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Best Buy Co., Inc.

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The domestic segment’s strong performance helped Best Buy to post better-than expected first-quarter fiscal 2016 results. Moreover, in the quarter, the company has consolidated Future Shops and Best Buy Canada stores along with the respective websites under the Best Buy brand. Given the disturbance due to brand consolidation, ongoing weakness in Canada, currency headwinds, Best Buy gave a subdued outlook for the second quarter of fiscal 2016. Given the challenges, International segment revenues are likely to take a 30% to 35% hit while domestic business will either remain flat or grow in positive low-single digits. Given cumulative effect of these factors, enterprise revenues are projected to be either flat or fall in the low-single digits.

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