • Previously: Wal-Mart slides after warning on impact of higher wage levels (Oct. 14 2015)
    | Oct. 14, 2015, 10:57 AM | 13 Comments
  • Aug. 25, 2015, 9:19 AM
    | Aug. 25, 2015, 9:19 AM | 7 Comments
  • Aug. 25, 2015, 7:18 AM
    • Best Buy (NYSE:BBY) recorded a strong 3.8% increase in comparable-store sales in Q2, led by a 17% rise in the online sales comp. Analyst expected a mark closer to 1%.
    • The company saw another sharp drop in international sales during Q2 amid store closures and F/X pressure. Sales were down 26% to $650M.
    • International gross profit rate +50 bps to 23.4%.
    • Domestic segment revenue +3.9% to $7.88B.
    • Domestic comparable-store sales were up 2.7% as installment billing contributed positively. The comp for appliances was +21%.
    • Domestic gross profit rate +130 bps to 24.7%.
    • Consolidated gross profit rate +120 bps 24.6%. Consolidated operating income +70 bps to 3.4%.
    • Previously: Best Buy beats by $0.15, beats on revenue
    • BBY +11.4% premarket to $32.60.
    | Aug. 25, 2015, 7:18 AM | 3 Comments
  • Aug. 25, 2015, 7:02 AM
    • Best Buy (NYSE:BBY): Q2 EPS of $0.49 beats by $0.15.
    • Revenue of $8.53B (+0.8% Y/Y) beats by $240M.
    • Shares +5.87% PM.
    | Aug. 25, 2015, 7:02 AM
  • Jul. 17, 2015, 8:29 AM
    • Bank of America Merrill Lynch downgrades Best Buy (NYSE:BBY) two notches to Underperform after having the retailer set at Buy.
    • Analysts at the firm cite concerns on Best Buy's product mix and the potential for it to miss with comparable-store sales growth in Q3 and Q4.
    • BAML slashes its price target to $32 from $45 vs. the consensus PT of $41.90.
    • BBY -3.87% premarket to $33.55.
    | Jul. 17, 2015, 8:29 AM | 1 Comment
  • Jun. 2, 2015, 1:17 PM
    • Retail chain stocks are putting in some strong gains despite a soft read earlier in the day from Redbook on sales.
    • PVH issued a strong report last night which helped push the sector in the right direction, but there also appears to be some speculative buying on some names in the sector after Macy's was reported to be under pressure to explore REIT options.
    • Previously: Macy's hearing from hedge funds on real estate assets
    • Gainers: Guess (NYSE:GES) +5.1%, Tilly's (NYSE:TLYS) +4.4%, Abercrombie & Fitch (NYSE:ANF) +5.7%, Kohl's (NYSE:KSS) +1.6%, J.C. Penney (NYSE:JCP) +2.9%, Bon-Ton Stores (NASDAQ:BONT) +4.6%, Stein Mart (NASDAQ:SMRT) +2.7%, Sears Hometown and Outlet Stores (NASDAQ:SHOS) +2.4%, Conn's (NASDAQ:CONN) +5.8%, Best Buy (NYSE:BBY) +1.7%, hhgregg (NYSE:HGG) +2.8%.
    | Jun. 2, 2015, 1:17 PM | 11 Comments
  • May 21, 2015, 10:04 AM
    • Best Buy (BBY +4.6%) sees flat to low single-digit domestic revenue growth in Q2.
    • International sales are expected to fall 30% to 35% during the period on a reduced store count.
    • Customer retention rate was a major focus from management during the call. The company expects to hold on to customers despite store closings.
    • Execs said drivers of P&L improvement are SG&A tightening, focused marketing, and strategic tech investments
    • Categories showing strength beyond expectations include "iconic" phones, large screen TVs, and major appliances/
    • Previously: Best Buy beats by $0.08, beats on revenue (May. 21 2015)
    • Previously: Best Buy pops after earnings crusher (May. 21 2015)
    • Earnings call webcast
    | May 21, 2015, 10:04 AM | 1 Comment
  • May 21, 2015, 9:16 AM
    | May 21, 2015, 9:16 AM
  • May 21, 2015, 7:16 AM
    • Sales in Best Buy's (NYSE:BBY) international segment fell to $668M in Q1.
    • Domestic segment revenue +1.4% to $7.89B
    • Domestic comparable-store sales were up 0.6% with a new installment billing program contributing130 bps of growth.
    • Domestic gross profit rate +120 bps to 22.7%.
    • International gross profit rate -220 bps to 23.8%.
    • Consolidated GAAP operating income rate -140 bps to 1.0%.
    • Previously: Best Buy beats by $0.08, beats on revenue
    • BBY +9.5% premarket.
    | May 21, 2015, 7:16 AM | 3 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