|Bid||54.4300 x 700|
|Ask||54.4800 x 100|
|Day's Range||53.6101 - 54.7100|
|52 Week Range||37.1000 - 63.3200|
|PE Ratio (TTM)||14.47|
|Dividend & Yield||1.36 (2.58%)|
|1y Target Est||N/A|
The fact that Sears Holdings Corp (NASDAQ:SHLD) is in trouble isn’t exactly a veiled secret. Amazon.com, Inc. (NASDAQ:AMZN) gets the bulk of the credit for Sears failure, though not because it competes head-to-head with Sears in most product categories. Every company from Abercrombie & Fitch Co. (NYSE:ANF) to Zales not only benefited from the Amazon effect, but copied some of Amazon’s online success for themselves as they simultaneously reconfigured their brick and mortar presence to operate in the modern era. Every company except Sears, that is.
In Tuesday morning trade, BBY stock dropped big ahead of the company’s first Investor Day in 5 years. BBY stock fell more than 8% in response to the long-term guidance. As Best Buy CEO Hubert Joly pointed out, after the company’s last Investor Day in November 2012, BBY stock dropped some 20% over the next couple weeks to $11 and change.
The company set new financial targets with an eye toward investing in growth, and the short-term thinkers in the market didn't seem happy.