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Best Buy Co. (BBY)

  • Nov. 28, 2014, 10:16 AM
    • Best Buy's (BBY +1.8%) website is down at the moment.
    • A message on the retailer's home page to Black Friday consumers: "Check back soon."
    • Shares of BBY have trimmed off some of their early gains, but could feel a sharper sting if the outage minutes stretch into hours.
    | 1 Comment
  • Nov. 24, 2014, 12:01 PM
    • Some data mining by WalletHub gives a sneak peek at which retailers are above and below the sector average of 39.5% on Black Friday discounting off of typical pricing.
    • Retailers with above-average discount activity: J.C. Penney (NYSE:JCP) 65.44%, Macy's (NYSE:M) 63.52%, Rite Aid (NYSE:RAD) 53.34%, Sears (NASDAQ:SHLD) 50.19%.
    • Retailers with below-average discount activity: Costco (NASDAQ:COST) 21.14%, Big Lots (NYSE:BIG) 25.24%, Amazon (NASDAQ:AMZN) 26.10%, Best Buy (NYSE:BBY) 32.08%.
  • Nov. 21, 2014, 9:06 AM
    • Best Buy (NYSE:BBY) declares $0.19/share quarterly dividend, in line with previous.
    • Forward yield 2.00%
    • Payable Dec. 31; for shareholders of record Dec. 11; ex-div Dec. 9.
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  • Nov. 20, 2014, 10:26 AM
    • Shares of Best Buy (BBY +7.4%) rally to their highest level since January after the company's earnings report and guidance satisfies.
    • The earnings call was a little bit uneven with management making a solid case that the Best Buy turnaround was picking up steam, but also warning on product shipments and pricing on some electronics.
    • Execs cleared up that specialized customer service reps showing up in its stores are Best Buy employees and not 3rd-party personnel.
    • The company doesn't face the same number of impediments in selling mobile installment plans that it did a year ago which could help boost the Q4 comp.
    • Best Buy earnings call webcast
    | Comment!
  • Nov. 20, 2014, 7:17 AM
    • Best Buy (NYSE:BBY) reports comparable-store sales rose 2.2% in FQ3, led by a brisk 3.2% rise in the U.S.
    • The comp for the online business was +21.6%, compared to +15.1% for the same period a year ago.
    • U.S. revenue mix: Consumer electronics 29%, computers/mobile 49%, entertainment 7%, appliances 8%, services 6%, other 1%.
    • U.S. gross margin rate -50 bps to 23.0%, due in part to pressure in the mobile business and tablet promotions.
    • International gross margin rate -50 bps to 20.7%.
    • BBY +2.7% premarket
    | Comment!
  • Nov. 20, 2014, 7:07 AM
    • Best Buy (NYSE:BBY): Q3 EPS of $0.32 beats by $0.07.
    • Revenue of $9.38B (+0.5% Y/Y) beats by $270M.
    • Press Release
  • Nov. 19, 2014, 5:30 PM
  • Nov. 18, 2014, 10:18 AM
    • Piper Jaffray comes up with an eclectic mix as part of its five best retail stock picks for the holiday season.
    • Best Buy (NYSE:BBY): A strong electronics lineup this year bodes well for Best Buy. Ultra HD 4K TVs, iPhone 6s, and GoPro products top many wish lists.
    • Coty (NYSE:COTY): A focus on color cosmetics sets up Coty for market share gains this holiday season.
    • Del Frisco's Restaurant Group (NASDAQ:DFRG): A bounce in consumer and business expense spending should help this high-end dining name, says Piper.
    • Michael Kors (NYSE:KORS): The MK brand is as hot as ever. Consumers in a survey by Piper ranked it as the top fashion brand.
    • Nordstrom (NYSE:JWN): The department store operator's best in-class e-commerce operation stands out.
    | Comment!
  • Nov. 11, 2014, 9:04 AM
    • Best Buy (NYSE:BBY) announces it will open at 5:00 p.m. on Thanksgiving Day which will give it an hour jump on some of its rivals. Most stores will stay open until 1:00 a.m.
    • The retailer is making a marketing push on 4K Ultra HD Smart TVs which is a margin-boosting category when accessories and service plans are factored in.
    • Best Buy has been a favorite pick of some retail analysts to surprise this holiday season with a sales gain over the industry average (4.0%-4.5%).
    | 1 Comment
  • Oct. 31, 2014, 1:21 PM
    • The odds aren't good for a national roll-out of smartphone payments solution CurrentC, according to USA Today's Jeff Graham.
    • The retail consortium admitted to a hacking incident earlier this week and has lost momentum with Apple Pay dominating headlines.
    • Inside the network, Meijer broke ranks with fellow MCX members by moving to accept Apple Pay with its hardware.
    • CurrentC was created to help the retail industry bypass credit card fees.
    • Partial list of MCX members: LUV, GPS, DNKN, KR, TGT, WMT, BBBY, KSS, SHLD, WEN, BBY.
  • Oct. 29, 2014, 2:42 PM
    • Best Buy (BBY -1%) is well-positioned on the operational side for the holiday season, according to Citi.
    • Improved distribution channels should help Best Buy navigate any weather or logistical issues that arise deep into the holiday period.
    • The investment firm also notes that all 1.4K Best Buy U.S. locations are set up with an option for customers to pick up online orders from stores.
    | Comment!
  • Oct. 27, 2014, 4:59 AM
    • Rite Aid (NYSE:RAD) and CVS (NYSE:CVS) have disabled Apple's (NASDAQ:AAPL) mobile wallet system, Apple Pay, from working in their outlets across the U.S.
    • The reason wasn't immediately clear, the NYT reports, although it might have something to do with the drug retailers being part of MCX, a consortium of merchants that is developing an unfinished rival product called CurrentC.
    • A major question is whether other MCX retailers, which include Best Buy (NYSE:BBY), Gap (NYSE:GPS) and Walmart (NYSE:WMT), will also cut Apple, and/or whether consumers would revolt at such a move.
    • Apple has been working with MasterCard (NYSE:MA) on its system.
  • Oct. 7, 2014, 8:23 AM
    • Best Buy (NYSE:BBY) might at least take a look at buying Conn's (NASDAQ:CONN), theorizes Barron's Ben Levisohn.
    • The retail chain has a deep penetration in the southern part of the U.S. where Best Buy's footprint is a bit thinner.
    • Shares of Conn's are down 59% YTD, although much of the concern from investors is focused on the credit side of the business.
  • Oct. 7, 2014, 8:05 AM
  • Sep. 24, 2014, 8:13 AM
  • Sep. 9, 2014, 7:15 PM
    • RadioShack (NYSE:RSH) will release its financial results Thursday morning, and Wedbush analyst Michael Pachter sees a big, big miss, projecting a $0.66/share loss vs. Street consensus for a $0.36 loss, on sales of $762M vs. $893M consensus.
    • The firm says brick and mortar electronics retailers such as RSH and Best Buy (NYSE:BBY) will see persistent structural decline as internet sales continue to take share; it sees continuing evidence of traffic deterioration and lower productivity for BBY’s retail foot print, while RSH has less financial flexibility to invest in price competitiveness.
    • Believing bankruptcy is imminent, Pachter lowers his price target for RSH to zero.
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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