New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
November 21, 2012
10:42 EDTBBYFitch downgrades Best Buy to BB-, outlook negative
Fitch Ratings has downgraded its Issuer Default Rating on Best Buy to 'BB-' from 'BB+'. The Rating Outlook is Negative. Fitch believes that Best Buy faces headwinds around market share that are having an adverse impact on comparable store sales, profitability, and the company's credit profile. The Negative Outlook reflects (i) the potential for an accelerating shift in consumer electronics sales to the online channel and (ii) Fitch's skepticism that the strategic plan laid out by new management, which shed some light on cost cutting programs and initiatives to reinvigorate sales, will achieve the targeted improvements and curb market share losses and profitability declines. The ratings continue to reflect Best Buy's strong liquidity position and free cash flow generation.
News For BBY From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
December 10, 2014
08:08 EDTBBYBest Buy field checks show good November, says Jefferies
Subscribe for More Information
December 4, 2014
05:32 EDTBBYBest Buy to sell Five Star business in China
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use