70.98 +0.08 (0.11%)
After hours: 5:43PM EDT
|Bid||70.89 x 1400|
|Ask||70.97 x 1200|
|Day's Range||69.71 - 72.86|
|52 Week Range||51.61 - 79.90|
|PE Ratio (TTM)||21.73|
|Forward Dividend & Yield||1.80 (2.31%)|
|1y Target Est||N/A|
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Retail earnings will continue on Thursday with Best Buy and The Gap reporting results as volumes remain light ahead of the holiday weekend in the U.S.
Inc. believes it needs to stock more inventory if it wants to sell more electronics. The electronics giant reported its inventories rose ahead of even its fast-surging sales in its most recent quarter, as the company sought to drive more sales by having goods in place both online and in its physical stores even at the expense of higher supply-chain costs. Best Buy reported overall sales rose 6.8% to $9.12 billion, part of a strong report issued Thursday that showed Best Buy growing at a sharp rate on improving consumer confidence and a lineup of popular new products.
Best Buy[ticker symb=BBY] stock plunged on weak profit projections despite the consumer electronics and appliance retailer easily clearing Q1 earnings estimates. Earnings shot up by 37% to 82 cents per share, while revenue climbed 7% to $9.109 billion. Those beat views for EPS of 75 cents and sales of $8.785 billion according to Zacks Investment Research. Same-store sales rose 7.1%,...
finished lower Thursday after Donald Trump called off a summit meeting planned for next month with North Korea leader Kim Jong Un. fell 6.6% despite quarterly profit beating Wall Street estimates. Weekly U.S. jobless claims rose 11,000 to 234,000, a seven-week high.
Best Buy Co. Inc. store traffic is robust, though sales online have slowed. Shares of the consumer electronics retailer sank 6.8% in Thursday trading after the company reported robust same-store sales growth of 7.1%, but online sales growth slowed. “The only two ‘yellow flags’ we see are gross margin running 10 basis points below consensus and a deceleration in online revenue growth from a 20%+ run rate in recent quarters to 12% in F1Q19,” wrote Raymond James analysts.
Strong demand for mobile phones and appliances pushed results above management's forecast this quarter.
U.S. stocks dropped on Thursday, but were well off the session lows hit after President Donald Trump canceled a summit with North Korea's Kim Jong Un and threatened to impose tariffs on auto imports. Trump ...
Best Buy Co Inc (NYSE:BBY) has staged one of the most impressive comebacks in retail history over the past several years. The company has gone from left-for-dead retailer being eaten alive by Amazon.com, Inc. (NASDAQ:AMZN), to a red-hot retailer with comparable sales growth consistently north of 5%. Meanwhile, Best Buy stock has gone from $10 to $70.
This is an increase over its earnings per share of 60 cents from the same time last year. It also comes in above Wall Street’s earnings per share estimate of 74 cents for the quarter. Net income reported by Best Buy Co Inc for the first quarter of the year was $208 million.
Best Buy BBY shares were sinking Thursday following a first-quarter beat that failed to impress Wall Street. "It was priced to perfection going into the number," Boris Schlossberg , managing director of FX strategy at BK Asset Management, told CNBC in an email Thursday. Best Buy shares declined by about 8 percent on Thursday even after a quarterly beat on its top and bottom lines.
Best Buy posted strong sales of mobile phones, appliances, and smart computing products as it showed in its financial results that store chains can still thrive as shoppers buy more online. The nation's largest consumer electronic was also buoyed by stronger consumer confidence in reporting first-quarter revenue and profits that beat Wall Street estimates. Only a few years ago, naysayers were writing Best Buy's obituary.