Dec. 9, 2014, 8:36 AM
- Shares of Best Buy (NYSE:BBY) are lower in early trading as a crisis at Conn's casts a shadow over big box retail.
- Some retail analysts are calling the knee-jerk reaction a little overwrought considering Best Buy hasn't been as aggressive with its financing program.
- BBY -1.9% premarket vs. S&P 500 -0.7%. Shares of hhgregg (NYSE:HGG) haven't opened yet but could see some nervous trigger fingers also.
Dec. 4, 2014, 7:25 AM
- Best Buy (NYSE:BBY) plans to exit China after running into a number of challenges competing in the region.
- The company's Jiangsu Five Star Appliance unit will be sold to Zhejiang Jiayuan Real Estate Group for an undisclosed amount.
- Last year, Best Buy sold off its European business in a move that took some pressure off its bottom line.
Dec. 2, 2014, 1:05 PM
- A technical breakdown on the performance of retail e-commerce sites for Black Friday and Cyber Monday reveals some winners and losers.
- Sears (NASDAQ:SHLD), Costco (NASDAQ:COST), Office Depot (NASDAQ:ODP), REI, Saks and NewEgg drew high marks for using responsive web design to create a seamless mobile experience for users.
- Costco and Sears were also on a list of fastest sites - along with Barnes & Noble (NYSE:BKS), W.W. Grainger (NYSE:GWW), Williams-Sonoma (NYSE:WSM), and Hennes & Mauritz (OTCPK:HMRZF).
- The extended holiday was more uneven for Best Buy (NYSE:BBY), Staples (NASDAQ:SPLS), Cabela's (NYSE:CAB), and Forever 21 which had painful outages or slow performance times.
- J.C. Penney (NYSE:JCP) was reported to have had a temporary mobile glitch which caused a slowdown, but also ended up on a list of top website performers.
Dec. 2, 2014, 2:42 AM
- This year's Cyber Monday sales grew by much less than expected, according to data from IBM, as online retailers began their web promotions and sales during and even before the Thanksgiving weekend.
- Cyber Monday sales, which were projected to grow between 13%-15%, only reported an 8% rise.
- The results underline the waning importance of Cyber Monday and Black Friday, which until a few years ago kicked off the holiday shopping season.
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Dec. 1, 2014, 1:40 PM| Dec. 1, 2014, 1:40 PM | 10 Comments
Dec. 1, 2014, 9:35 AM
Dec. 1, 2014, 7:50 AM
- Comscore estimates e-commerce spending rose 32% on Thanksgiving Day to $1.01B and 26% on Black Friday to $1.51B.
- Most retail analysts are sticking with their forecast for 4.0%-4.5% growth for holiday sales this year, with early shopping and e-commerce making up for a dip in store traffic on Black Friday.
- Apparel sellers in particular came out with a stronger online push this year.
- Related stocks: OTCPK:AMZZ, EBAY, AEO, ANF, JCP, JNY, JWN, KSS, LB, M, URBN, PSUN, BKE, WTSL, GPS, FDX, UPS, DKS, BBY, LULU, KATE, VRA, SPLS.
Nov. 28, 2014, 11:39 AM
- Best Buy's (BBY +1.8%) website is back up and running.
- In a statement to the media, Best Buy said a spike in mobile traffic caused its ill-timed outage earlier today.
- The company has been touting its price-match guarantee this holiday season which is believed to be creating large interest with shoppers.
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.
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
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
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
Nov. 20, 2014, 7:07 AM
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.
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