Best Buy Earnings Call, First Quarter 2009
28th June 2008 00:00 AM |
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| The gross profit rate for Q1 was 23.7% of revenue, a decline of 20 basis points from Q1 of 2008 due to the mix of the revenue growth. |
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| The operator of an international portfolio of brands reported increased Q1 revenues of $9 billion versus $7.9 billion for the first quarter of fiscal 2008. The net earnings were $179 million compared with $192 million for the prior year. The operating income grew solidly, helped by new store openings and a comparable store sales increase of 3.7%. The management is optimistic that the company is on track to delivering EPS range of $3.25 to $3.40 for the fiscal year. |
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Best Buy Fourth Quarter Earnings Call
7th April 2008 00:00 AM |
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| Earnings slipped 3% to $737 million as customer traffic slowed after the holidays. |
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| The consumer electronics retailer’s revenue was up 4% to $13.42 billion. Same-store sales declined 0.2%, despite growth in sales internationally. The decline at U.S. stores was 0.9%. The gross profit rate declined by 40 basis points, year-over-year, to 23.7% of revenue. Expense rate improvements in the domestic segment were partially offset by investments to support and to grow the international segment. For fiscal 2009, the company expects earnings of $3.25 to $3.40 per share. |
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Best Buy Third Quarter Earnings Call
19th December 2007 00:00 AM |
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| The company posted a higher-than-expected profit of $228 million on strong sales. |
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| The consumer electronics retailer reported revenue increase to $9.93 billion from $8.47 billion a year ago. Same-store sales rose 6.7%.Best Buy said strong demand for flat-panel TVs, notebook computers and GPS devices drove its same-store sales gains and helped to offset sales declines in projection and tube TVs, DVDs and CDs. Best Buy''s higher-margin installation and repair services offered by its Geek Squad team, reported a 5.6% same-store sales gain. |
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Best Buy First Quarter Earnings Call
17th October 2007 00:00 AM |
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| Income fell 18% from $234 million or 47 cents a share in 2006 to $192 million or 39 cents a share, due to higher sales of lower margin products. |
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| The global brand portfolio firm reported a 14% rise in revenue to $7.93 billion, reflecting the addition of 230 new stores and increased online transactions, as it added features and capabilities to its websites. Despite the revenue growth, results were below expectations, as a soft retail environment coupled with a significant mix change in the business reduced earnings. Recently adopted initiatives are expected to grow the bottom line, leading to upward revision of earnings guidance. |
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Best Buy Second Quarter Earnings Call
26th September 2007 00:00 AM |
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| Profit increased 8.7% to $250 million, as international demand and sales of flat-panel television and video game products surged. |
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| The consumer electronics retailer revenue rose 15% to $8.75 billion, surpassing analysts’ expectations of $8.48 billion. The rise in revenue was driven by new U.S. store openings, strong growth in the international segment and a company comparable store sales gain of 3.6 %. The gross profit rate declined by 60 basis points, due to the addition of the China business and increased revenue from low-margin computers and video gaming hardware. For 2007, EPS are expected to be $3 to $3.15 per share. |
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Best Buy Fourth Quarter Earnings Call
5th April 2007 00:00 AM |
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| Aided by strong television sales, earnings grew 18.5% to $763 million, up from $644 million in the year ago period. |
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| The leading consumer electronics chain of the US reported revenue of $12.9 billion, up 21% from prior year, fueled by 5.9% growth in same store sales as well as newly opened and acquired stores. Best Buy will be offering Apple computers in its 200 stores from the fall and expects to expand it to 900 stores by the end of this year. The firm, which has operations in Canada and China, is mulling entry into Mexico and Turkey. For fiscal 2008, the firm is forecasting EPS of $3.10 to $3.25. |
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