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Best Buy Co. (BBY)

- NYSE
  • Aug. 19, 2013, 5:30 PM
  • Aug. 16, 2013, 9:36 AM
    • Best Buy (BBY -0.3%) launches a new trade-in deal for iPhone owners.
    • An iPhone 4S can be swapped for a $200 gift card and an iPhone 4 will fetch a $100 credit on a gift card or new iPhone 5 purchase, according to the retailer's website.
    | Aug. 16, 2013, 9:36 AM | 1 Comment
  • Aug. 15, 2013, 9:08 AM
    • U.S. District Court Judge Richard Leon gives the Federal Reserve one week to decide how much time it will need to rewrite rules on how much merchants can charge retailers for swipe fees on debit cards.
    • The judge didn't show a lot of deference to the central bank, telling officials to cut their vacation short to make it happen.
    • "We're not putting a man on the moon here," notes Leon.
    • An ultimate decision in the case could be appealed, but will have big implications at some point for banks and payments companies (V, MA) - as well as swipe-heavy retailers (SBUX, TGT, BBY).
    | Aug. 15, 2013, 9:08 AM | 9 Comments
  • Aug. 6, 2013, 1:49 PM
    • Employees at Best Buy's (BBY +0.5%) corporate headquarters are probably a bit skittish today with the retailer's tendency to lay off employees in a regular pattern leading to the second day of the week being called "Termination Tuesday."
    • The company has been trimming its payroll in a slow burn that could be motivating by avoiding mass-layoff reporting, according to the Minneapolis/St. Paul Business Journal.
    | Aug. 6, 2013, 1:49 PM | 4 Comments
  • Aug. 6, 2013, 1:44 PM
    • Big box retailers Best Buy (BBY +0.3%), hhGregg (HGG +0.4%), and Conn's (CONN +1.1%) all buck a weak trend for retail stocks to trade with minor gains.
    • A decent reading on chain store sales might be helping to tip sentiment.
    | Aug. 6, 2013, 1:44 PM | Comment!
  • Jul. 25, 2013, 3:03 PM
    Best Buy (BBY +1.3%) appoints Chris Askew as the top exec for its Geek Squad unit. The Geek Squad saw sales decline Y/Y in Q1 despite a company-wide pickup in revenue. Askew's most previous experience was at NCR where he was a senior vice president.
    | Jul. 25, 2013, 3:03 PM | 1 Comment
  • Jul. 19, 2013, 8:31 AM
    Jefferies hikes its price target on a "transitioning" Best Buy (BBY) from $31 to $35 representing a 21% upside from Thursday's close as analyst Daniel Binder weighs in on the Q2 outlook for retailers following perceived "strength on pent-up demand" in May and early June. Binder says HD and LOW "look strongest" while KSS and DLTR "could get to the high end of plan [and] WMT should show improvement in food."
    | Jul. 19, 2013, 8:31 AM | Comment!
  • Jul. 10, 2013, 10:02 AM
    Shares of Best Buy (BBY -5.1%) wilt in early trading. Technical traders are saying the stock hit technical resistance at $30 while the fundamental side points to cautious comments from analysts on the retailer.
    | Jul. 10, 2013, 10:02 AM | Comment!
  • Jul. 3, 2013, 7:42 AM
    Goldman Sachs picks up coverage on Best Buy (BBY) again with a Buy rating and $34 price target. The firm cites a strategic relationship with Microsoft and improved financial discipline from new management as positive factors for the retailer. BBY +0.1% premarket.
    | Jul. 3, 2013, 7:42 AM | 1 Comment
  • Jul. 1, 2013, 8:53 AM
    Credit Suisse takes coverage back up on Best Buy (BBY), slotting the retailer at an Outperform rating and assigning it a very bullish price target of $40. The investment firm cites other textbook retail turnaround stories as it backs management at Best Buy to see similar success. BBY +2.6% premarket to $28.03.
    | Jul. 1, 2013, 8:53 AM | Comment!
  • Jun. 24, 2013, 1:42 PM
    Best Buy (BBY -1.5%) will start to use stores to fulfill online orders under a new plan by CFO Sharon McCollam to change the company's supply chain. The transition should help prevent the out-of-stock messages which can plague Best Buy's website for certain items. In addition, the retailer is looking at selling returned store items at a discount to online shoppers.
    | Jun. 24, 2013, 1:42 PM | 2 Comments
  • Jun. 21, 2013, 12:41 PM
    Best Buy (BBY +0.9%) CEO Hubert Joly put in a solid performance at the retailer's annual meeting yesterday as he outlined a plan to transform and improve the company instead of blindly re-invent it. On the cost-cutting and customer service fronts, Joly has made some progress, but until comparable-store sales show some momentum his feet are still in the fire.
    | Jun. 21, 2013, 12:41 PM | Comment!
  • Jun. 18, 2013, 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.
    | Jun. 18, 2013, 8:15 AM | Comment!
  • Jun. 13, 2013, 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).
    | Jun. 13, 2013, 1:05 PM | 6 Comments
  • Jun. 3, 2013, 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.
    | Jun. 3, 2013, 6:55 AM | Comment!
  • May 31, 2013, 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.
    | May 31, 2013, 8:45 AM | 4 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