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Best Buy Co., Inc. Message Board

  • daledeebs85032 daledeebs85032 Feb 26, 2014 2:40 PM Flag

    well 2000 useless managers getting the axe is a good thing.

    walk into any best buy and there are 14 managers ,time to put one manager per store.

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    • The only thing that BBY is telling us going into the earnings is that whatever they are currently doing is not working.

      Do you think that if they were hitting record numbers that they would be firing "2000 managers"?

      This reminds me of when LULU came out 2 days before earnings and said that they had replaced the CEO... 2 questions I asked myself, A) why pre-release that info and not wait 2 more days B) That meant (in their opinion) the current CEO had dropped the ball. Obviously I went short before earnings and then there was a 20% drop from 70 to 60.

      I think that best case scenario bby takes a 15% dive on tomms earnings to the level that is was 2-3 weeks ago. Worst case scenario, we see negative EPS, and the shares touch 17 a share.

      Keep in mind that firing, closing and shrinking are not what investors look for.

      • 2 Replies to goldentouchbronx
      • I don't expect much from BBY tomorrow but take a look and TGT, ANF and a bunch of other retailers lately. Their releases have been anything but stellar yet shares have rebounded nicely. The XLF bottomed around Feb 3rd and it appears that the market is betting on spring showing up and that there will be some pent up demand after almost three brutal months of weather across a big chunk of the US. It appears that the market is giving a pass to retailers if the numbers are close or as in TGT's today not as bas as expected. I've been buying TGT lately so I loved today. So if BBY comes close or beats on EPS and is close on revenue don't be surprised if shares go higher. There is another X factor Thursday if Yellen says all the right things you may see another rally like her last testimony. I do agree that firing these 2000 managers seems like a last minute measure but they usually make these announcements during the earning's release. I think two things may happen....either they miss slightly and shares drop modestly or they come in line and you see a $1-$2 rally. The late day action and after hours moves make me wonder if somebody know something.

      • ten.mill Feb 26, 2014 8:42 PM Flag

        I agree with you. Firing managers is not a good sign. Looks like they are trying to cut more costs. Also, managers salaries are higher than regular employees. Seems like they are trying to cut a lot of expenses

        Sentiment: Sell

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