BBY - Best Buy Co., Inc.
89.70 -0.24 (-0.27%)
After hours: 7:59PM EST
| Previous Close | 88.95 |
| Open | 89.45 |
| Bid | 89.52 x 2900 |
| Ask | 89.70 x 800 |
| Day's Range | 88.35 - 90.32 |
| 52 Week Range | 56.39 - 91.83 |
| Volume | 3,087,933 |
| Avg. Volume | 2,595,606 |
| Market Cap | 23.274B |
| Beta (5Y Monthly) | 1.15 |
| PE Ratio (TTM) | 15.89 |
| EPS (TTM) | 5.66 |
| Earnings Date | Feb 24, 2020 - Mar 01, 2020 |
| Forward Dividend & Yield | 2.00 (2.25%) |
| Ex-Dividend Date | Dec 14, 2019 |
| 1y Target Est | 87.55 |
- Bloomberg
Best Buy Looks Into Allegations of Misconduct by CEO
(Bloomberg) -- Best Buy Co. said it’s investigating Chief Executive Officer Corie Barry’s personal conduct, a potential blow to the electronics retailer that comes eight years after a former CEO resigned amid a similar probe.The board received an anonymous letter with the allegations against Barry, according to a statement. Best Buy hired the law firm Sidley Austin LLP to conduct an independent review and encouraged “the letter’s author to come forward and be part of that confidential process,” the company said.“The board has my full cooperation and support as it undertakes this review, and I look forward to its resolution in the near term,” Barry, who is 45, said in the statement that was emailed to Bloomberg News. The company declined to comment beyond the statement.Earlier, the Wall Street Journal reported that the Barry was in a romantic relationship with former Senior Vice President Karl Sanft, citing a copy of the anonymous letter that it said was delivered Dec. 7. The letter alleges the relationship occurred before she took over as CEO last year, the Journal said.Best Buy shares fell as much as 2.3% after the close of regular trading before paring most of the decline. Sanft could not immediately be reached for comment when contacted on LinkedIn and email.If the probe leads to Barry’s departure, her predecessor Hubert Joly, who’s currently leading the board as executive chairman, could return as CEO on an interim basis, according to Michael Pachter, an analyst at Wedbush Securities.“I am not worried about future of the company at all,” he said. “But this does speak to something culturally odd about Best Buy. I just don’t get it.”It’s not the first time Best Buy has had issues related to office romances. Former CEO Brian Dunn resigned in 2012 after an inappropriate relationship, with the founder stepping down as chairman shortly afterwards for failing to tell the board.Holiday ResultsThe announcement could be a distraction for the company as it prepares to release results for the all-important holiday period. The year-end shopping season was marred by a poor selection of electronics goods, experts say, which has dented the results of other retailers. Best Buy, given its market position, may be especially affected by the trend.The company’s stock gained 66% last year -- more than double the return of the S&P 500 Index -- as the company expanded its array of services designed to help consumers integrate electronics in their homes.Barry took over as CEO last year after serving as chief financial and strategic transformation officer. She helped create plans to find new revenue streams, including an in-home advisory program she spearheaded to help customers with any tech-related issue. That focus on services, coupled with expanded e-commerce operations, have helped Best Buy to bounce back after years of losing market share to Amazon.com Inc. and other competitors.(Corrects spelling of CEO in final paragraph.)\--With assistance from Jordyn Holman and Gerald Porter Jr..To contact the reporters on this story: Jonathan Roeder in Chicago at jroeder@bloomberg.net;Matthew Boyle in New York at mboyle20@bloomberg.netTo contact the editors responsible for this story: Sally Bakewell at sbakewell1@bloomberg.net, Cécile DauratFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- Benzinga
Best Buy Investigating Allegations Of Improper Relationship Between CEO, Company Exec
Best Buy Co Inc (NYSE: BBY ) shares fell in Friday's after-hours session after the retailer's board said it's investigating an anonymous letter accusing CEO Corie Barry of misconduct. The Dec. 7 letter ...
- American City Business Journals
Best Buy launches investigation into CEO Corie Barry
Best Buy Co. CEO Corie Barry is under investigation by the retailer's board after it received an anonymous letter about an inappropriate romantic relationship she was having with another executive before she became CEO in June last year.
- Reuters
Best Buy starts investigation into CEO's personal conduct
The Wall Street Journal reported that the letter, dated Dec. 7, claimed that Barry had a romantic relationship for years with former Best Buy senior executive Karl Sanft. Both Barry and Sanft joined the firm more than two decades ago. While Barry became the finance head in 2016 and CEO in June last year, Sanft, according to his LinkedIn profile, was senior vice president of U.S. retail operations until March last year.
- MarketWatch
Best Buy stock drops after report of CEO inquiry
Best Buy Co. Inc. shares declined after a report late in Friday's session that the company is investigating its chief executive after an anonymous letter accused him of an inappropriate romantic relationship. The Wall Street Journal reported just before the close that the board was investigating a letter received Dec. 7 that accused CEO Corie Barry of having a yearslong relationship with Karl Sanft, a former senior vice president at the electronics retailer, before she was named to the top job last June. Sanft is now chief operating officer for 24 Hour Fitness Worldwide Inc. Best Buy stock dropped from an intraday high of $90.32 to $89.90 in the last 20 minutes of Friday's session, then declined another 1% in after-hours action immediately following the end of trading.
- Zacks
Helen of Troy, L Brands, Best Buy, Builders FirstSource and Photronics highlighted as Zacks Bull and Bear of the Day
Helen of Troy, L Brands, Best Buy, Builders FirstSource and Photronics highlighted as Zacks Bull and Bear of the Day
- Zacks
Is Best Buy (BBY) a Great Value Stock Right Now?
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
- Financial Times
Best Buy investigates misconduct claims against CEO
The New York-listed retailer said it had retained an outside law firm, Sidley Austin, to conduct a review after it received an anonymous letter that contained the allegations against her. The existence of the letter was first reported by the Wall Street Journal, which said that it alleged she had an inappropriate romantic relationship with a fellow executive. “Best Buy takes allegations of misconduct very seriously,” the company said in a statement on Friday.
- MarketWatch
Target’s holiday weakness in electronics drags down Best Buy’s stock
Target’s stock fell 7% after the retailer said it was challenged in key holiday season categories, like electronics and home.
- MarketWatch
Best Buy, toy makers and Walmart stocks fall in wake of Target's disappointing sales
Shares of Best Buy Co. Inc. dropped 2.8% in premarket trading Wednesday, after the consumer electronics retailer appeared to suffer from the fallout of Target Corp.'s disappointing holiday-period sales performance. Target said earlier same-store sales during the November/December period rose 1.4%, "below our expectations," given softer-than-expected performance in electronics, toys and portion of home assortment. Also suffering collateral damage, shares of toy makers Hasbro Inc. fell 2.2% and Mattel Inc. shed 3.0%. Among Target competitors, shares of Walmart Inc. declined 1.9% and Kohl's Corp. slipped 0.9%.
- Yahoo Finance
Target's disappointing holiday season reveals one big challenge for 2020
Target delivers lackluster holiday season sales results.
- Zacks
Tilly's (TLYS) Stock Dips on Dismal Holiday Sales & View Cut
Tilly's (TLYS) reports soft comparable store sales for the nine weeks, ended Jan 5. This leads management to trim the fourth-quarter outlook.
- Zacks
Has Best Buy Co. (BBY) Outpaced Other Retail-Wholesale Stocks This Year?
Is (BBY) Outperforming Other Retail-Wholesale Stocks This Year?
- Zacks
Best Buy Hits New 52-Week High: Is There More Room to Run?
Best Buy's (BBY) focus on developing omnichannel capabilities, supply chain and cost-containment efforts along with strengthening partnerships with vendors bode well.
- Zacks
Is Best Buy (BBY) a Profitable Pick for Value Investors?
Best Buy (BBY) stock may be a good choice for value-oriented investors right now from multiple angles.
- Yahoo Finance
Apple could be close to a $2 trillion company in 2020: top strategist
Apple's stock still looks ripe for a lot more upside. This Apple insider explains why.
- Zacks
Here's Why Casey's (CASY) Stock Appears Promising Right Now
Casey's (CASY) solid growth endeavors, including price and product optimization strategy, value creation plan such as fleet card program, and digital efforts bode well.
- Zacks
Lowe's (LOW) Omnichannel and Pro Customer to Lift Sales
Strength in the Pro business and solid digital efforts are likely to help Lowe's (LOW) keep the stellar show on.
- MoneyShow
Top Picks 2020- Best Buy BBY
I'll admit it. I set foot in our local Best Buy (BBY) on 2019's Black Friday and the place was a madhouse! Is that anecdotal evidence? Sure, asserts Mike Larson, editor of Safe Money Report.
- Zacks
3 Stocks with Solid Entry Points to Consider for 2020
Geopolitcal headwinds sent stocks lower on Friday as US officials confirmed that President Trump's airstrike killed Iran's top military commander.
- Zacks
Best Buy (BBY) Stock Moves -0.15%: What You Should Know
Best Buy (BBY) closed the most recent trading day at $87.18, moving -0.15% from the previous trading session.
- Zacks
Lowe's (LOW) Begins Spring Preparations, Ramps Up Hiring
Lowe's (LOW) gears up for a busy spring season with plans to hire more than 53,000 workers.
- Yahoo Finance Video
Best Buy to probe allegations against CEO: WSJ
Best Buy's board is investigating allegations that Chief Executive Corie Barry had an inappropriate romantic relationship with a fellow executive, who has since left the electronics retailer reports the Wall Street Journal. The allegations were sent to the board in an anonymous letter dated Dec. 7.
