Best Buy TodayBBYBest Buy$97.82 -1.79 (-1.80%) 52-Week Range$62.30▼$103.71Dividend Yield3.84%P/E Ratio17.13Price Target$102.41Add to WatchlistBuy Best Co. Inc. NYSE: BBY is a leading big-box retailer of consumer electronics products and services. The company's physical stores average 36,800 square feet, which has actually been shrinking. Its year-over-year (YoY) sales have also been shrinking. Still, ironically, its profits have been improving for the past five years, driven by solid cost containment, membe ...

As 2024 comes to a close, seasonality is a theme that occurs every year entering the holiday season. A look back at some of the familiar headline trends for 2024 includes the AI data center boom, shortage of GLP-1 drugs, fresh demand for nuclear power, restarting the interest rate cut cycle, off-price shopping frenzy, retailer inventory normalization, and the ad market, and cloud computing recovery. The fear of missing out (FOMO) on the Santa Claus rally can set up a perfect buying storm in the year's fourt ...

Best Buy (BBY, Financial) experienced a 1.36% drop in its stock price, reaching $99.97 per share with a trading volume of 795,462 shares and a turnover rate of 0.37%. The stock's volatility was recorded at 1.38%.Recent financial reports show that Best Buy achieved a revenue of $9.288 billion, with a net profit of $291 million. The earnings per share (EPS) stand at $1.35, and the gross profit amounts to $2.181 billion. The company's price-to-earnings (P/E) ratio is 17.28.Analysts' ratings show that out of 30 ...

The Q2 earnings season is now in the rearview window, and it's proven to be quite a boon for many out-of-favor stocks. One of the major laggards that got a boost over the past month is Best Buy (With combined experience of covering technology companies on Wall Street and working in Silicon Valley, and serving as an outside adviser to several seed-round startups, Gary Alexander has exposure to many of the themes shaping the industry today. He has been a regular contributor on Seeking Alpha since 2017. He has ...

Financial Performance - In the second quarter of fiscal 2025, the company reported revenue of $9.3 billion, a decrease of 3.1% compared to the same period last year[85]. - Comparable sales declined by 2.3% in the second quarter of fiscal 2025, an improvement from a 6.1% decline in the first quarter[77]. - Gross profit for the second quarter was $2.186 billion, representing 23.5% of revenue, compared to 23.2% in the same quarter last year[85]. - Operating income increased to $383 million in the second quarter, with an operating income margin of 4.1%[85]. - Net earnings for the second quarter were $291 million, resulting in diluted earnings per share of $1.34, up from $1.25 in the prior year[85]. Domestic Segment Performance - Domestic segment revenue for the three months ended August 3, 2024, was $8,623 million, a decrease of 3.0% compared to $8,890 million for the same period last year[92]. - Comparable sales in the Domestic segment decreased by 2.3% in the second quarter, with notable declines in appliances, home theater, and gaming categories[93]. - Domestic gross profit for the three months ended August 3, 2024, was $2,027 million, with a gross profit margin of 23.5%[92]. - Domestic SG&A expenses decreased to $1,668 million in the second quarter, primarily due to lower employee compensation and other expenses[96]. - Online revenue for the Domestic segment was $2,718 million in the second quarter, reflecting a 1.6% decrease on a comparable basis[93]. International Segment Performance - International segment revenue for the three months ended August 3, 2024, was $665 million, down 4.0% from $693 million in the prior year[100]. - International comparable sales decreased by 1.8% in the second quarter, primarily due to declines in gaming and computing categories[101]. Strategic Initiatives - The company plans to close approximately 10 to 15 Domestic Best Buy stores in fiscal 2025 as part of its market-driven strategy[88]. - The company is focused on four key priorities for fiscal 2025: enhancing customer experiences, driving operational efficiency, disciplined capital allocation, and exploring new revenue streams[77][82]. - The company completed the rollout of personalized content in its app to enhance user engagement and improve customer experiences[78]. Tax and Capital Management - The effective tax rate decreased to 25.8% in the second quarter of fiscal 2025, down from 26.1% in the same quarter last year, due to increased tax benefits from green energy incentives[89]. - The company is focused on managing liquidity and capital resources, adjusting capital expenditures and share repurchases in response to economic changes[112]. - Capital expenditures are expected to approximate $750 million in fiscal 2025, down from $795 million in fiscal 2024[117]. - The total cost of shares repurchased increased to $98 million in the second quarter of fiscal 2025, with an average price per share of $82.57[125]. - Cash dividends declared and paid increased to $203 million in the second quarter of fiscal 2025, up from $200 million in the prior year[125]. Cash and Liquidity - Cash and cash equivalents decreased to $1,387 million as of August 3, 2024, from $1,447 million on February 3, 2024, primarily due to dividend payments and capital expenditures[113]. - Operating activities generated $817 million in cash for the six months ended August 3, 2024, compared to $181 million for the same period in the prior year[115]. - Restricted cash decreased to $311 million as of August 3, 2024, from $346 million on February 3, 2024, primarily due to releases of product protection reserves[122]. - The company has a $1.25 billion undrawn revolving credit facility agreement expiring in April 2028, with no borrowings outstanding as of August 3, 2024[121]. Foreign Exchange Impact - Foreign currency exchange rate fluctuations had an unfavorable impact on revenue of approximately $18 million in the second quarter of fiscal 2025[138]. - The strength of the U.S. dollar against the Canadian dollar was a significant factor in the foreign currency exchange rate fluctuations[138]. - The impact of foreign exchange rate fluctuations on net earnings in the second quarter and first six months of fiscal 2025 was not significant[138]. - Foreign currency exchange rate fluctuations negatively impacted revenue by approximately $18 million in the second quarter and $19 million in the first six months of fiscal 2025 compared to the prior-year period[138]. Interest Rate Sensitivity - As of August 3, 2024, a 50-basis point increase in short-term interest rates would lead to an estimated $6 million increase in interest income[136]. - As of August 3, 2024, the company had $1.7 billion in cash, cash equivalents, and restricted cash, with $0.5 billion of debt swapped to floating rate, resulting in a net asset balance of $1.2 billion exposed to interest rate changes[136]. - A 50-basis point increase in short-term interest rates would lead to an estimated $6 million increase in interest income, while a decrease would result in a $6 million decrease[136].

Converting to Sealed Air helps company use more recycled content in packaging materialsCHARLOTTE, N.C., Sept. 4, 2024 /PRNewswire/ -- Sealed Air (NYSE: SEE) is helping Best Buy (NYSE: BBY) through the introduction of packaging solutions that allow the company to use more recycled packaging content for shipping Best Buy products to consumers across North America. Best Buy, the electronics, computer, appliances and technology product retailer, is taking meaningful action by using packaging that not only prese ...

Best Buy Co., Inc BBY reported better-than-expected second-quarter financial results raised its FY25 earnings guidance on Thursday.Best Buy reported fiscal second-quarter adjusted EPS of $1.34, beating the street view of $1.16. Quarterly sales of $9.29 billion beat the analyst consensus of $9.24 billion.CEO Corie Barry: "We delivered strong results in our Domestic tablet and computing categories, which together posted comparable sales growth of 6% versus last year."Best Buy raised the fiscal 2025 adjusted E ...

Best Buy beat earnings expectations for the second quarter. (Photo by Bruce Bennett/Getty Images)Getty ImagesIn an unreliable world, the one place you can place your money is on the fact that the American consumer gonna keep on spendin’.Come hell or high water, U.S. shoppers continue to shop and they have propped up the retail industry during some tough times. And it seems 2024 is no exception.This week consumer electricals giant Best Buy reported better-than-expected earnings and sales for its second quart ...

For Best Buy CEO Corie Barry, elevating the customer experience is paramount.Despite recent challenges in the home theater, gaming and appliances categories, Barry is steering the company toward a more personalized and engaging shopping journey. “We are focused on sharpening our customer experiences,” Barry said Thursday (Aug. 29) during the company’s second-quarter earnings call. “We see a consumer who is seeking value and sales events, and one who is also willing to spend on high price-point products when ...

About this content About Angela Harmantas Angela Harmantas is an Editor at Proactive. She has over 15 years of experience covering the equity markets in North America, with a particular focus on junior resource stocks. Angela has reported from numerous countries around the world, including Canada, the US, Australia, Brazil, Ghana, and South Africa for leading trade publications. Previously, she worked in investor relations and led the foreign direct investment program in Canada for the Swedish government ...