S&P 500
7,226.20
+0.01%
Dow Jones
49,494.60
-0.62%
Nasdaq 100
27,685.40
+0.66%
Russell 2000
2,804.78
-0.02%
FTSE 100
10,364.50
0.00%
Nikkei 225
59,260.50
-0.78%

Investing

Troubled Best Buy (BBY) Holds To Guidane

Photo of Douglas A. McIntyre
By Douglas A. McIntyre Published
Follow 24/7 Wall St. on Google
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

Best Buy (NYSE: BBY) had poor December sales. That will not hurt its guidance, the company said.

It announced

The company is confirming its annual adjusted diluted EPS guidance in the range of $3.35 to $3.65 as previously disclosed in its press release dated December 13, 2011. This guidance includes the estimated impact from fiscal 2012 share repurchases and excludes the gain on the sale of investments and previously announced charges, which are comprised of the purchase of CPW’s share of the Best Buy Mobile profit share agreement, a non-cash impairment charge to reflect the write-down of Best Buy Europe goodwill, restructuring charges (primarily associated with U.K. big-box store closures) and other related charges.

December revenue was $8.4 billion, flat with the same month a year ago. Comparable store sales dropped by 1.2%

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

Continue Reading

Should Macy’s Have Hired 86,000 Holiday Workers?
Douglas A. McIntyre |

Should Macy’s Have Hired 86,000 Holiday Workers?

Does Macy's management regret adding 86,000 holiday workers? If management does not regret the move, should it?
Paul Ausick |

What Weighs Down Home Depot Shares on Earnings

Home Depot reported better-than-expected first-quarter fiscal 2015 results before markets opened Tuesday morning.
Douglas A. McIntyre |

Best Buy Screws Up Again: Is CEO In Trouble?

Best Buy (NYSE: BBY) shares plunged as it reported another weak quarter. CEO Brian J. Dunn may be closer to…
Why a Best Buy Earnings Beat Is Making Shareholders Unhappy
Paul Ausick |

Why a Best Buy Earnings Beat Is Making Shareholders Unhappy

Best Buy beat first-quarter estimates for earnings and revenues, but second-quarter guidance was a bit soft and the company did…
Target or Kohl’s: Who Will Have the Better Q4?
Chris Lange |

Target or Kohl’s: Who Will Have the Better Q4?

Look for more retailers to share their fiscal fourth-quarter results this week. Leading off the charge are Target and Kohl’s,…
Paul Ausick |

Another Disaster in Consumer Electronics Retail (HGG, BBY)

ThinkstockConsumer electronics retailer hhgregg inc. (NYSE: HGG) announced preliminary results for its fiscal third quarter this morning, and the results…
Paul Ausick |

More Pain For Research in Motion: Lower Guidance On Playbook Inventory Charge (RIMM, AAPL, AMZN, GOOG, SSNLF, BBY, WMT)

Smartphone pioneer Research in Motion Ltd. (NASDAQ: RIMM) has lowered its third-quarter guidance and said that it will take a…
Chris Lange |

Five Below Sales Go Under in the Fourth Quarter

Five Below announced increased sales from last year, but the total was less than previously guided. The retailer cited soft…
Paul Ausick |

Tiffany Lowers Guidance After Flat Holiday Sales

courtesy Tiffany & Co.Luxury retailer Tiffany & Co. (NYSE: TIF) this morning reported same-store sales totals for the two months…

Top Gaining Stocks

Cboe Global Markets
CBOE • Vol: 1,568,143
New Pluto Global
PSKY • Vol: 12,285,993
Seagate Technology
STX • Vol: 7,378,346
Oracle
ORCL • Vol: 26,317,675
Datadog
DDOG • Vol: 6,247,779

Top Losing Stocks

LKQ
LKQ • Vol: 4,367,433
Clorox
CLX • Vol: 13,260,523
Stryker
SYK • Vol: 4,519,455
Mohawk Industries
MHK • Vol: 1,859,865
Amgen
AMGN • Vol: 3,818,618