|Bid||68.5600 x 1100|
|Ask||68.5700 x 800|
|Day's Range||68.4113 - 71.0200|
|52 Week Range||51.6100 - 79.9000|
|PE Ratio (TTM)||20.97|
|Forward Dividend & Yield||1.80 (2.31%)|
|1y Target Est||N/A|
Best Buy's quarterly profit and same-store sales surged. But online sales growth slowed, and the company's outlook largely fell shy of estimates. Fred Katayama reports.
Best Buy, which has had a store at the Mall of America for 10 years, is not renewing its lease and will close the location this summer.
Best Buy Co. Inc. store traffic is robust, though sales online have slowed. Shares of the consumer electronics retailer sank 6.7% 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.
Best Buy beat analyst forecasts on Thursday but the stock sank in what seems to be a misguided reaction to slowing online sales.
Best Buy Co.’s sales jumped in the latest quarter as the electronics retailer continued to benefit from shoppers spending more freely, but shares fell as some investors feared there might not be much more room to run. Same-store sales increased 7.1%, which Chief Executive Hubert Joly attributed to higher consumer confidence and new products. Consumer confidence, as measured in one index, reached a 14-year high earlier this year and remained strong in May, signaling more spending for the months ahead.
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.
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 shares are sinking following a first-quarter beat that failed to impress Wall Street. The problem, according to one market watcher, was that expectations were too high.
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.
It appears as though the Fed might be willing to give the economy a bit more running room, and that seems to agree with the market. Stocks recovered from earlier losses Wednesday after the Fed minutes showed a willingness to let inflation run a little above the Fed’s long-term 2 percent target. Over on earnings row, Best Buy Co. Inc. (NYSE: BBY) posted Q1 earnings of 82 cents a share, above Wall Street analysts’ estimates of 74 cents.
Shares of Best Buy (BBY) are down more than 6% on Thursday after the electronics retailer reported first-quarter earnings. Best Buy said it earned 82 cents a share on revenue of $9.11 billion, while analysts were looking for EPS of 74 cents on revenue of $8.75 billion. Comparable-store sales were up 7.1% in the quarter.
Best Buy Co Inc (BBY.N), the No. 1 U.S. consumer electronics retailer, posted a deceleration in online sales during the first quarter and did not update its full-year financial outlook, sending its shares sliding in early trade. Online sales growth decelerated meaningfully," said Jason Benowitz, analyst and senior portfolio manager at The Roosevelt Investment Group. Best Buy did not update its full-year financial outlook, which could have also led Wall Street to assume a fairly steep deceleration in growth, Benowitz said.
It appears as though the Fed might be willing to give the economy a bit more running room, and that seems to agree with the market. Stocks recovered from earlier losses Wednesday after the Fed minutes showed a willingness to let inflation run a little above the Fed’s long-term 2% target.
Best Buy Co.'s first quarter shaped up to be something of an encore to its robust holiday season. The big-box electronics and appliance giant reported Thursday that comparable sales rose 7.1 percent over a year earlier in the quarter, far higher than the 2.9 percent growth analysts had estimated. The restrained outlook effectively signaled to investors that they shouldn't get used to the roaring performance they’ve become accustomed to lately. Isn't it kind of obvious, though?
Best Buy (BBY) beat analysts’ revenue and earnings expectations for the first quarter of fiscal 2019, which ended on May 5. Despite strong fiscal first-quarter results, Best Buy stock was down 5.8% as of 9:07 AM EST today. Also, the comparable online sales growth for the domestic segment slowed down in the quarter to 12% from 22.5% in the first quarter of fiscal 2018.