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Best Buy Co. (BBY)

- NYSE
  • Aug. 15, 2014, 9:08 AM
    • Video games sales fell 15% Y/Y in July, according to data from the NPD Group. The tally is for sales at physical retail outlets such as GameStop (NYSE:GME), Best Buy (NYSE:BBY), and Target (NYSE:TGT).
    • The comparable to last year was impacted by a dispute between the NCAA and student athletes which prompted Electronic Arts (NASDAQ:EA) to stop producing its popular NCAA football series amid the legal dispute.
    | 2 Comments
  • Jul. 16, 2014, 11:22 AM
    • Shares of Best Buy (BBY +1%) spiked higher before settling back on rumors that an activist investor has taken a stake.
    • Naturally, Carl Icahn's name is in the mix although there's nothing concrete.
    • Despite management's tighter reign on costs over the last six months, there's growing criticism that Best Buy needs to improve results of the global business.
    | 2 Comments
  • Jul. 15, 2014, 1:57 PM
    • Shipments of major home appliances rose 11.3% Y/Y to 7.51M units in June, according to industry tracking.
    • The development could bode well for Whirlpool (WHR +0.3%).
    • On the other side of the equation, electronics and appliance stores (BBY, CONN, HGG) sales rose only 0.1% M/M in June. The annualized rate is well- below the pace of shipments.
    | Comment!
  • Jun. 24, 2014, 6:50 PM
    • Best Buy (BBY) is working with BofA/Merrill to explore options for its Chinese ops, including a sale or partnership, sources tell the WSJ.  Some of them think the business could be worth $300M.
    • Soft Chinese sales were partly blamed for a 10.5% Y/Y FQ1 drop in Best Buy's international sales; the company has been seeing tough competition from Chinese online retailers.
    • Best Buy is a year removed from selling its 50% stake in the U.K.'s Carphone Warehouse back to Carphone for $775M. The company had $2.57B in cash at the end of FQ1, and $1.6B in debt.
    | 1 Comment
  • Jun. 17, 2014, 9:20 AM
    • Best Buy (BBY) could get a lift from demand for 4K TVs, according to Bank of America.
    • Though the ultra-HD TVs with a resolution of 3840 x 2160 pixels are still a niche product, growth in 4K content is expected to help boost awareness with consumers this year.
    • BofA analysts have Best Buy lined up with a Buy rating.
    | 4 Comments
  • Jun. 10, 2014, 8:03 AM
    • Best Buy Co. (BBY) declares $0.19/share quarterly dividend, 11.8% increase from prior dividend of $0.17.
    • Forward yield 2.62%
    • Payable Oct. 2; for shareholders of record Sept. 11; ex-div Sept. 9.
    | Comment!
  • May 23, 2014, 8:29 AM
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  • May 22, 2014, 4:11 PM
    • Calling Q1, "another quarter of strong execution and cost reductions ($860M since Q1 of 2013) and substantial progress on initiatives such as ship from store," analyst Denise Chai reiterates a Buy rating and $36 price target on Best Buy (BBY +3.5%).
    • Her team says Best Buy is "increasingly well-positioned to accelerate EPS growth" Catalysts: 1) A huge improvement in online capabilities; 2) The ability to sell returned and open box merchandise online; 3) Better mobile sales as installment billing fully rolled out; 4) Upside from an underappreciated 4K TV cycle; 5) Greater flow through of Renew Blue cost savings; and 6) The rollout of Athena."
    • Previously: Best Buy lower as soft sales guidance trumps margin improvement
    | Comment!
  • May 22, 2014, 7:34 AM
    • Best Buy (BBY) reports comparable-store sales fell by 1.9% in FQ1 with sales being dragged down by soft demand in the company's international segment.
    • Comparable online sales rose 29% during the quarter on a higher average order and a boost by online orders taken at retail stores.
    • The U.S. business saw its gross profit rate drop 70 bps to 22.7%, with a bulk of the decline attributed to less favorable terms from Best Buy's new credit card agreement. Operating margin was up 20 bps.
    • Comparable sales are forecast to be negative in the low-single digits in both Q2 and Q3 on softness in the mobile phone category.
    • BBY -2.8% premarket
    | Comment!
  • May 22, 2014, 7:01 AM
    • Best Buy (BBY): Q1 EPS of $0.33 beats by $0.13.
    • Revenue of $9.03B (-3.4% Y/Y) misses by $170M.
    • Press Release
    | 2 Comments
  • May 21, 2014, 5:30 PM
  • May 13, 2014, 9:00 AM
    • A disappoint read on retail sales from April's report could reset some expectations in the sector after analysts overestimated consumer demand.
    • The electronics and appliance store category (RSH, BBY, CONN, WHR) saw sales fall 2.3% M/M and 1.5% Y/Y.
    • Clothing and clothing accessory stores (AEO, GPS, BKE, TLYS, ANF, ANN, LB, ARO, GES, CATO) registered a 1.2% M/M and 1.1% Y/Y gain in sales which didn't show the snap-back from soft winter traffic patterns forecast by some.
    • Related ETFs: XLY, XRT, VCR, RTH, RETL, FXD, FDIS, PMR, RCD, PEZ, PSCD
    | 2 Comments
  • Apr. 15, 2014, 10:42 AM
    • Best Buy (BBY -2.6%) has replaced the executive in charge of its U.S. retail stores after he held the position for only seven months, according to the Minneapolis Star Tribune. Shawn Score was a 29-year veteran at the company.
    • Shari Ballard will take over the role on a permanent basis and keep her current duties as head of human resources.
    • Shares of BBY are lower for the day on above-average volume. Weak guidance from hhgregg earlier this morning could be a factor.
    | 1 Comment
  • Apr. 14, 2014, 9:32 AM
    • Retail sales showed some vibrancy in March led by solid gains from building material and garden equipment sellers (HD, LOW) and general merchandise chains (COST, WMT, CASY, TGT). A revision to February's retail sales mark also bodes well for the retail sector.
    • Sales at electronics and appliciane stores (BBY, CONN, HGG) moved in the wrong direction during the month, falling 1.6% M/M and 0.7% Y/Y.
    • Related ETFs: XLY, XRT, VCR, RTH, RETL, IYK, FXD, FDIS, PMR, UGE, RCD, PEZ, SZK, PSCD
    | 3 Comments
  • Mar. 18, 2014, 9:13 AM
    • Shares of GameStop (GME) drop in early trading after Wal-Mart announces it will launch a used video game exchange program.
    • GameStop's used game business is vital to the company as it generates higher margins than the new game model. That could get trickier with the retail beast from Bentonville in the mix.
    • GME -5.5% premarket
    • Shares of Best Buy (BBY) are down 0.6% as the company also has a little skin in the used game market.
    | 1 Comment
  • Mar. 12, 2014, 10:53 AM
    • SolarCity (SCTY +4.6%) will pitch its solar installation/electricity services to Best Buy (BBY -1.4%) customers at 60 stores in California, New York, Arizona, Oregon, and Hawaii.
    • SolarCity, which already has a similar deal with Home Depot, will have onsite reps evaluate the feasibility of an installation with the help of satellite imagery, as well as discuss pricing and handle sign-ups.
    • For Best Buy, the SolarCity deal is the latest in a string of partnerships involving dedicated store space for a company's products/services. Other partners include Apple, Microsoft, and Samsung.
    | 16 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