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Best Buy Co. (BBY)

  • Today, 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!
  • Today, 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!
  • Today, 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!
  • Today, 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!
  • Yesterday, 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.
  • 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.
  • 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)
  • 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
  • Wed, Jan. 14, 9:17 AM
    • A slide in retail sales during December was impacted by weakness with the electronics stores (BBY, CONN, HGG) and building materials/garden equipment (HD, LOW) categories.
    • The biggest drag on the index was the gasoline stations component (CASY, PTRY]]) which recorded a 6.5% M/M and 14.2% Y/Y decline in December.
    • Good news for the restaurant sector (MCD, QSR, YUM, SONC, WEN) as sales were up 0.8% M/M and 8.2% Y/Y during the month.
  • Thu, Jan. 8, 8:18 PM
    • Holiday retail sales rose 4.6% vs. expectations for a 3.8% lift, according to a read from ShopperTrak. The growth rate is the highest since 2005 for the period.
    • The rush of positive reports from retailers on holiday sales comes off of some beaten-down expectations, notes Chain Store Age.
    • Concerns on mall traffic, a West Coast port slowdown, and a frenzied level of promotions drove consensus estimates lower before some macroeconomic factors improved and $2 gas entered the scene.
    • A cross-section of retailers that surprised on the upside includes Barnes & Noble, Pier 1 Imports, Walgreens, Urban Outfitters, and Sonic.
    • What to watch: Costco (NASDAQ:COST) put up a 5% comp for December, putting some pressure on Wal-Mart (NYSE:WMT) and Target (NYSE:TGT) to show signs of late-quarter strength. Signs of weakness at dollar stores (DG, DLTR, FDO, FIVE) and electronics chains (HGG, CONN, BBY) are a concern. Retailers seen as on-trend for the holiday season include Foot Locker (NYSE:FL), Lululemon (NASDAQ:LULU), and Williams-Sonoma (NYSE:WSM).
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Company Description
Best Buy Co Inc 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