Tuesday, March 29, 2011

The Best Buy (NYSE: BBY)

NEW YORK - Best Buy's shares are down 1.5% as the electronics retail giant stock has not yet recovered from the massive sell off seen after the company reported its Q4 results on March 24. Since then the company's stock has lost nearly 10% of its value. The company announced comparable same store sales would drop for 2011 from 0 to 3%. However the company expects to see revenue growth because of new store openings. The comparable store sales also does not include the 14% increase in online revenue to $2.5 billion for the year.

Best Buy plans to open 5 new stores in the UK this year. The company arrived in the UK last year with the purchase of CarPhone Warehouse;

To read our premium Best Buy report click here.

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