Search results for Best Buy
-
Posted
Oct 20 2009, 03:53 AM
by
Douglas McIntyre
Rating:
Money Blog: Top Stocks Blog - MSN Money
Price cuts work. In September, Sony’s (SNE) PlayStation 3 outsold the Microsoft (MSFT) Xbox 360 and Nintendo Wii for the first time in recent memory.
Industry research firm NPD said that the video game industry, which includes both consoles and games, had sales of $1.28 billion in September, up 1% from a year ago.
Sony shipped 491,800 PS3 units in September, moving ahead of Nintendo’s Wii which shipped 462,800 units, and Microsoft’s Xbox 360 which dropped to third place with 352,600 units shipped.
Read More...
-
Posted
Sep 23 2009, 04:06 AM
by
Douglas McIntyre
Rating:
Money Blog: Top Stocks Blog - MSN Money
Jeff Bezos, the founder and chief executive of Amazon (AMZN), is known for being eccentric, but his new handset offer may be taking that act a bit too far. Cell phones using the AT&T (T) wireless network were selling on Amazon yesterday for one penny each. If the program is a success it is likely to come back.
The only product not available at the remarkable price is the Apple (AAPL) iPhone.
The purchase of the phone must be made with a two-year AT&T wireless subscription. The phones also come with free two-day shipping.
Read More...
-
Posted
Sep 15 2009, 01:30 PM
by
Minyanville
Rating:
Money Blog: Top Stocks Blog - MSN Money
This article is written by Minyanville's Kristen Graham
As one of the few freestanding electronic retailers left standing, I’ve found myself warming up to Best Buy (BBY) lately. See, Best Buy is a retail winner. This morning, the company released second-quarter results have further piqued my interest in the company.
The retailer missed earnings estimates as profits fell 22%. But total revenue rose 12%, boosted by the 170 new European stores it opened over the last year. And domestic sales increased 2% -- a solid figure in my mind as positive sales growth is pretty rare in the retail space these days. See Also: Best Buy boosts full-year forecast More importantly though, inventory fell 6.1%, positioning the company to enter the holiday season with a lean balance sheet. And market share soared 2% as its formerly crippled rival Circuit City is no longer in operation and current competitors just don’t offer as impressive of a selection of merchandise.
Despite increased traffic flow, the average ticket fell. This comes as no surprise as consumers simply don’t have the funds to make larger purchases right now. The key point here, though, is that consumers are still going to Best Buy for their electronic needs. Sure -- they may not be making purchases as large as they once would have, but they're still going or switching to the big-box retailer when they need electronic goods.
Read More...
-
Posted
Sep 10 2009, 09:00 AM
by
Minyanville
Money Blog: Top Stocks Blog - MSN Money
This article is written by Minyanville's Glenn Curtis
On September 15, electronics retailer Best Buy (BBY) is due out with its second-quarter numbers. And I’m here to tell you I think the shares are worth a look ahead of the announcement. Here’s why: 1. Although the shares have certainly had a nice run since the latter part of 2008, the stock hasn’t gone straight up like some other big names out there. In fact, it seems to be hovering roughly in the $30 to $40 range, looking for some sort of catalyst. Because of this, I’m less worried about profit-taking. Bing: What do analysts say about BBY?
2. It’s thumped the estimate the last three quarters, and I think it will beat again. Management knows this game, and it will be doing its utmost to make sure investors are left with a good taste in their mouths, post release. Incidentally, note that in the last 30 days, the estimate has edged up from $0.40 to $0.41. Not gigantic by any stretch, but still a good thing.
Read More...
-
Posted
Aug 14 2009, 02:49 PM
by
Minyanville
Rating:
Money Blog: Top Stocks Blog - MSN Money
This article was written by Minyanville's Mike Schuster with additional reporting by Nico Carbellano.
This has been a high-profile week for cyber criminals. An as-yet-unidentified cyber thief made off with the identities of some 500 dewy-eyed journalism-school applicants by breaking into the UC Berkeley server. Twitter -- the inexplicably popular, profoundly useless social networking site -- was taken offline for the second time, along with Facebook, in as many weeks by the same kind of hack that took down Google (GOOG) last year. And British hacker Gary McKinnon -- accused of pulling off the biggest military computer hack of all time, to the tune of $800,000 -- lost an appeal to avoid extradition to the United States. He'll therefore be tried stateside, where we don't take kindly to this sort of thing.
Despite the scale of these network outages, they can't hold a candle to those affected by some of our more ambitious computer hackers. Click here to view 10 of the costliest cyber crimes of all time.
The business of computer hacking is certainly booming, with hack-related losses totaling a staggering trillion dollars per year worldwide. In February, Ponemon Institute conducted a survey to determine the average loss a business incurs when it suffers a security breach. Reviewing cases from 43 organizations, the group finalized a figure: $6.6 million.
Bing: Cyber criminals
While that might seem like small potatoes for megacorporations like Wal-Mart (WMT) or Best Buy (BBY) -- which experienced data leaks in 2006 and 2007, respectively -- the cost of clients' files being released into the hands of a nefarious hacker could ruin a smaller company.
Read More...
-
Posted
Aug 03 2009, 09:01 AM
by
Minyanville
Rating:
Money Blog: Top Stocks Blog - MSN Money
This article was written by Minyanville's Mike Schuster
RadioShack (RSH) -- the store you pass on the way to the pet shop window -- is on the precipice of an image overhaul. Coming on the heels of a partnership with T-Mobile (DT) to sell its phones in-store, RadioShack will press its luck on a new name.
According to Engadget, new storefront signs will read "The Shack" sometime later this year -- a move that will likely garner a cease-and-desist from Mr. O'Neal soon after.
Like KFC (YUM) dropping the "Kentucky" and equally disparaging "Fried," the chain seems to be changing its name to appeal to a younger, hipper crowd. If there's one thing today's urban youth likes most, it's pushy salespeople beside a rack of transistors and electrolytic capacitors.
(See also: Pizza Hut TV: Mouth-Watering, or Half-Baked?)
The company's re-branding is part of a massive bi-coastal event taking place from August 6th through 8th and promoted on its official Web site. Dubbed "The Shack Summer Netogether," the gala will feature 14-foot laptops in New York's Times Square and San Francisco's Justin Herman Plaza streaming live video from one another. Bands and entertainers are set to perform in between games and contests.
Read More...
-
Posted
Jul 20 2009, 11:47 AM
by
Kim Peterson
Rating:
Money Blog: Top Stocks Blog - MSN Money
 Best Buy (BBY) is the last man standing. The last remaining national electronics chain, now that Circuit City and others are gone.
But is that a good thing?
The New York Times looks at the peculiar circumstances of Best Buy, a company whose future is still a question mark despite complete domination of the brick-and-mortar electronics retailing business. If you need a flat-screen television today, chances are you'll stop by (if there's a Best Buy in your town).
So why isn't Best Buy more respected by analysts?
Read More...
-
Posted
Jun 16 2009, 09:43 AM
by
Minyanville
Money Blog: Top Stocks Blog - MSN Money
Here’s what I’m seeing today:
Best Buy (BBY):
The electronics chain that clearly needs no introduction released its first-quarter results before the bell this morning.
Profit was down 15%, but excluding items, Best Buy earned 42 cents per share, which was notably better than the 34 cents analysts had been figuring on.
There was a 6.2% comp-store decline, and the better-than expected earnings may have been factored into the share price; the stock is down today. That said, there are 3 positives that make it worth checking out
Read More...
-
Posted
Jun 15 2009, 04:44 PM
by
James Dlugosch
Rating:
Money Blog: Top Stocks Blog - MSN Money
This weekend marked the last day of business for the Virgin Megastore chain in the United States. Like many retailers, the company has struggled during the current recession, and Sunday it shuttered its last two stores, in Manhattan and Hollywood.
Its fate, and that of most of the big chain record shops, was sealed in 2001 when Apple (AAPL) unleashed its game-changing iPod.
Why go to a store to buy an outdated CD? Digital music platforms give us the ability to download music at the click of a button. And you buy only the songs you want; online you can make your mix.
Forget about vinyl, of course. Those old LPs are the refuge of audiophiles and independent record stores, who might now carry more CDs as well. These independents are putting up a brave fight, but they're ultimately no match for technology.
Read More...
-
Posted
Jun 04 2009, 03:37 AM
by
Douglas McIntyre
Rating:
Money Blog: Top Stocks Blog - MSN Money
Many big-box retailers, including Best Buy (BBY), Target (TGT), and Costco (COST), are struggling as the recession beats down their same-store sales. General retailers such as Sears (SHLD) are not faring any better. That means that the layoffs in the retail industry, which have already been extensive, are likely to continue, especially if the 2009 holiday season is weak.
Wal-Mart (WMT) is at the other end of the spectrum, by itself. The world’s largest retailer says it will add 22,000 jobs at its U.S. stores this year. That is down slightly from 2008, but in an economy that is forcing hundreds of thousands of people out of work each month, it is extremely impressive.
Read More...
More Posts Next page »
|
