|Bid||91.00 x 1100|
|Ask||91.02 x 800|
|Day's Range||89.41 - 91.40|
|52 Week Range||56.39 - 91.83|
|Beta (5Y Monthly)||1.15|
|PE Ratio (TTM)||16.06|
|Earnings Date||Feb 26, 2020|
|Forward Dividend & Yield||2.00 (2.22%)|
|Ex-Dividend Date||Dec 14, 2019|
|1y Target Est||87.55|
Rosen Law Firm, a global investor rights law firm, announces it is investigating potential breaches of fiduciary duties by management of Best Buy Co., Inc. (NYSE: BBY) resulting from allegations that management may have issued materially misleading business information to the investing public.
Interface's board of directors voted to terminate the contract of Jay Gould "for cause" following an investigation into his behavior.
The sector's prospects are closely tied to the purchasing power of consumers, who look pretty confident. With consumers feeling confident, retail sales are also improving.
Stock futures slump as investors worry about the economic impact of a deadly respiratory virus in China; Netflix and IBM report earnings; Boeing reportedly is talking with banks to secure $10 billion in loans; Best Buy's board is examining the CEO's personal conduct.
Like the majority of investors, you're most likely working on a retirement portfolio that will provide a large enough nest egg to give you a comfortable retirement. Make sure you know all about what financial planners call the accumulation and distribution phases of retirement planning.
(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 44, 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 Barry was in a romantic relationship with former Senior Vice President Karl Sanft, citing a copy of the anonymous letter. The Dec. 7 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.“This situation usually happens when there’s a huge power differential,” said Taekjin Shin, associate professor at the Fowler College of Business at San Diego State University. He noted that in the case of Barry, it’s also “reverse gender” and based on what had been reported, the pair were at the same level, he said.Prior RelationshipIt’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.Best Buy will have to be particularly careful in treating the two situations consistently, according to Shin.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.”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 surged 66% in 2019, its best annual gain in six years and more than double the return of the S&P 500 Index, as Best Buy 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.The stock climbed 38% since Barry became CEO in June, while the S&P 500 increased 15%. Barry was married almost two decades ago, according to a profile of her on Best Buy’s corporate website. She and her husband, Marty, have two children.(Adds share price performance since Barry became CEO in 14th paragraph. An earlier version of the story was corrected.)\--With assistance from Jordyn Holman and Gerald Porter Jr..To contact the reporters on this story: Jonathan Roeder in Chicago at firstname.lastname@example.org;Matthew Boyle in New York at email@example.comTo contact the editors responsible for this story: Sally Bakewell at firstname.lastname@example.org, Cécile Daurat, Linus ChuaFor 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.
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 ...
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.
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.
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.
Helen of Troy, L Brands, Best Buy, Builders FirstSource and Photronics highlighted as Zacks Bull and Bear of the Day
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.
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.
Target’s stock fell 7% after the retailer said it was challenged in key holiday season categories, like electronics and home.
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%.
Tilly's (TLYS) reports soft comparable store sales for the nine weeks, ended Jan 5. This leads management to trim the fourth-quarter outlook.
Best Buy's (BBY) focus on developing omnichannel capabilities, supply chain and cost-containment efforts along with strengthening partnerships with vendors bode well.
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.
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.