Best Buy (BBY) Extends Winning Streak to Six Sessions
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March 12, 2013 7:14 AM EDT
Goldman Sachs reinstates coverage on Best Buy (NYSE: BBY) with a Buy rating and $25 price target, suggesting 25% upside. The firm said cost cuts will drive improved profitability.
"Management changes are catalyzing a more realistic approach to pricing; substantial cost cuts; and, the... More
March 1, 2013 8:01 AM EST
(Updated - March 1, 2013 8:06 AM EST)
Best Buy Co., Inc. (NYSE: BBY) reported Q4 adjusted EPS of $1.64, versus the analyst estimate of $1.53. Revenue for the quarter came in at $16.71 billion versus the consensus estimate of $16.32 billion.
Domestic comps rose 0.9 percent in the quarter. Online revs rose 11 percent.
International comps fell 6.6 percent. Best Buy noted, "Positive comparable store sales in Europe were more than offset by declines in... More
