Today, 8:16 AM
- A new survey indicated 44% of online shoppers turn to Amazon.com first when searching for a product online. The level is much higher than what was found in previous studies.
- Another 34% use Google and other search engines to being their shopping efforts, while only 21% begin their search directly on the website of a retailer.
- The gains by Amazon in becoming the shopping portal for a higher percentage of consumers hits a wide variety of retailers - including Target (NYSE:TGT), Wal-Mart (NYSE:WMT), Staples (NASDAQ:SPLS), and Best Buy (NYSE:BBY) - on market share and pricing leverage. It's been particularly devastating to mall chains such as Aeropostale (NYSE:ARO), American Eagle Outfitters (NYSE:AEO), Buckle (NYSE:BKE), Pacific Sunwear (NASDAQ:PSUN), and Abercombie & Fitch (NYSE:ANF) which rely on impulse buying from in-store shoppers.
Tue, Sep. 8, 1:36 PM
- Macy's (M +1%) announces it will test selling consumer electronics at Best Buy (BBY +2.6%) shops set up inside 10 stores in the U.S. The Best Buy shops will be on the small end at about 300 square feet.
- The initiative to sell electronics such as Samsung phones, tablets, and smart watches is scheduled to begin in early November.
Wed, Aug. 26, 8:02 AM
Tue, Aug. 25, 9:19 AM| Tue, Aug. 25, 9:19 AM | 7 Comments
Tue, Aug. 25, 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.
Tue, Aug. 25, 7:02 AM
Mon, Aug. 24, 5:30 PM
Mon, Aug. 10, 2:42 PM
- Conn's (CONN +7.3%), hhgregg (HGG +5.5%), Aaron's (AAN +3.2%), and Best Buy (BBY +1.8%) are all higher on decent volume.
- The bounce comes ahead of this week's report on retail sales in which some analysts think consumer electronics will top expectations.
- Previously: All eyes on U.S. Retail Sales report next week (Aug. 08 2015)
Fri, Aug. 7, 9:14 AM
- Retail watchers note its full-court press time at Best Buy (NYSE:BBY) into the Back to School season.
- The retail chain is looking to move higher-ticket items with store traffic expected to increase.
- Also in the mix, Best Buy is selling the Apple Watch beginning today and has given the Cupertino product prime space on its website.
- Best Buy reports Q2 earnings on August 25 with analysts expecting the company to report revenue of $8.31B and EPS of $0.34.
Mon, Jul. 27, 12:51 PM
- Shares of Best Buy (BBY -1.3%) trade lower than broad market averages on a muted reaction to the company announcing it will be the first retail chain to sell Apple Watches.
- The company won't be selling the higher-end Apple Watch Edition among the 16 models it will offer.
- Analysts note the Apple Watch will only be available at roughly 17% of Best Buy's stores which will make it harder to move the needle.
- Previously: Apple Watch hits Best Buy stores (Jul. 27 2015)
Mon, Jul. 27, 1:55 AM
- The Apple Watch (NASDAQ:AAPL) will be available at more than 100 Best Buy (NYSE:BBY) stores in the U.S. starting in August, and more than 300 locations before the holiday season, marking the first time the watch will be sold outside of the Apple retail store.
- During its earnings announcement last week, CEO Tim Cook said the Watch was selling better than expected, but didn't say how many the company had sold or what its projections were.
Sat, Jul. 25, 1:09 PM
- Wal-Mart (NYSE:WMT) aims to reach a capability of delivering packages in two days or less to 95% of the U.S. population.
- The company opened a new 1.2M square-foot fulfillment center in Pennsylvania this week, and has four more e-commerce facilities scheduled to open later this year.
- Naturally, Wal-Mart has Amazon in its sights with its aggressive online delivery and pricing push, but the e-commerce investments from Bentonville also put pressure on Target (NYSE:TGT), Staples (NASDAQ:SPLS), and Best Buy (NYSE:BBY) to keep pace.
Fri, Jul. 17, 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.
Wed, Jul. 15, 8:56 AM
- Today's promotional battle between Wal-Mart (NYSE:WMT) and Amazon (NASDAQ:AMZN) could have two winners (besides consumers) and many losers, according to retail analysts.
- The retail machines could pull forward some back-to-school sales away from rivals and smaller chains without the online reach.
- Shopatron's John Pincott notes it's nearly impossible for consumers to miss the Amazon and Wal-Mart deals due to the broad marketing efforts and allure of a Black Friday-type event.
- Amazon initiated the promotional battle with a one-day sale celebrating the company's 20th anniversary, while Wal-Mart continues to counterpunch against the moves coming out of Seattle.
- Margin worries will continue to be in the background while the heavyweights slug it out for top-line growth.
- What to watch: Companies in the line of fire of the promotional salvos include Staples (NASDAQ:SPLS), Best Buy (NYSE:BBY), Target (NYSE:TGT), Costco (NASDAQ:COST), and Office Depot (NASDAQ:ODP). There's also an alarming trend in play for department stores (JCP, DDS, KSS, M, TJX) with more BTS family shopping for clothing turning online.
Mon, Jul. 13, 8:00 AM
- Wal-Mart (NYSE:WMT) plans to launch an aggressive online sale on Wednesday in a countermeasure to Amazon's (NASDAQ:AMZN) Prime Day savings promotion on July 15 for Prime members.
- Sales on over 2K items will be rolled back at Wal-Mart for at least 90 days.
- The company has also lowered the minimum order amount to qualify for free shipping to $35 from $50 for at least a month.
- Best Buy (NYSE:BBY) and Target (NYSE:TGT) are also looking for a July sales boost with Black Friday sales planned around the timing of the Amazon event.
Tue, Jun. 2, 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%.
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