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Best Buy Co. (BBY)

  • 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 22, 2013, 8:21 AM
    Best Buy (BBY) declares $0.17/share quarterly dividend, in line with previous. Forward yield 2.65%. For shareholders of record June 11. Payable July 2. Ex-div date June 7. (PR)
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  • May 21, 2013, 9:15 AM
    Heard during Best Buy's (BBY) earnings call: 1) CEO Hubert Joly indicates the company might do more store-within-a-store deals with vendors. Talks are ongoing. 2) No specific details are given, but the company says it's already seeing a positive impact on sales in states where online sales taxes are collected. 3) Joly seems to be doing what he does best, negotiating cost reductions at Best Buy and squeezing out more savings. 4) A nice improvement in online sales is a highlight for the company as execs pitch the case the brand is being resurrected. BBY -2.7% premarket. (webcast)
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  • May 21, 2013, 7:12 AM
    More on Best Buy's (BBY) Q1: Comparable store sales dipped 1.1% during the period, although the retailer did get a strong bounce (+16.3%) from online sales. If the shift of the Super Bowl and the impact from the decision to cut back on certain non-core businesses is backed out, comp sales were flat. Gross profit was down 190 bps to 23.4% due to the retailer's increased investment in pricing and higher promotional stance. The company notes Samsung Experience shops will be a focus in Q2. (PR)
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  • May 21, 2013, 7:01 AM
    Best Buy (BBY): Q1 EPS of $0.32 beats by $0.06. Revenue of $9.38B misses by $1.26B. (PR)
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  • May 21, 2013, 12:05 AM
    Notable earnings before Tuesday’s open: AZO, BBY, DCIX, DKS,HD, MDT, NM, SKS, TJX
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  • May 20, 2013, 5:30 PM
    Notable earnings before Tuesday’s open: AZO, BBY, DCIX, DKS,HD, MDT, NM, SKS, TJX
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  • May 20, 2013, 7:40 AM
    Best Buy's (BBY) store-within-a-store strategy is starting to pay off as wasted (no profits) space for DVD and CD products is converted into creative floor space that can produce profits, according to Janney Montgomery Scott's David Strasser. The analyst sees positive same-store sales for the current quarter.
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  • May 7, 2013, 12:30 PM
    The Internet tax bill (Marketplace Fairness Act) passed a Senate vote 69 to 17 but faces a much bigger obstacle in the House where some members are expected to draw the line on what they call a tax increase. If the bill ultimately succeeds, retail analysts see a marginal benefit for the retailers that are hit the hardest by the "showrooming effect" - Best Buy (BBY -0.8%), Bed Bath & Beyond (BBBY +0.1%), and PetSmart (PETM +0.4%) come to mind - while pegging eBay (EBAY -0.3%) as a company that might have the most to lose.
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  • May 6, 2013, 10:53 AM
    Best Buy (BBY -1.5%) will consider adding clearance sections to its stores, according to Belus Capital Advisors' Brian Sozzi. The retailer already has an online section of its website devoted to clearance offerings for open box and refurbished devices.
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  • Apr. 30, 2013, 9:19 AM
    Shares of Best Buy (BBY) move up 6% in premarket trading after a plan by the company to sell its stake in Carphone Warehouse looks to be a smart move to investors. CEO Hubert Joly's intensified focus on strengthening Best Buy's balance sheet and improving returns on investment is the elixir du jour, but skeptics still point to the retailer's square footage costs in the U.S. as a hurdle to clear.
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  • Apr. 30, 2013, 9:10 AM
    Premarket gainers: HPY +10%. HTWR +9%. ANAD +9%. AVP +8%. UBS +7%. BBY +6%.
    Losers: DCTH -20%. AVEO -16%. NUAN -15%. PBI -10%. MTG -8%. CNH -6%. RVBD -6%. QGEN -5%.
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  • Apr. 30, 2013, 3:58 AM
    Best Buy (BBY) is selling its 50% stake in Carphone Warehouse back to Carphone Warehouse for $775M. BBY paid $2.15B in June 2008 to expand its stake from 3% to 50%, but its plans to roll out Best Buy Europe big box stores were aborted in 2011. BBY will take a non-cash charge of $200M for the sale in Q1. Best Buy, which still operates stores in Mexico, Canada and China, says the move does not signal any similar action in our other international businesses. (PR)
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  • Apr. 10, 2013, 9:48 AM
    Shares of Best Buy (BBY -2.8%) slip lower in early trading. There isn't any alarming news out on the company, but in a week of sluggish indicators on retail sales traders appear to be trimming their holdings a bit with BBY on a +112% YTD tear.
  • Apr. 5, 2013, 6:43 AM
    Best Buy (BBY) is on watch to see if shares can keep rallying after they set a 13-month high yesterday. Analysts have been gushing over the retailer's plan to bring boutiques into its stores - including Janney Capital's David Strasser who declared the "end of showrooming" at Best Buy.
  • Apr. 4, 2013, 12:15 PM
    Shares of Best Buy (BBY +12.4%) have put together a double-digit rally after its plan to set up Samsung mini stores in outlets is well-received. Analysts think it might be just be the tip of the iceberg with the company aiming to let other retailers set up boutiques inside of its stores as well.
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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