Thu, May 21, 10:04 AM
- Best Buy (BBY +4.6%) sees flat to low single-digit domestic revenue growth in Q2.
- International sales are expected to fall 30% to 35% during the period on a reduced store count.
- Customer retention rate was a major focus from management during the call. The company expects to hold on to customers despite store closings.
- Execs said drivers of P&L improvement are SG&A tightening, focused marketing, and strategic tech investments
- Categories showing strength beyond expectations include "iconic" phones, large screen TVs, and major appliances/
- Previously: Best Buy beats by $0.08, beats on revenue (May. 21 2015)
- Previously: Best Buy pops after earnings crusher (May. 21 2015)
- Earnings call webcast
Thu, May 21, 9:16 AM
Thu, May 21, 7:16 AM
- Sales in Best Buy's (NYSE:BBY) international segment fell to $668M in Q1.
- Domestic segment revenue +1.4% to $7.89B
- Domestic comparable-store sales were up 0.6% with a new installment billing program contributing130 bps of growth.
- Domestic gross profit rate +120 bps to 22.7%.
- International gross profit rate -220 bps to 23.8%.
- Consolidated GAAP operating income rate -140 bps to 1.0%.
- Previously: Best Buy beats by $0.08, beats on revenue
- BBY +9.5% premarket.
Fri, Apr. 24, 7:50 AM
- JPMorgan downgrades Best Buy (NYSE:BBY) to a Neutral rating after having the retailer previously slotted at Overweight.
- Sales at Best Buy are running below the expectations built into share price, reasons JP.
- The investment firm cut its price target on the stock to $40 from $45.
- BBY -1.88% premarket to $35.45.
Tue, Mar. 3, 7:34 AM
- Best Buy (NYSE:BBY) reports revenue in its domestic segment increased 3.2% to $12.697B during Q4.
- Comps were up over 2% with demand for TVs a positive factor.
- International segment sales -12.4% to $1.512B.
- Sales of tablets and revenue from services were lower during the quarter.
- Domestic online revenue +9.7% to $1.72B - a deceleration from previous quarters.
- Domestic gross profit rate +120 bps to 21.2%.
- International gross profit rate flat at 21.7%.
- Operating income rate +250 bps to 5.7%.
- Previously: Best Buy set capital allocation plans
- Previously: Best Buy beats by $0.13, misses on revenue
- BBY +4.22% premarket.
Thu, Jan. 15, 12:45 PM
Thu, Jan. 15, 9:16 AM
Thu, Jan. 15, 7:41 AM
- Shares of Best Buy (NYSE:BBY) slip in early trading as the company takes a "cautionary" stance on domestic sales trends outside of the holiday period which saw the introduction of high-profile products (mobile, 4K TVs).
- Enterprise comparable sales growth in the first half of FY16 is forecast to be flat to negative low-single digits.
- The company's operating income rate is expected to be down 30 bp to 50 bps over the same period.
- BBY -6.9% premarket to $37.15.
Thu, Jan. 15, 7:13 AM
- Best Buy (NYSE:BBY) reports domestic comparable-store sales increased 2.6% during the holiday period.
- Comparable online sales were up 13.4% vs. the +23.5% pace of a year ago.
- The international comp was down 3.6% for the two-month period.
- Demand in the electronics categories was previously reported to lag overall holiday sales.
- Previously: Holiday retail sales something of a revelation (Jan. 08 2015)
- BBY -2.4% premarket.
Tue, Jan. 6, 10:11 AM
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. 1, 2014, 9:35 AM
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.
Aug. 26, 2014, 7:33 AM| 2 Comments
Aug. 26, 2014, 7:14 AM
- Best Buy (NYSE:BBY) reports comparable-store sales fell 2.0% in FQ1 on continued weakness in the consumer electronics category.
- Comparable online sales +22%.
- International comparable-store sales -6.7%.
- Domestic gross profit rate -390 bps to 23.4%, overall -340 bps to 23.1%.
- Domestic SG&A expense ratio -180 bps to 20.1%, overall -160 bps to 20.4%.
- Inventory +2.7% to $5.583B.
- BBY +3.2% premarket
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
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