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News Breaks
January 16, 2014
07:04 EDTBBYBest Buy reports Holiday revenue $11.45B
The company said, “When we entered the holiday season, we said that price competitiveness was table stakes and an intensely promotional holiday season is what unfolded. In both channels, the promotional intensity that began with Black Friday continued throughout the period, which led us and our competitors to answer one question – do we make the incremental investment necessary to be price competitive and defend our market share? For us, there was only one answer. To advance our Renew Blue transformation, it was imperative that we live up to our customer promises – and one of these promises is to offer our customers competitive prices. This investment in pricing did come with a higher-than-expected cost, and we now estimate our fourth quarter non-GAAP operating income rate will be 175 to 185 basis points lower than last year. However, our price competitiveness combined with our improved customer experience both in-store and online, as demonstrated by a 400 basis point improvement in our Net Promoter Score, resulted in a market share gain in an industry that NPD says declined 240 basis points during the holiday period. We also made significant progress against several other Renew Blue priorities that will leave us well-positioned as we enter fiscal 2015."
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April 15, 2014
11:41 EDTBBYElectronics retailers sink after hhgregg lowers outlook
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April 10, 2014
16:06 EDTBBYZynga CFO Vranesh leaving company, Best Buy's Lee to succeed as CFO
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April 7, 2014
06:33 EDTBBYBest Buy implied volatility of 32 at lower end of index mean range
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