BloggingStocks http://www.bloggingstocks.com BloggingStocks http://www.blogsmithmedia.com/http://www.bloggingstocks.com/media/feedlogo.gif BloggingStocks http://www.bloggingstocks.com en-us Copyright 2012 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[Best Buy CFO hints of video game industry involvement]]>http://www.bloggingstocks.com/2009/09/28/best-buy-cfo-hints-of-video-game-industry-involvement/http://www.bloggingstocks.com/2009/09/28/best-buy-cfo-hints-of-video-game-industry-involvement/http://www.bloggingstocks.com/2009/09/28/best-buy-cfo-hints-of-video-game-industry-involvement/#commentsFiled under: , ,

Just a few weeks after speculation that Best Buy Co. (NYSE: BBY) may be on the lookout for buying up video game retailer Gamestop Corp. (NYSE: GME), the CFO of the largest consumer electronics company in the U.S. is now saying that the used video game industry is "strategically very interesting." This is sly-speak for "we're on the prowl for the acquisition in the space that makes the best sense."

Continue reading Best Buy CFO hints of video game industry involvement

Best Buy CFO hints of video game industry involvement originally appeared on BloggingStocks on Mon, 28 Sep 2009 14:40:00 EST. Please see our terms for use of feeds.

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Best Buy, Inc. (NYSE: BBY) shares were downgraded by Goldman Sachs from Buy to Neutral this week. Analyst Matthew Fassler indicated that Best Buy would continue to see increased pressure from online retailers, as well as mass discounters like Wal-Mart Stores, Inc. (NYSE: WMT), which continues to upgrade its consumer electronics assortment and brand selection.

On the Wal-Mart front, the largest retailer in the world still is vastly inferior to Best Buy in terms of brand selection, assortment and even pricing -- so Fassler may be calling this a little too early. In the flat-panel television and PC categories, for example, Best Buy continually outshines Wal-Mart in just about every way from this writer's chair. Perhaps Wal-Mart will get better. Target Corp. (NYSE: TGT), on the other hand, is nowhere close to either Best Buy or Wal-Mart.

Continue reading Best Buy downgraded by Goldman on fears of Wal-Mart competition

Best Buy downgraded by Goldman on fears of Wal-Mart competition originally appeared on BloggingStocks on Wed, 12 Aug 2009 08:30:00 EST. Please see our terms for use of feeds.

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Wal-Mart Stores Inc. (NYSE: WMT) has been improving its consumer electronics sections in stores for some time now as a way to better compete with national retailer Best Buy, Inc. (NYSE: BBY). Best Buy has, from what I have seen, been way more aggressive in laptop PC pricing for at least a year.

Continue reading Wal-Mart drops laptop PC prices for back-to-school shoppers

Wal-Mart drops laptop PC prices for back-to-school shoppers originally appeared on BloggingStocks on Thu, 23 Jul 2009 14:00:00 EST. Please see our terms for use of feeds.

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Now that Best Buy, Inc. (NYSE: BBY) is the last surviving member of the national specialty consumer electronics retail club, where can it go? Up and up. Sure, mass chains like Wal-Mart Stores, Inc. (NYSE: WMT) and others have stepped up to the plate and are greatly enhancing their consumer electronics sections, but then again Best Buy has a new CEO who is thinking differently and isn't going to give an inch if he can help it.

Continue reading Is Best Buy lonely at the top? Doubtful

Is Best Buy lonely at the top? Doubtful originally appeared on BloggingStocks on Wed, 22 Jul 2009 09:30:00 EST. Please see our terms for use of feeds.

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Best Buy Co. (NYSE: BBY) has seen some success in its Canadian stores in selling used video games. Due to that, used video games may come to U.S. stores this year, opening up a new avenue for foot traffic into the largest consumer electronics retailer in the U.S. Why rent video games when you can purchase them at heavy discounts?

Continue reading Best Buy (BBY) starts rollout of used video game sales in U.S. stores

Best Buy (BBY) starts rollout of used video game sales in U.S. stores originally appeared on BloggingStocks on Wed, 01 Jul 2009 15:20:00 EST. Please see our terms for use of feeds.

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When the Napster brand woke up the music industry using illegal downloading almost a decade ago by allowing digital music swapping across the internet, a completely new cottage industry was born. Pretty shortly, Apple, Inc. (NASDAQ: AAPL) came long with its iPod and iTunes product and made the business model work for legally downloading music. On that note, Apple has the lion's share of music downloading business at this time, although many a competitor has cropped up in the last five years.

Continue reading Best Buy's Napster takes a value stab at Apple's iTunes

Best Buy's Napster takes a value stab at Apple's iTunes originally appeared on BloggingStocks on Wed, 20 May 2009 18:20:00 EST. Please see our terms for use of feeds.

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Best Buy, Inc. (NYSE: BBY) is leading the way in sales of movies and other content on the surging Blu-ray format. Ever since the competing high-definition format HD-DVD went defunct in 2007, Blu-ray has steadily climbed into the driver's seat of disc-based content sales. While traditional DVD sales still dwarf Blu-ray sales, the high-def format is gaining sold ground. With it, Best Buy has become the format's best friend.

Continue reading Best Buy leads retailers in Blu-ray disc sales surge

Best Buy leads retailers in Blu-ray disc sales surge originally appeared on BloggingStocks on Tue, 12 May 2009 18:00:00 EST. Please see our terms for use of feeds.

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Best Buy, Inc. (NYSE: BBY) won the war with defunct rival Circuit City. Circuit City's demise was based on so many fundamental pieces of mismanagement it was amazing the company lasted into 2009. Now that it is gone, Best Buy stands alone with the larger discount retail chains and online superstores as the places tens of millions of Americans shop for this consumer electronics.

Continue reading Is Best Buy making a Circuit City mistake?

Is Best Buy making a Circuit City mistake? originally appeared on BloggingStocks on Mon, 27 Apr 2009 15:50:00 EST. Please see our terms for use of feeds.

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Consumer electronics retailer Best Buy Inc. (NYSE: BBY) is starting to find out that many consumers don't necessarily want to own movies on DVD any longer. In fact, DVD sales have been floundering and the replacement format, Blu-ray, still has a long way to go in order to catch up with the standard DVD format.

Continue reading Best Buy gets into movie downloads as DVD sales tank

Best Buy gets into movie downloads as DVD sales tank originally appeared on BloggingStocks on Mon, 20 Apr 2009 18:20:00 EST. Please see our terms for use of feeds.

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When Best Buy, Inc. (NYSE: BBY) said during the recent holiday season that it was a very tough time in the retail industry, many believed it. Just a few short months later, the largest consumer electronics retailer in the U.S. went on to have a decent quarter in the midst of the current recession -- due in part to the vanishing of its largest direct competitor, Circuit City Stores.

Continue reading Best Buy (BBY) gets no love from Pali Capital analyst

Best Buy (BBY) gets no love from Pali Capital analyst originally appeared on BloggingStocks on Fri, 17 Apr 2009 15:20:00 EST. Please see our terms for use of feeds.

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Although consumer electronics retailer Best Buy, Inc. (NYSE: BBY) reported decent results during its latest quarter, the addition of sales from Circuit City's demise may be hiding inside those results. You can't just banish billions in quarterly revenue to nowhere, and when Circuit City folded for good last month, many retailers were still swimming in the sales wake left behind.

Continue reading Best Buy outlines strategy for growth in a tough economy

Best Buy outlines strategy for growth in a tough economy originally appeared on BloggingStocks on Wed, 01 Apr 2009 14:10:00 EST. Please see our terms for use of feeds.

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Best Buy, Inc. (NYSE: BBY) won't be entering into the United Kingdom this year, even after entering into a lucrative (at the time) partnership with the UK's Carphone Warehouse in mid-2008. The UK's Financial Times indicated that a launch may come in the first quarter of 2010, but between now and then, anything could change.

Continue reading Best Buy delays launch of first store in the UK

Best Buy delays launch of first store in the UK originally appeared on BloggingStocks on Wed, 04 Mar 2009 17:40:00 EST. Please see our terms for use of feeds.

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Best Buy, Inc. (NYSE: BBY) has been hurting like most retailers in the face of the U.S. and global economic crisis, but the only silver lining that it may have seen recently has been the collapse and liquidation of its largest competitor, Circuit City. Best Buy will now have one less competitor in the marketplace, but is also seeing increased focus by the large mass merchants on the consumer electronics side of merchandising.

Facing that, the largest consumer electronics retailer in the U.S. will need to be more creative in attracting the right customer at the right time and converting as many shoppers to buyers as possible. As a result, Best Buy has joined up with consumer behavior marketer Omniture to help it understand the metrics that convert as many consumers in the consumer electronics market to Best Buy purchasers.

Continue reading Best Buy uses Omniture to model consumer spending behavior

Best Buy uses Omniture to model consumer spending behavior originally appeared on BloggingStocks on Wed, 11 Feb 2009 14:40:00 EST. Please see our terms for use of feeds.

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When Best Buy, Inc. (NYSE: BBY) announced that CEO Brad Anderson would retire this summer, the obvious choice to replace him was current COO and President Brian Dunn. After all, Dunn is a Best Buy vet and has had a hand in making Best Buy the top consumer electronics retailer in the U.S. With Anderson and Dunn running the show, Best Buy rose past every competitor and held the larger mass merchants at bay.

The retailer has not had an easy time with the recent consumer spending slowdown, but its fundamentals are very solid and it retains a competitive advantage. Consumers continue spending money at Best Buy, and voting with dollars is a sign of success. Dunn will face one of the hardest times in Best Buy's history since consumers have tightened their collective purse strings. Still, he is the right pick and Best Buy's long-term future continues to be very bright, the current retail malaise not withstanding.

Continue reading With new CEO Best Buy's future looks bright

With new CEO Best Buy's future looks bright originally appeared on BloggingStocks on Wed, 28 Jan 2009 11:45:00 EST. Please see our terms for use of feeds.

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Best Buy, Inc. (NYSE: BBY) may be the initial retail partner to carry what is turning out to be a the most talked-about wireless handset since the iPhone made its debut over two years ago. The Palm, Inc. (NASDAQ:PALM) Palm Pre, which will initially only be available on the Sprint Nextel Corp. (NYSE: S) network, will benefit immensely from finding the right retail partner to boost sales.

So far, it's too hard to tell how well the Pre will do against the iPhone and other handsets based on Windows Mobile or Android -- but early previews are encouraging. The Pre packs a decent amount of horsepower with one slick design -- and it would be amusing to see it marketed alongside the iPhone at Best Buy. Best Buy was also the first retailer partner to be able and sell the iPhone last September, so scoring the Pre would be another win for the retailer.

Can the Pre save Palm from oblivion? That's hard to imagine, but this single product launch is probably the most important in the history of the company. Without a knockout product that sells like gangbusters, Palm may not have much left in its intellectual or technological arsenal. It's a big gamble, but a gamble, the company must make. Best Buy's large hand in the Pre's upcoming sales will be a huge boon to both Palm and Sprint.

Best Buy to carry the Palm Pre? originally appeared on BloggingStocks on Mon, 19 Jan 2009 13:45:00 EST. Please see our terms for use of feeds.

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Best Buy, Inc. (NYSE: BBY) is slicing $10 off the price of the 8GB Apple, Inc. (NASDAQ: AAPL) iPhone 3G, cutting its price to $189.99 through January 3rd. In addition, the 16GB version of the iPhone will drop to $289.99 as well. Wow! A measly $10 off a new iPhone! Stop the presses!

Best Buy's Scott Moore indicated that "we thought this would be a way to help customers right now." What a generous gift, yes? Truth be told, it's Apple who dictates to its retailer partners the prices they can sell Apple goods. This is why you'll see almost the exact same price for any Apple product no matter where you purchase it.

But, if Best Buy thinks whacking $10 off the price of an already-overpriced piece of hardware is doing customers a favor, something's in the food in Richfield. And, a $30 "setup fee" for the iPhone? What kind of nonsense is that? At least this fee is being waived along with this huge price reduction. Since Best Buy gives a free "walking out working" setup to all the other cellphones it sells, why on earth is there a $30 fee to setup the iPhone -- which is heralded as one of the easiest phones to setup anyway?

It's no secret that Best Buy has been hurt by the holiday season retail sales slowdown -- it has said as much -- but I'm not sure this is any way to help that situation. That is, unless customers are expected to line up to save the cost of a single movie ticket to a device that locks them into more than $1,600 in calling and data plan contract fees over a 24-month period. What a mark that $10 will have, yes? If Apple and Best Buy really want to "help out" more customers, it sure needs to be more than a measly $10 pittance.

Best Buy whacks iPhone price by $10; gets rid of $30 setup fee also originally appeared on BloggingStocks on Fri, 26 Dec 2008 10:00:00 EST. Please see our terms for use of feeds.

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Best Buy, Inc. (NYSE: BBY) has been predicting dire times recently. Strangely, though, the retailer's locations in my area seem to be packed every single time I pay a visit. Yet, the nation's largest consumer electronics retailer, which has a "virtual monopoly" in the market it serves, is seeing the worst sales period in its entire history. What gives?

The retailer this week reported Q3 sales of $11.5 billion, with earnings of $52 million. That's a sharp drop from the year-ago earnings amount of $228 million, causing CEO Brad Anderson to indicate cutbacks were afoot at the retailer soon. Among them: offering voluntary buyouts to nearly all of its 4,000 corporate employees along with the possibility for layoffs if too few of these employees take up the retailer on its offer.

Best Buy dare not cut staff at its stores unless it is 100% needed. Any company who takes away from the direct customer experience -- in any form -- is just asking for trouble. Since Best Buy now has what could be considered a marketplace pretty much open to just itself, the world will be its oyster once the economy recovers. Until then, shoppers may be looking elsewhere for their electronics, looking but not buying or buying a whole lot less. And that will keep Best Buy behind the eight ball for quite a while regardless of its dominant market position.

Best Buy (BBY) earnings drop 77% - retailer offers buyouts to almost all employees originally appeared on BloggingStocks on Fri, 19 Dec 2008 15:32:00 EST. Please see our terms for use of feeds.

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Best Buy Co. (NYSE: BBY), which had dire predictions for its near-future results just recently, will report quarterly results for its Q3 period this morning at 9:00am CT. Although the consumer electronics retailer is in the boat with almost every other retailer in the process of suffering from a large consumer spending slowdown this holiday season, it's still positioned to be one of the long-term winners competing for shopper dollars.

The reason for this is because it now sits atop the consumer electronics world by itself. Fellow retailer Circuit City's Stores Inc.'s (NYSE: CC) Chapter 11 bankruptcy filing is causing havoc at that competitor, and the five or six times I've scouted local Circuit City stores this month have turned out to be ghost town visits more than anything. Consumers are apparently staying away from Circuit City stores in drives. On the flip side, the many times I've visited Best Buy stores have seen packed houses. Wal-Mart Stores, Inc. (NYSE: WMT) is not the only retailer doing well this holiday season. Just a guess, anyway.

Thomas Bradley of KeyBanc indicated that Best Buy now has a "virtual national monopoly" in the consumer-electronics sector. He's very correct -- who else competes with Best Buy on a national retailer level? One can argue all day long that companies like Wal-Mart and Costco Wholesale Corp. (NASDAQ: COST) are competitors, but neither offers the breadth of consumer electronics, the individual selections nor the specialized services Best Buy does. It does consumer electronics and does them very well -- and now it how no national competitor. Once the economy takes an upswing (and it will), Best Buy will have the market cornered, and that could turn out to give the retailer a very good 2009 indeed.

Best Buy a top analyst pick for 2009 originally appeared on BloggingStocks on Wed, 17 Dec 2008 14:39:00 EST. Please see our terms for use of feeds.

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Dell Inc. (NASDAQ: DELL) came in second to global PC sales leader Hewlett-Packard Co. (NYSE: HPQ) during the Black Friday shopping frenzy and the ensuing weekend, according to analyst firm Thomas Weisel Partners. The report, however, analyzed sales only at a single retailer, Best Buy Co. (NYSE: BBY).

Thomas Weisel analyst Doug Reid indicated that holiday PC buyers were preferring Hewlett-Packard's PC five to one over Dell's PCs at the largest consumer electronics retailer in the U.S. While Reid's survey only looked at 35 stores, that's enough to generate a statistically legitmate finding. Reid went on to say that "Dell has significant work to do . . . the only negative comments in our survey with respect to brand were aimed at Dell, with survey respondents noting potential quality issues.''

Is Dell's retail strategy working as well as founder Michael Dell had hoped when he aggressively launched his retail strategy in the summer of 2007? Doubtful, and competitor HP has not stood still since that moment, and has actually increased its market share in retail with stylish designs, many configurations and aggressive pricing that keeps a large thumb on Dell's retail efforts. From looking at some of the top retailers this past three-day shopping holiday, HP's laptop offerings were certainly more numerous than Dell's. If that presence translates to more shelf space, then there you go.

Hewlett-Packard beats Dell in weekend sales at Best Buy originally appeared on BloggingStocks on Tue, 02 Dec 2008 14:12:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>BBYBest BuyBestBuyBlack FridayBlackFridayDellHewlett-PackardHPQInc.inthenewsREtail PC salesRetailPcSalesTue, 02 Dec 2008 14:12:00 EST<![CDATA[Best Buy (BBY) discounts Apple (AAPL) MacBooks in rare move]]>http://www.bloggingstocks.com/2008/11/26/best-buy-bby-discounts-apple-aapl-macbooks-in-rare-showing/http://www.bloggingstocks.com/2008/11/26/best-buy-bby-discounts-apple-aapl-macbooks-in-rare-showing/http://www.bloggingstocks.com/2008/11/26/best-buy-bby-discounts-apple-aapl-macbooks-in-rare-showing/#commentsFiled under: , ,

When Best Buy, Inc. (NYSE: BBY) starts discounting the normally un-discountable Apple, Inc. (NASDAQ: AAPL) MacBook laptop computer, we know it's a tough selling season. That's just what the largest consumer electronics retailer has done, though, as the cheapest MacBook being sold right now comes in at under $900. Until now, that's an unheard of price from any retailer.

Apple's grip on the MAP (minimum advertised price) for all retailers is strong. It's not known for heavy discounts -- or any discounts at all, actually. Apple's pricing arrogance, though, is part of what makes it so desirable. Talk to any salesperson who sells premium-priced products for a lecture on this if you'd like. Even so, Apple has had to cool its jets just this week on pricing at its own retail stores.

Then again, this is no normal retail landscape. Holiday retail sales are expected to be very bad and sales will be necessary to keep inventory turns up and product flowing. Sometimes they have to be made at any cost. The older Apple MacBook, which is still being sold even though newer models were just announced and released in October, is now being sold for $899. That's a full $100 under Apple's suggested list price. While it doesn't sound like a big discount, it is for an Apple system.

You'll notice that usually you don't see iPods or iPhones being discounted more than a dollar or two off Apple's list price. There's a reason for that, but it makes this $100 cut even more interesting. And some of the more pricier MacBooks being sold at Best Buy saw $100 and even $150 price cuts as well. Even Apple can't maintain its pricing smugness in this economy and keep sell-through where it needs it to be. Yes, there are market and purchasing conditions that can even pinch Apple, folks.

Best Buy (BBY) discounts Apple (AAPL) MacBooks in rare move originally appeared on BloggingStocks on Wed, 26 Nov 2008 11:00:00 EST. Please see our terms for use of feeds.

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