Investment Thesis
The future growth of Best Buy (NYSE:BBY) has been a source of concern for investors. Consumer behaviour has been shifting to online shopping as a result of the pandemic, creating an opportunity for BBY
Best Buy Transforming To Its Online Sales
Summary
- BBY's revenue growth has been impressive despite discontinuing operations from Mexico.
- Management anticipates that there will be no additional material charges associated with exits in Mexico, as all stores have already been closed.
- BBY's domestic and international sales have increased as the company has made significant shifts to online sales and improved service for their electronic products.
- BBY is well positioned to capitalize on the growing demand for technology and electronics.
- Increased both its top and bottom lines on a quarterly and year-over-year basis and trades at a discount to its peers.
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Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in BBY over the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
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