Mar. 4, 2014, 3:08 PM
- Best Buy (BBY -1.5%), hhgregg (HGG -5.2%), and Conn's (CONN -0.5%) all trade lower as the decline of RadioShack continues to play out and shine a harsh spotlight on the sector.
- Some retail analysts think the stocks are being punished unfairly with all three retailers well-ahead of RadioShack in terms of evolving their business strategy.
Feb. 28, 2014, 8:10 AM
Feb. 27, 2014, 9:09 AM
Feb. 27, 2014, 8:20 AM
- Best Buy (BBY +7.8%) swings to a net profit of $293M from a loss of $409M a year earlier, which included a goodwill impairment of $822M.
- Comparable store sales -1.2%
- Gained market share, due to its "strategy to be price competitive" and to improve the customer experience.
- Cost cuts help offset the negative impact of BBY's mobile warranty and the new credit card agreement, with the affect of the latter higher than expected.
- In H1, Best Buy expects total comparable-store sales to drop slightly, similar to Q4.
- Discrete year-over-year income tax related items will hurt FY 2015 results. (PR)
Feb. 27, 2014, 7:04 AM
Feb. 27, 2014, 12:05 AM| Comment!
Feb. 26, 2014, 5:30 PM| 1 Comment
Feb. 26, 2014, 1:49 PM| 4 Comments
Feb. 14, 2014, 9:50 AM
- JPMorgan analyst Thomas Lee thinks personal spending in the U.S. will hold up enough to give a boost to consumer stocks.
- He has seven large cap consumer stocks lined up as recommended picks for investors to buy. The list runs the gamut from beaten-down retailers to media giants.
- JPM's top consumer stocks: Best Buy (BBY), Coach (COH), Disney (DIS), Lowe's (LOW), Macy's (M), MGM Resorts (MGM), Viacom (VIAB).
Jan. 30, 2014, 12:46 PM
- Shares of Best Buy (BBY -1.1%) slip after dismal guidance from hhgregg (HGG -17.8%) throws a scare into investors.
- hhgregg CEO Dennis May called the big box atmosphere "intensely promotional" and noted his company declined to participate in the price slashing.
- The 11% drop in comp sales at hhgregg suggest Best Buy might have picked up some incremental market share in Q4.
Jan. 22, 2014, 1:38 PM
- Overall retail space could be reduced by between one-third to one-half over the next ten years, forecasts industry watcher Michael Burden.
- The harsh assessment could indicate the round of store closings from Sears Holdings (SHLD), J.C. Penney (JCP), and Macy's (M) is only the tip of the iceberg. Watch for American Eagle Outfitters (AEO), Aeropostale (ARO), Dillard's (DDS), Nordstrom (JWN), and Kohl's (KSS) to enact some logical downsizing, while even Wal-Mart (WMT) and Best Buy (BBY) could surprise with some paring.
- Analysts think stores at malls will be shuttered faster than open air outlets.
- What to watch: Vibrant brands such as Michael Kors (KORS), Lululemon (LULU), and Vince (VNCE) could shift into a standalone mode as consumer demand stays strong for their on-trend products, but mall metrics trend weaker.
Jan. 16, 2014, 5:11 PM| 7 Comments
Jan. 16, 2014, 12:47 PM
Jan. 16, 2014, 9:10 AM
Jan. 16, 2014, 8:37 AM
- Execs with Best Buy (BBY) did little to shore up confidence in the retailer during their conference call this morning.
- CEO Hubert Joly said the company had to live up to its early promises to customers which left it in a predicament when peers dropped prices.
- The tone of the call is such that the company seems to be indicating its wants get back to its service value-added proposition which sets it apart from Amazon and stop playing the cut-throat game of protecting every basis point of market share.
- BBY -29.5% premarket
- Holiday sales conference call webcast
Jan. 16, 2014, 7:37 AM
- Best Buy (BBY) blames a runaway promotional train for driving holiday sales lower on weak pricing it was cornered into by early promises.
- Sales gains in the appliance and gaming categories were more than offset by the widespread weakness seen in other areas.
- On top of its promotional headaches, Best Buy says it also faced supply constraints on select products during the period.
- Online sales rose 23.5% for the holiday season.
- Quick analyst take: Expect store closures.
- BBY -32.4% premarket to $25.39.
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