There are some fantastic top retail stocks to buy for March this year. Despite the real threats it faces from e-commerce and social shopping, nothing can quite replace the retail experience. Thus, big box retail stores continue to stay in demand, especially for products that can’t so easily be shopped online. That would include itens more personal to people’s taste; unique sizes, such as clothing and apparel goods; and luxury items that require more in-store personalization.The top retail stocks in this art ...

MINNEAPOLIS--(BUSINESS WIRE)--Best Buy Co., Inc. (NYSE: BBY) announced today that current Board Chairman, J. Patrick Doyle, will retire from his position, effective as of the expiration of his annual term on June 12, 2024. Doyle has served on Best Buy’s Board of Directors since 2014 and has been chairman since 2020. David Kenny will succeed Doyle and will take on the chairman role, effective as of Doyle’s retirement. Kenny is the executive chairman of Nielsen and has been on the Best Buy Board since 2013. ...

Best BuygettyBest Buy BBY just reported 4th quarter and full year results. Holiday sales were stronger than expected, resulting in just a slight drop in revenues in the fourth quarter (-0.6%). But it still caused a drop of -5.6% in earnings (to $2.12) in the quarter. For the full year, sales were much softer as the company reported revenues of $43.5 billion, a drop of -6% from the previous year. Considering the inflationary environment last year, combined with threats of unemployment that dampened consumer ...

Key TakeawaysBest Buy beat profit and sales forecasts for its fiscal fourth quarter as falling demand for the electronics retailer's products eased.The company's same-store sales declined, but at a slower pace than analysts had estimated.CEO Corie Barry said Best Buy anticipates industry sales will increasingly stabilize this year. Best Buy (BBY) shares gained ground Thursday after the electronics retailer posted better-than-expected results as the post-pandemic slump in demand for its products eased. Best ...

Best Buy Co., Inc. (BBY) has reported fourth-quarter fiscal 2024 results, wherein the top and bottom lines beat the Zacks Consensus Estimate. While revenues decreased year over year, earnings improved from the year-ago period. Throughout the fourth quarter and fiscal 2024, the company showcased a robust operational performance despite facing a challenging consumer electronics sales environment. Q4 Details Best Buy's adjusted earnings of $2.72 per share beat the Zacks Consensus Estimate of $2.51. The bottom ...

Today is not only Leap Year Day — the last time we saw one of these was less than a month before the country shut down for the Covid pandemic — but also the most important morning for this trading week. This morning brings us Personal Consumption Expenditures (PCE) for January which, while mixed, are being met favorably by pre-market trading: while the top three market indices were all wallowing in the red ahead of the report, they are currently +0.2% on the Dow, +0.3% on the S&P 500 and +0.57% on the Nasda ...

Tech retailer Best Buy Co Inc (NYSE:BBY) announced a fourth-quarter earnings and revenue beat this morning thanks to holiday deals that bumped consumer demand. The company's comparable quarterly sales also fell less than anticipated. At last check, BBY was up 5.6% at $84.13.The security earlier hit its highest level since August, and is on track for a seventh-straight daily win and best day since December. The stock staged a bounce off its 20-day moving average, and added more than 14% in the last nine mont ...

Financial Data and Key Metrics Changes - For Q4, the company reported enterprise revenue of $14.6 billion, a decline of 4.8% on a comparable basis, with non-GAAP diluted earnings per share increasing by 4% to $2.72 [38][39] - The non-GAAP operating income rate improved by 20 basis points to 5%, and the gross profit rate increased by 50 basis points [38][39] - The company ended the year with $1.4 billion in cash and a year-end inventory balance approximately 4% lower than the previous year [43] Business Line Data and Key Metrics Changes - The domestic segment revenue decreased by 0.9% to $13.4 billion, driven by a comparable sales decline of 5.1%, with significant contributors to the decline being home theater, appliances, mobile phones, and tablets [40] - The gaming category showed growth, partially offsetting declines in other categories [40] - The Best Buy Health business achieved its operating income contribution target of 10 basis points for the year [10] Market Data and Key Metrics Changes - International revenue increased by 2.7% to $1.2 billion, primarily driven by approximately $60 million from an extra week, despite a comparable sales decline of 1.4% [41] - The company holds one-third of the retail market share in both the U.S. computing and television industries, roughly 20% in gaming, and over 10% in other categories like major appliances [25] Company Strategy and Development Direction - The company plans to focus on sharpening customer experiences and industry positioning while maintaining or expanding operating income rates [11][36] - Fiscal 2025 priorities include invigorating targeted customer experiences, driving operational effectiveness, maintaining disciplined capital allocation, and exploring incremental revenue streams [11][29] - The company aims to enhance personalization in customer interactions and invest in store experiences to meet evolving customer expectations [18][21] Management's Comments on Operating Environment and Future Outlook - Management noted macro pressures impacting retail and consumer electronics, including inflation, stagnant housing market, and a pull-forward of demand during the pandemic [12][13] - Despite these challenges, management expressed optimism about decreasing inflation, low unemployment, and potential recovery in the housing market, which could positively impact sales [14][15] - For fiscal 2025, the company expects comparable sales to be flat to down 3%, with growth anticipated in the computing category due to early replacement cycles [16][17] Other Important Information - The company announced a 2% increase in its quarterly dividend, marking the 11th consecutive year of dividend increases [31] - The company is recognized for its employee support and sustainability efforts, maintaining low turnover rates and being named to the Dow Jones Sustainability North America Index [34][35] Q&A Session Summary Question: How to segment the comp performance between broader pressures on discretionary spending and the pull forward of demand during the pandemic? - Management indicated that while it's difficult to segment precisely, there are early indicators of a replacement cycle, particularly in the laptop category, suggesting some recovery in demand [50][51] Question: Is there enough frequency in customer visits to leverage data and personalization? - Management clarified that while purchase frequency may vary, the frequency of brand interaction is sufficient to enable effective personalization strategies [53][54] Question: How much excitement is building around AI products for Best Buy? - Management noted significant excitement around AI innovations, particularly following the Consumer Electronics Show, indicating a vibrant horizon for AI technology in consumer electronics [57][58] Question: How are strategic pivots impacting market share? - Management stated that despite strategic changes, they believe they have largely held market share in key categories since the pandemic, focusing on enhancing customer experience [64][66] Question: What is the rule of thumb for projecting sales versus operating margin? - Management expects that as sales grow, operating profit rates will also expand, with a focus on cost control and efficiency [68][69] Question: How does the housing market impact sales outlook? - Management acknowledged a correlation between housing and certain product categories, indicating that improvements in the housing market could positively affect sales [72][73] Question: Any notable consumer behavior changes across channels? - Management observed that online sales growth has stabilized, and they anticipate continued online penetration as part of a normalized sales environment [75][76]

Best Buy (BBY) reported $14.65 billion in revenue for the quarter ended January 2024, representing a year-over-year decline of 0.6%. EPS of $2.72 for the same period compares to $2.61 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $14.52 billion, representing a surprise of +0.89%. The company delivered an EPS surprise of +8.37%, with the consensus EPS estimate being $2.51.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how ...

Best Buy (BBY) came out with quarterly earnings of $2.72 per share, beating the Zacks Consensus Estimate of $2.51 per share. This compares to earnings of $2.61 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 8.37%. A quarter ago, it was expected that this consumer electronics retailer would post earnings of $1.19 per share when it actually produced earnings of $1.29, delivering a surprise of 8.40%.Over the last four quarters, ...