- The company registered a negative growth of approximately 4% in its top line during the second quarter of fiscal year 2015.
- Comparable same stores sales plummeted by 2% in the US and 6.7% on an international level. The 22% growth in the comparable online sales reaffirms the shift in the consumer buying pattern.
- Amazon is working on snatching the main business of Best Buy as the company’s electronics and general merchandise revenue skyrocketed by approximately 30% in the most recent quarter.
- The company reported a positive earnings surprise of 13 cents per share on the back of its cost reduction initiatives and closure of stores.
- Overall, the company prospects in the near term are downbeat and this stock may not be an ideal investment candidate for now.