logo
  Join        Login             Stock Quote

Best Buy (BBY) Comps Down 1.4 Pct For Holiday Period

 January 11, 2013 07:23 AM
 


(By Balachander) Best Buy Co. Inc. (NYSE: BBY) posted a 1.4 percent drop in comparable store sales for the holiday period and the consumer electronics giant cut its free cash flow forecast.

The company's Domestic segment reported flat comparable Store Sales for the nine weeks ended Jan. 5, with declines in entertainment, televisions and computing.  Best Buy posted positive comps sales growth in mobile phones, tablets/eReaders and appliances.

In the International segment, comps fell 6.4 percent due to declines in Canada and China.

For the same period, total revenue edged down 0.4 percent to $12.8 billion.

[Related -Sony Corporation: Top Black Friday Deals For PS3, Xbox 360]

For 2013, the company now expects free cash flow to be roughly $500 million, versus prior estimate of $850 million to $1.05 billion.

For the third quarter, Best Buy slipped to a quarterly loss due to restructuring charges primarily related to store closures and lower revenue.

The stock, which has been trading in the 52-week range of $11.20 to $27.95, closed Thursday's regular trading at $12.21.

iOnTheMarket Premium
Advertisement

Advertisement


Post Comment -- Login is required to post message
Name:  
Alert for new comments:
Your email:
Your Website:
Title:
Comments:
 

rss feed

Latest Stories

article imageHealth Net, Inc. (HNT): Potential to Be Huge Winners Says Bank of America

As of this keystroke, Health Net, Inc. (NYSE: HNT) shares are up around 4% on the day. The managed health read on...

article imageHomeAway, Inc. (AWAY) Q2 Earnings Preview: Top and Bottom Line Bullish Surprise?

HomeAway, Inc. (NASDAQ:AWAY) will report its financial results for the second quarter ended June 30, 2014 read on...

article imageAmazon.com, Inc. (AMZN) Q2 Earnings Preview: Missing on the Top and Bottom Lines, Again?

Amazon.com, Inc. (NASDAQ:AMZN) will release its second quarter financial results after market close on read on...

article imageFord Motor Company (F) Q2 Earnings Preview: Light on the Top Line?

Ford Motor Company (NYSE:F) will release its preliminary second quarter 2014 results at 6:30 a.m. EDT read on...

Advertisement
Popular Articles

Advertisement
Daily Sector Scan
Partner Center



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.