Change of control severance provision was announced for the top executives. The 8K that was released prior to todays market close outlines that certain officers of SVU will receive severance benefits in the event that they lose their jobs following a change of control. The implication is that SVU is a potential takeout target.
Ha. I bought at $12.39, judging by your brain-dead posts, you most likely shorted at $39-40...who's the idiot?
No...but you need to understand that insider sales of stock do not dilute the share count, that's all. Moreover, sales declines do not lead to BBY "losing money last year" as you indicated in another post.
As I've already mentioned, Best Buy closed 47 big box stores in FY 2013. Additionally, they sold their European operations...of course sales are going to be down Y-o-Y!
If you're basing your short position on declining sales growth without understanding company operations (store closures, market divestures, cash flow generation, valuation comps)...you're in a whole lot of trouble.
I can see by your grammar that english is not your first language but you should understand how the financial markets work before making these claims. You see, these are all secondary shares...no dilution.
They closed 47 U.S. big box stores...of course sales will go down. But - contrary to your claim - the company has NEVER posted a negative cash flow year.
Friend, no one really minds your non-sensical posts about single moms but now you're simply lying.
For the record in FY 2013, Best Buy reported free cash flow of $965M.
"Adjusted free cash flow FY13 was $965 million versus the most recently provided guidance of $500 million. This better-than-expected outcome was primarily driven by an aggressive inventory reduction plan and an intense focus on working capital and cash flow management initiatives that were both implemented after the company’s last financial press release, in addition to the impact of better-than-expected Q4 FY13 earnings."
Best Buy will report its fiscal 3Q results on November 19. These are earnings from August through October.
Examining the U.S. Census Bureau's monthly sales data for the electronics and appliance category for August and September reveals a potentially strong quarter of sales growth for BBY:
August 2013 - electronics & appliance store sales up 0.6% from July 2013 and up 1.8% from August 2012
September 2013 - electronics & appliance stores sales up 0.7% from August 2013 and up 1.8% from September 2012
Though October may see a slowdown in overall consumer spending given the uncertainty related to the government shutdown, new product launches from Apple, Samsung, Sony, Microsoft and others in the electronics sector in September and October may continue to divert discretionary sales to the electronics stores benefitting Best Buy.
Though September sales were down 0.1% in September (the first negative reading in 6 months), sales at electronics stores posted a strong 0.7% gain.
Ha. You're right...they can't compete with AMZN.
No company loses money like AMZN.
Most likely its up today due to the strong quarterly results of Samsung and Microsoft, two of its largest in-store constituents.
Let me see if I understand your logic....you go to a Best Buy for - say - a new TV that you saw on Amazon. You find it there, ask a few more questions on features then when you're about to leave you realize that BBY has been matching AMZN's prices since March.
So instead of taking it home with you right then and there for the same price that AMZN offers....you go back home, buy it on AMZN, pay for shipping, wait 2 to 3 days then hope that its not damaged during shipping...?
Doesn't seem like a smart thing to do nowadays, right?
And on the fourth day, he - like the shorts before him - will loseth all his money...
Well...most of the folks that I know would never buy any consumer electronics over $250 on-line for fear of damage and the hassle of returning...
Isn't just easier to walk or drive to a BBY store, get some question answered, buy it there since it matches prices, take it home immediately and if there's any problems just return it and get another one...all in the same day?