24/7 Insights
- Amazon has threatened Best Buy Co. Inc. (NYSE: BBY) revenues for over a decade.
Best Buy Co. Inc. (NYSE: BBY) shares recently jumped significantly. In the most recently reported earnings, per-share earnings topped analyst expectations at $1.20. However, revenue fell short of expectations, coming in at $8.85 billion against the consensus estimate of $8.97 billion. It is hard to celebrate the results of a company with revenue challenges. Best Buy is a good dividend stock.
After the recent jump, Best Buy shares are up 14% in the past year, compared to the S&P 500 at 25%. The stock of nemesis Amazon.com Inc. (NASDAQ: AMZN) is up 45% during the same period.
Amazon has threatened Best Buy’s revenues for over a decade. Millions of shoppers found it easier to purchase consumer electronics online. Even with Bestbuy.com’s success, its breadth is far short of Amazon’s.
Amazon sells much more than electronics, and its reach is massive. Its North American revenue in the most recent quarter was $86.34 billion, compared with $76.88 in the year-ago period.
Among Best Buy’s primary disadvantages is that it has 1,051 stores in the United States. This carries rent, personnel, and, more recently, the theft that has troubled all major retailers.
Best Buy is not alone. For years, Amazon has been viewed as taking sales from every major retailer in the country. This has injured several of these stock prices, and Best Buy is no exception.
Millennials’ Favorite Consumer Electronics Brands: Ranked
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