We are in the second phase of the fourth-quarter 2023 earnings season. Results are, so far, better than expected. As of Feb 16, 396 companies on the S&P 500 Index reported their financial numbers. Total earnings for these index members are up 5.1% from the same period last year on 3.4% higher revenues, with 78.8% beating EPS estimates and 64.4% beating revenue estimates.At present, total fourth-quarter 2023 earnings for the S&P 500 Index are expected to be up 5.1% on 3.4% higher revenues. This would follow ...

Kena Betancur Overview My recommendation for Best Buy Co., Inc. (NYSE:BBY) is a buy rating. My reason for the buy recommendation is because of the attractive capital return story and the demand recovery in PCs and smartphones in the latter part of this year. I need to highlight that any investment position should be small because near-term growth is likely to remain weak, at least through 1H24. If there are signs of further macro weakness, I would recommend further scaling down the position. For risk-av ...

In this video, Motley Fool contributor Jason Hall takes a closer look at JPMorgan Chase (JPM 1.73%), Wells Fargo (WFC 3.62%), and Bank of America (BAC 1.54%). One is most worth buying right now.*Stock prices used were from the afternoon of Jan. 17, 2023. The video was published on Jan. 20, 2023. ...

Best Buy has added a new platform to support its expansion into prescription health and wellness technology products. The new online experience enables eligible customers to buy continuous glucose monitoring devices (CGMs), according to a Wednesday (Jan. 10) press release issued by Stripe, which is providing the payments infrastructure for Best Buy’s new platform. “Stripe is thrilled to accelerate the expansion of Best Buy’s health and wellness category as they sell prescription based medical devices for th ...

7 Safe Stocks That Pay You Serious Dividends ShutterstockProfessional / Shutterstock.com Investors love dividend stocks because they provide dependable income and give investors a great opportunity for solid total return. Total return includes interest, capital gains, dividends, and distributions realized over time. In other words, the actual investment or portfolio return consists of dividend income and stock appreciation.We screened our 24/7 Wall St. dividend stock database, looking for solid companies ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended October 28, 2023 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 1-9595 BEST BUY CO., INC. (Exact name of registrant as specified in its charter) Minnesota 41-0907483 (State or other jurisdiction of ...

Financial Data and Key Metrics Changes - The company reported enterprise revenue of $9.8 billion, a decline of 6.9% on a comparable basis, with a non-GAAP operating income rate of 3.8%, down 10 basis points from last year [28][30]. - Non-GAAP diluted earnings per share decreased by 6.5% to $1.29 [28]. - The gross profit rate improved by 90 basis points year-over-year, attributed to better product margins and profitability improvements in the membership program [5][28]. Business Line Data and Key Metrics Changes - In the Domestic segment, revenue decreased by 8.2% to $9 billion, driven by a comparable sales decline of 7.3%, with significant declines in appliances, computing, home theater, and mobile phones, partially offset by growth in gaming [30]. - The International segment saw a revenue decrease of 3.4% to $760 million, impacted by a comparable sales decline of 1.9% and negative foreign exchange effects [30]. Market Data and Key Metrics Changes - The company maintained its year-to-date industry share in Circana-tracked categories, with a consistent demographic profile of purchasing customers [9]. - The overall blended average selling price of products was flat compared to last year, indicating a slight improvement relative to previous quarters [30]. Company Strategy and Development Direction - The company is focusing on enhancing its membership program, which now has 6.6 million paid members, up from 5.8 million at the start of the year, contributing to operating income rate expansion [10][36]. - The company is evolving its omnichannel capabilities and has introduced initiatives like Best Buy Drops to drive customer engagement and app usage [13]. - Plans for store portfolio adjustments include refreshing stores and testing smaller footprint locations while closing underperforming stores [16][19]. Management's Comments on Operating Environment and Future Outlook - Management noted that consumer demand has been uneven and difficult to predict, leading to a lowered revenue outlook for Q4, despite a slight increase in annual EPS guidance [7][24]. - The macroeconomic environment remains uncertain, with inflation impacting consumer spending patterns, particularly towards services rather than consumer electronics [24][25]. - Management expressed optimism about the holiday season, expecting a more traditional shopping pattern and strong product availability [21][57]. Other Important Information - The company has returned $873 million to shareholders through dividends and share repurchases year-to-date, with expectations to repurchase approximately $350 million for the year [32]. - The company is enhancing its supply chain network to improve delivery speed and efficiency, with a focus on optimizing shipping locations [17][18]. Q&A Session Summary Question: Concerns about negative comps and industry cycles - Management acknowledged the impact of pandemic pull-forward and sustained inflation affecting consumer spending, leading to uneven sales trends [40]. Question: Outlook for Q4 sales performance - Management indicated that comparisons to last year would improve, and they remain optimistic about holiday promotions and events [42]. Question: Credit card headwinds and gross margin considerations - Management discussed potential pressures from credit card performance but expects benefits from membership programs to offset these challenges [45]. Question: Metrics on customer experience and labor management - Management highlighted improvements in customer satisfaction metrics and flexibility in labor management to adapt to changing consumer demands [49]. Question: Product innovation and market trends - Management noted emerging innovations in consumer electronics, including larger TVs and new gaming products, which could stimulate demand [55]. Question: Promotional activity and holiday season expectations - Management confirmed that promotional activity is up compared to last year and expects a sales-driven holiday season with strong consumer interest in deals [57].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended July 29, 2023 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 1-9595 BEST BUY CO., INC. (Exact name of registrant as specified in its charter) Minnesota 41-0907483 (State or other jurisdiction of in ...

Best Buy Co., Inc. (NYSE:BBY) Q2 2024 Earnings Conference Call August 29, 2023 8:00 AM ET Company Participants Mollie O'Brien - VP of IR Corie Barry - CEO Matt Bilunas - CFO Conference Call Participants Scot Ciccarelli - Truist Greg Melich - Evercore ISI Seth Sigman - Barclays Liz Suzuki - Bank of America Michael Lasser - UBS Kate McShane - Goldman Sachs Brad Thomas - KeyBanc Capital Markets Brian Nagel - Oppenheimer Operator Ladies and gentlemen, thank you for standing by. Welcome to the Best Buy's Second ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended April 29, 2023 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 1-9595 BEST BUY CO., INC. (Exact name of registrant as specified in its charter) Minnesota 41-0907483 (State or other jurisdiction of i ...