Best Buy (BBY) Can't Deliver on Some Black Friday Deals, and That's Bad...
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Trading in shares of Best Buy (NYSE: BBY) is rather quiet Thursday as investors may be debating whether some news on the company from Wednesday evening was good or bad.
According to reports, Best Buy received such strong demand on Black Friday, the big-box retailer said it will be unable to fulfill some orders.
In an emailed statement to several news stations, Best Buy said, "Due to overwhelming demand of hot product offerings on BestBuy.com during the November and December time period, we have encountered a situation that has affected redemption of some of our customers’ online orders." The company has notified the affected customers.
Two things to be addressed:
Sure, Best Buy might've been taking the cautious approach, planning for order cancellations and such. But with shoppers reaching out to Amazon.com (Nasdaq: AMZN), Wal-mart (NYSE: WMT), Target (NYSE: TGT), and others, the term "any press is good press" may not apply in this situation.
After all, aren't the holidays stressful enough?
With that, Best Buy shares are up 0.3 percent Thursday.
According to reports, Best Buy received such strong demand on Black Friday, the big-box retailer said it will be unable to fulfill some orders.
In an emailed statement to several news stations, Best Buy said, "Due to overwhelming demand of hot product offerings on BestBuy.com during the November and December time period, we have encountered a situation that has affected redemption of some of our customers’ online orders." The company has notified the affected customers.
Two things to be addressed:
- Better activity at Best Buy, whether BestBuy.com or brick-and-mortar, is good.
- Last quarter, Best Buy reported a miss on compressed margins as sales discounts deepened in order to spur turnover.
Sure, Best Buy might've been taking the cautious approach, planning for order cancellations and such. But with shoppers reaching out to Amazon.com (Nasdaq: AMZN), Wal-mart (NYSE: WMT), Target (NYSE: TGT), and others, the term "any press is good press" may not apply in this situation.
After all, aren't the holidays stressful enough?
With that, Best Buy shares are up 0.3 percent Thursday.
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