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Best Buy Co. (BBY)

- NYSE
  • Yesterday, 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.
    | 3 Comments
  • Mon, Apr. 13, 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
    | Comment!
  • Sun, Mar. 29, 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.
    | 16 Comments
  • Tue, Mar. 17, 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.
    | 2 Comments
  • Wed, Mar. 4, 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).
    | 9 Comments
  • 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!
  • Tue, Mar. 3, 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.
    | Comment!
  • Tue, Mar. 3, 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.
    | Comment!
  • Tue, Mar. 3, 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.
    • Press Release
    | Comment!
  • Mon, Mar. 2, 5:30 PM
  • Thu, Feb. 26, 9:30 AM
    • Prices on appliances fell 4.9% Y/Y in January, according to data from the Bureau of Labor Statistics.
    • Major appliances saw a 7.7% slide, including a 8.4% drop in laundry equipment prices.
    • Related stocks: WHR, CONN, BBY, HGG, SHLD, OTC:ELUXF, OTCPK:ELUXY.
    | Comment!
  • Tue, Feb. 24, 7:15 AM
    • Best Buy (NYSE:BBY) says it will open a tech center in the Seattle area this spring.
    • The facility will be staffed by engineers, web developers, and product managers.
    • The company saw online sales as a percentage of total revenue almost double last holiday season to 15%.
    | Comment!
  • Tue, Feb. 3, 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.
    | 19 Comments
  • Tue, Jan. 20, 10:56 AM
    • The Supreme Court passes on hearing a case over the level of swipe fees charged by banks to retailers.
    • The cap on swipe fees will stand at $0.21-$0.24 following the high court decision.
    • Intense lobbying from the financial services industry prompted the Fed to move off its original recommendation for a $0.12 cap.
    • The National Retail Federation and other consumer groups have vowed to keep the fight going.
    • Related stocks: V, MA, WMT, TGT, BBY, CVS, WBA, COST, HD, LOW, GPS, M.
    | 10 Comments
  • Thu, Jan. 15, 12:45 PM
    | Comment!
  • Thu, Jan. 15, 10:33 AM
    • Target's exit from Canada has retail analysts re-evaluating the plans of a number of chains with operations in the region.
    • The list below includes companies just entering Canada with a light store count and some well-established chains which have already been trimming.
    • Specialty: Chico's FAS (NYSE:CHS), DSW (NYSE:DSW), Hennes & Mauritz (OTCPK:HMRZF), Jimmy Choo, TJX Companies (NYSE:TJX), Moncler, Aeropostale (NYSE:ARO), Versace, Nordstrom.
    • Big-box: Best Buy (NYSE:BBY), Wal-Mart (NYSE:WMT), Staples (NASDAQ:SPLS), Sears Canada (NASDAQ:SHLD).
    • Previously: Nervous feet for Nordstrom over Canada? (Jan. 15 2015)
    • Previously: Full exit from Canada for Target (Jan. 15 2015)
    | 7 Comments
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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