This page is temporarily not available. Please check later as it should be available shortly. If you have any questions, please email customer support at firstname.lastname@example.org or call 800-767-3771 ext. 9339.
Best Buy is a well-known multinational retailer of consumer electronics, home office products, entertainment software, appliances, and related services in the United States, Canada, Europe, Mexico and China. Best Buy family of brands and partnerships collectively generates more than $40 billion annual revenue.
Solid Performance and Strong Fundamentals
The company recently posted fiscal fourth-quarter earnings of $1.61 per share, surpassing the consensus estimate by 14%. Revenue jumped 10% year-over-year, though comparable store sales dipped by 5%.
We prepared for reduced consumer spending, and we were pleased when the quarter finished stronger than it began, said Brad Anderson, chief executive officer and vice chairman of Best Buy. This company continues to innovate and take market share because of our culture, our talented employees and our commitment to serving customers.
Management added that the company responded quickly and effectively to the rapid changes in the macro-economic climate, is addressing the challenging demand environment and continues to see tremendous opportunities
Upbeat Projections and a Rising Share Price
Best Buy also pegged its fiscal 2010 EPS Outlook of $2.50 to $2.90
Analysts are bullish on earnings, revising forecasts from last month's $2.37 per share to $2.77 for the year ending February 2010.
Shares of BBY have been on a tear, soaring past the market by 30% to 40% over the past few months.
Favorable Industry Comparisons
Best Buys offers an industry-leading dividend yield of 1.5%. The companys return on equity (ROE) of 26% topes the industry average of 19. BBYs earnings per share are expected to grow 13% over the next 3 5 years, which is in line with the industry average.
Read the full reports :
Please login to Zacks.com or register to post a comment.