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 imageXerox Corp. (XRX): An Insider’s $500,000 Insider Buy

Last week was a healthy week of insider buying as 194 companies reported purchase records. The number read on...

article imageQihoo 360 Technology Co Ltd. (QIHU) Q2 Earnings Preview: A Green Monday

Qihoo 360 Technology Co Ltd. (NYSE:QIHU) will report its second quarter 2014 financial results on Monday, read on...

article imageSix Stocks that Could Outperform in the next 90 days

Earlier today, Goldman Sachs put out its list of the 50 stocks that Matter Most. It’s a list of the 50 read on...

article imageFoot Locker, Inc. (FL) Q2 Earnings Preview: Running Past the Street View

Foot Locker, Inc. (NYSE:FL) plans to report financial results for its second quarter ended August 2, 2014 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.