|Bid||73.67 x 800|
|Ask||73.74 x 1200|
|Day's Range||72.84 - 75.07|
|52 Week Range||52.92 - 84.37|
|Beta (3Y Monthly)||0.38|
|PE Ratio (TTM)||20.33|
|Earnings Date||Nov 14, 2018 - Nov 19, 2018|
|Forward Dividend & Yield||1.80 (2.48%)|
|1y Target Est||80.37|
Postmates made another major push on Tuesday to shore up its position as a dominant player in the competitive on-demand delivery space.
The analyst expects a full Sears liquidation to add an extra $0.47 to Best Buy's fiscal 2019 earnings per share (EPS), given that 85% of all Sears stores are within a five mile range of a Best Buy location.
About 85 percent of Sears' stores are within five miles of a Best Buy store, according to Loop Capital. If Sears liquidates, Best Buy could see an additional 47 cents a share in adjusted annual earnings from the added customers. "We believe Sears' bankruptcy filing is a major positive for Best Buy," Loop's Anthony Chukumba says.
The downfall of Sears may bring a hearty influx of customers to Best Buy and therefore boost its bottom line, according to a report Tuesday by Loop Capital.
Where we were: Sears has been sliding for quite some time, so its bankruptcy is hardly a surprise. Where we’re headed: If a full liquidation comes, Best Buy could see a big benefit, but even if Sears only closes the roughly 200 stores as part of its current plan, it should still help Best Buy’s stock, says Loop Capital. Some may mourn the passing of the former retail behemoth Sears, but such can be the circle of life.
Best Buy (BBY) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.
The change stems from a 2005 legislative overhaul of the bankruptcy code that forced companies to find an agreement within seven months on its real-estate leases, or allow landlords to walk away from the agreement. The law intensifies the pressure on Sears and Chairman Eddie Lampert to restructure the company and turn it into a relevant, viable business. Sears did not respond to requests seeking comment.
Amazon (AMZN) has rapidly expanded its private-label business, which began sometime in 2009, with the company selling items such as batteries. According to TJI Research’s October 2018 report, there are more than 120 private brands and more than 150 exclusive brands on Amazon’s retail platform. Private brands are those created under Amazon’s brand name.
Sears wasn't a big rival to either Minnesota retailer, but it's still one fewer competitor out there. But beware the "dark anchor" effect.
Swedbank, one of Sweden’s largest banks, disclosed Thursday that it initiated large positions in those stocks in the third quarter.
Strategic initiatives such as Best Buy 2020 plan and Store-in-a-Store concept will drive Best Buy's (BBY) growth in near future.