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BBY

Best Buy Co.

6/20/2013, 1:53 AM ET

Quote & Headlines Market Currents StockTalk

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| Earnings
| Dividends
| M&A
| On the move

Tuesday, June 18, 8:15 AM More on ICSC Retail Sales: The retail sector put in a mixed week with department stores, electronics store chains ([[RSH[[, BBY), and drug stores (CVS, WAG, RAD]]) strong for the period, but sales at dollar stores (DG, DLTR, FIVE, FDO) and wholesale clubs (COST, PSMT) notably weak. After last week's drop in sales cut into forward progress, the year-over-year gain in retail chain store sales stands 2.5% higher after threatening a 3% pace earlier in the year. Comment! [U.S. Economy]
Thursday, June 13, 1:05 PM Following Apple's retail lead again, Microsoft (MSFT -0.9%) is opening 600 "Windows Stores" with 1.5K-2.2K sq. feet of real estate inside of Best Buy (BBY +0.6%) outlets, and another 100 within Canadian electronics chain Future Shop's stores. Like Microsoft's own retail outlets, both Microsoft and OEM partner hardware will be shown off. Also: Microsoft is set to launch an ad campaign that will simultaneously promote Windows 8 and Windows Phone, and the well-plugged-in Mary-Jo Foley reports hearing Microsoft's restructuring could yield "two leaders for each of its new business segments" (for example, a consumer head and a business head for the Services unit). 6 Comments [Tech, Consumer]
Monday, June 3, 6:55 AM Best Buy (BBY) is ahead by 3.8% in the premarket following an upgrade to Buy from Hold at SunTrust, with price target of $35. Comment! [Consumer, On the Move]
Friday, May 31, 8:45 AM A below par reading on personal spending for April was affected by lower gas prices and home heating bills and isn't a biting indictment on retail spending (AEO, ANF, ARO, BBBY, BBY, BJ, CHS, COH, COST, DG, DLTR, GPS, HD, JCP, JWN, KSS, LOW, LTD, M, NDN, NKE, ODP, PIR, PLCE, RSH, SKS, SPLS, TGT, TJX, URBN, WMT, WSM, ZLC), according to economists. Auto sales also cooled off just a bit in April which had an impact. So far, retail trends have been largely favorable in May as the height of the spring selling season shifted a few weeks later. 4 Comments [Consumer]
Wednesday, May 22, 8:21 AM Best Buy (BBY) declares $0.17/share quarterly dividend, in line with previous. Forward yield 2.65%. For shareholders of record June 11. Payable July 2. Ex-div date June 7. (PR) Comment! [Dividends]
Tuesday, May 21, 9:15 AM Heard during Best Buy's (BBY) earnings call: 1) CEO Hubert Joly indicates the company might do more store-within-a-store deals with vendors. Talks are ongoing. 2) No specific details are given, but the company says it's already seeing a positive impact on sales in states where online sales taxes are collected. 3) Joly seems to be doing what he does best, negotiating cost reductions at Best Buy and squeezing out more savings. 4) A nice improvement in online sales is a highlight for the company as execs pitch the case the brand is being resurrected. BBY -2.7% premarket. (webcast) Comment! [Consumer, On the Move]
Tuesday, May 21, 7:12 AM More on Best Buy's (BBY) Q1: Comparable store sales dipped 1.1% during the period, although the retailer did get a strong bounce (+16.3%) from online sales. If the shift of the Super Bowl and the impact from the decision to cut back on certain non-core businesses is backed out, comp sales were flat. Gross profit was down 190 bps to 23.4% due to the retailer's increased investment in pricing and higher promotional stance. The company notes Samsung Experience shops will be a focus in Q2. (PR) Comment! [Consumer, Earnings]
Tuesday, May 21, 7:01 AM Best Buy (BBY): Q1 EPS of $0.32 beats by $0.06. Revenue of $9.38B misses by $1.26B. (PR) Comment! [Earnings, Breaking News]
Tuesday, May 21, 12:05 AM Notable earnings before Tuesday’s open: AZO, BBY, DCIX, DKS,HD, MDT, NM, SKS, TJX Comment! [Earnings]
Monday, May 20, 5:30 PM Notable earnings before Tuesday’s open: AZO, BBY, DCIX, DKS,HD, MDT, NM, SKS, TJX Comment! [Earnings]
Monday, May 20, 7:40 AM Best Buy's (BBY) store-within-a-store strategy is starting to pay off as wasted (no profits) space for DVD and CD products is converted into creative floor space that can produce profits, according to Janney Montgomery Scott's David Strasser. The analyst sees positive same-store sales for the current quarter. 1 Comment [Consumer]
Tuesday, May 7, 12:30 PM The Internet tax bill (Marketplace Fairness Act) passed a Senate vote 69 to 17 but faces a much bigger obstacle in the House where some members are expected to draw the line on what they call a tax increase. If the bill ultimately succeeds, retail analysts see a marginal benefit for the retailers that are hit the hardest by the "showrooming effect" - Best Buy (BBY -0.8%), Bed Bath & Beyond (BBBY +0.1%), and PetSmart (PETM +0.4%) come to mind - while pegging eBay (EBAY -0.3%) as a company that might have the most to lose. 1 Comment [Consumer, U.S. Economy]
Monday, May 6, 10:53 AM Best Buy (BBY -1.5%) will consider adding clearance sections to its stores, according to Belus Capital Advisors' Brian Sozzi. The retailer already has an online section of its website devoted to clearance offerings for open box and refurbished devices. Comment! [Consumer]
Tuesday, April 30, 9:19 AM Shares of Best Buy (BBY) move up 6% in premarket trading after a plan by the company to sell its stake in Carphone Warehouse looks to be a smart move to investors. CEO Hubert Joly's intensified focus on strengthening Best Buy's balance sheet and improving returns on investment is the elixir du jour, but skeptics still point to the retailer's square footage costs in the U.S. as a hurdle to clear. Comment! [Consumer, On the Move]
Tuesday, April 30, 9:10 AM Premarket gainers: HPY +10%. HTWR +9%. ANAD +9%. AVP +8%. UBS +7%. BBY +6%.
Losers: DCTH -20%. AVEO -16%. NUAN -15%. PBI -10%. MTG -8%. CNH -6%. RVBD -6%. QGEN -5%. Comment! [On the Move]
Tuesday, April 30, 3:58 AM Best Buy (BBY) is selling its 50% stake in Carphone Warehouse back to Carphone Warehouse for $775M. BBY paid $2.15B in June 2008 to expand its stake from 3% to 50%, but its plans to roll out Best Buy Europe big box stores were aborted in 2011. BBY will take a non-cash charge of $200M for the sale in Q1. Best Buy, which still operates stores in Mexico, Canada and China, says the move does not signal any similar action in our other international businesses. (PR) Comment! [Breaking News, M&A, Consumer]

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