Welcome!

News Feed Item

Earnings Briefing and Analysis - Best Buy

Editor Note: For more information about this release, please scroll to bottom.

LONDON, September 4, 2014 /PRNewswire/ --

Investor-Edge.com has issued free earnings briefing and analysis on Best Buy Co. Inc. (NYSE: BBY). The company reported its results for Q2 FY15 on Tuesday, August 26, 2014. During Q2 FY15, Best Buy's non-GAAP EPS from continuing operations increased $0.12 from Q2 FY14, while its comparable sales declined 2.7% Y-o-Y. Our free coverage report can be accessed at:

http://www.investor-edge.com/register

Earnings Overview  

During Q2 FY15, Best Buy reported revenue of $8.90 billion, compared with $9.27 billion, in the prior year quarter. Analysts from Bloomberg were anticipating revenue of $8.98 billion in Q2 FY15. During the reported quarter, the company's non-GAAP diluted EPS from continuing operations rose to $0.44, from $0.32 in Q2 FY14, while its GAAP diluted earnings from continuing operations fell to $0.42 per share, from $0.69, in the year ago period. Analysts at Bloomberg were expecting the company to report GAAP diluted earnings of $0.31 per share, during the reported quarter. Best Buy's domestic revenue declined 2.4% Y-o-Y to $7.59 billion in Q2 FY15, which was mainly driven by a comparable sales decline of 2.0% and a revenue decline of 25 basis points, due to the less favorable economics of the new credit card agreement. Additionally, on July 03, 2014, the company paid a quarterly dividend of $0.17 per common share outstanding, or $59 million. The free research on BBY can be downloaded as in PDF format at:

http://www.Investor-Edge.com/BBYFreeReport

The company's domestic SG&A expenses for the reported quarter stood at $1.52 billion, or 20.1% of revenue, compared to $1.70 billion, or 21.9%, in Q2 FY14. On a non-GAAP basis, Best Buy's domestic SG&A expense for Q2 FY15 stood at $1.51 billion, or 19.9% of revenue, compared to $1.66 billion, or 21.3% of revenue, in the previous year quarter. The rate decline was primarily driven by the realization of Renew Blue cost reduction initiatives and tighter expense management throughout the company. During Q2 FY15, the company's International revenue declined 12.1% Y-o-Y to $1.31 billion, attributable to a comparable sales decline of 6.7% driven by China, Canada, and Mexico, the negative impact of foreign currency exchange rate fluctuations and the loss of revenue from the closure of large-format store in China. Further, Best Buy's International SG&A expenses for Q2 FY15 stood at $291 million, or 22.2% of revenue, compared to $334 million, or 22.4% of revenue, in Q2 FY14.

Best Buy Co. Inc.'s President and CEO, Hubert Joly, stated that the company's Renew Blue cost reduction and other SG&A cost containment initiatives drove better-than-expected results. In addition, he said that the company witnessed a shift in consumer behaviour during the quarter, as consumers now increasingly research and purchase online. While this led to a continuous decline in traffic at the company's brick and mortar stores, its in-store conversion and online traffic continued to increase due to the implementation of Renew Blue strategy which is in direct alignment with this shift. Joly concluded saying that the company is looking ahead to create a differentiated multi-channel customer experience such that every interaction customers have with the company makes them a promoter of the Best Buy brand. To support this, Best Buy Co. Inc. will be intensifying investments in customer-facing initiatives across both channels in the second half of 2014. Sign up and read the free analyst's notes on BBY at:

http://www.Investor-Edge.com/BBY-04092014

Further, Sharon McCollam, EVP, CAO and CFO of the company, commented that industry-wide sales are continuing to decline in many of its competing consumer electronics categories. The company is also witnessing the ongoing softness in the mobile phone category ahead of highly-anticipated new product launches. As a result, without any change in declining industry trends and with limited visibility to new product launch quantities, the company continues to expect comparable sales to decline by low-single digits in the third and fourth quarters.

Stock Performance 

On the day of the earnings release, August 26, 2014, Best Buy Co. Inc.'s stock took a beating of 6.85%, and ended the session at $29.80. The stock has recovered since then, although, on the last close, Wednesday, September 03, 2014, it finished 0.38% lower at $31.23. The stock vacillated between $31.08 and $31.51 during the session. A total of 2.99 million shares were traded, which was below its three months average volume of 4.49 million shares. Over the previous three trading sessions and from the beginning of 2014, the company's shares have declined 3.13% and 21.69%, respectively. However, the stock has advanced 7.06% over the last one month. Best Buy Co. Inc.'s shares are trading above their 50-day and 200-day moving averages of $30.49 and $30.10, respectively. Further, the stock traded at a PE ratio of 23.62 and has a Relative Strength Index (RSI) of 54.38. Visit Investor-Edge and access the latest research on BBY at:

http://www.Investor-Edge.com/BBYEarningsCoverage

Sneak Peek to Corporate Insider Trading  

On August 28, 2014, Mr. Richard M Schulze, Founder of Best Buy, sold 1,600 shares, worth $50,890.10 at a price of $31.81 per share. Complimentary in-depth research on BBY is available at:

http://www.Investor-Edge.com/BBYInsiderTrading

About Investor-Edge.com 

At Investor-Edge, we provide our members with a simple and reliable way to leverage our economy of scale. Most investors do not have time to track all publicly traded companies, much less perform an in-depth review and analysis of the complexities contained in each situation. That's where Investor-Edge comes in. We provide a single unified platform for investors' to hear about what matters. Situation alerts, moving events, and upcoming opportunities.

===============

EDITOR'S NOTES:

===============

1. This is not company news. We are an independent source and our views do not reflect the companies mentioned.

2. Information in this release is produced on a best efforts basis by Rohit Tuli, a CFA charterholder. The content is then further fact checked and reviewed by an outsourced research provider. However, we are only human and are prone to make mistakes. If you notice any errors or omissions, please notify us below.

3. This information is submitted as a net-positive to companies mentioned, to increase awareness for mentioned companies to our subscriber base and the investing public.

4. If you wish to have your company covered in more detail by our team, or wish to learn more about our services, please contact us at pubco [at] http://www.investor-edge.com.

5. For any urgent concerns or inquiries, please contact us at compliance [at] http://www.investor-edge.com.

6. Are you a public company? Would you like to see similar coverage on your company? Send us a full investors' package to research [at] http://www.investor-edge.com for consideration.

COMPLIANCE PROCEDURE

Content is researched, written and reviewed on a best-effort basis. This document, article or report is prepared and authored by Investor-Edge, represented by Rohit Tuli, CFA. An outsourced research services provider has only reviewed the information provided by Investor-Edge in this article or report according to the procedures outlined by Investor-Edge. Investor-Edge is not entitled to veto or interfere in the application of such procedures by the outsourced provider to the articles, documents or reports, as the case may be.

NOT FINANCIAL ADVICE

Investor-Edge makes no warranty, expressed or implied, as to the accuracy or completeness or fitness for a purpose (investment or otherwise), of the information provided in this document. This information is not to be construed as personal financial advice. Readers are encouraged to consult their personal financial advisor before making any decisions to buy, sell or hold any securities mentioned herein.

NO WARRANTY OR LIABILITY ASSUMED

Investor-Edge is not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted by Investor-Edge whatsoever for any direct, indirect or consequential loss arising from the use of this document. Investor-Edge expressly disclaims any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Investor-Edge does not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.


SOURCE Investor-Edge

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Web Real-Time Communication APIs have quickly revolutionized what browsers are capable of. In addition to video and audio streams, we can now bi-directionally send arbitrary data over WebRTC's PeerConnection Data Channels. With the advent of Progressive Web Apps and new hardware APIs such as WebBluetooh and WebUSB, we can finally enable users to stitch together the Internet of Things directly from their browsers while communicating privately and securely in a decentralized way.
All organizations that did not originate this moment have a pre-existing culture as well as legacy technology and processes that can be more or less amenable to DevOps implementation. That organizational culture is influenced by the personalities and management styles of Executive Management, the wider culture in which the organization is situated, and the personalities of key team members at all levels of the organization. This culture and entrenched interests usually throw a wrench in the work...
Keeping pace with advancements in software delivery processes and tooling is taxing even for the most proficient organizations. Point tools, platforms, open source and the increasing adoption of private and public cloud services requires strong engineering rigor - all in the face of developer demands to use the tools of choice. As Agile has settled in as a mainstream practice, now DevOps has emerged as the next wave to improve software delivery speed and output. To make DevOps work, organization...
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm.
What sort of WebRTC based applications can we expect to see over the next year and beyond? One way to predict development trends is to see what sorts of applications startups are building. In his session at @ThingsExpo, Arin Sime, founder of WebRTC.ventures, will discuss the current and likely future trends in WebRTC application development based on real requests for custom applications from real customers, as well as other public sources of information,
SYS-CON Events announced today that Interoute, owner-operator of one of Europe's largest networks and a global cloud services platform, has been named “Bronze Sponsor” of SYS-CON's 20th Cloud Expo, which will take place on June 6-8, 2017 at the Javits Center in New York, New York. Interoute is the owner-operator of one of Europe's largest networks and a global cloud services platform which encompasses 12 data centers, 14 virtual data centers and 31 colocation centers, with connections to 195 add...
Historically, some banking activities such as trading have been relying heavily on analytics and cutting edge algorithmic tools. The coming of age of powerful data analytics solutions combined with the development of intelligent algorithms have created new opportunities for financial institutions. In his session at 20th Cloud Expo, Sebastien Meunier, Head of Digital for North America at Chappuis Halder & Co., will discuss how these tools can be leveraged to develop a lasting competitive advanta...
TechTarget storage websites are the best online information resource for news, tips and expert advice for the storage, backup and disaster recovery markets. By creating abundant, high-quality editorial content across more than 140 highly targeted technology-specific websites, TechTarget attracts and nurtures communities of technology buyers researching their companies' information technology needs. By understanding these buyers' content consumption behaviors, TechTarget creates the purchase inte...
With the introduction of IoT and Smart Living in every aspect of our lives, one question has become relevant: What are the security implications? To answer this, first we have to look and explore the security models of the technologies that IoT is founded upon. In his session at @ThingsExpo, Nevi Kaja, a Research Engineer at Ford Motor Company, will discuss some of the security challenges of the IoT infrastructure and relate how these aspects impact Smart Living. The material will be delivered i...
In his session at @ThingsExpo, Eric Lachapelle, CEO of the Professional Evaluation and Certification Board (PECB), will provide an overview of various initiatives to certifiy the security of connected devices and future trends in ensuring public trust of IoT. Eric Lachapelle is the Chief Executive Officer of the Professional Evaluation and Certification Board (PECB), an international certification body. His role is to help companies and individuals to achieve professional, accredited and worldw...
My team embarked on building a data lake for our sales and marketing data to better understand customer journeys. This required building a hybrid data pipeline to connect our cloud CRM with the new Hadoop Data Lake. One challenge is that IT was not in a position to provide support until we proved value and marketing did not have the experience, so we embarked on the journey ourselves within the product marketing team for our line of business within Progress. In his session at @BigDataExpo, Sum...
Your homes and cars can be automated and self-serviced. Why can't your storage? From simply asking questions to analyze and troubleshoot your infrastructure, to provisioning storage with snapshots, recovery and replication, your wildest sci-fi dream has come true. In his session at @DevOpsSummit at 20th Cloud Expo, Dan Florea, Director of Product Management at Tintri, will provide a ChatOps demo where you can talk to your storage and manage it from anywhere, through Slack and similar services ...
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
SYS-CON Events announced today that Ocean9will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Ocean9 provides cloud services for Backup, Disaster Recovery (DRaaS) and instant Innovation, and redefines enterprise infrastructure with its cloud native subscription offerings for mission critical SAP workloads.
Have you ever noticed how some IT people seem to lead successful, rewarding, and satisfying lives and careers, while others struggle? IT author and speaker Don Crawley uncovered the five principles that successful IT people use to build satisfying lives and careers and he shares them in this fast-paced, thought-provoking webinar. You'll learn the importance of striking a balance with technical skills and people skills, challenge your pre-existing ideas about IT customer service, and gain new in...