Best Buy 2020 Strategy Off to Good Start, but We See Few Reasons to Change Our Conservative Outlook
No-moat Best Buy's third-quarter update gave us our first look at its 2020 strategy since its September investor event, and we see few reasons to change our conservative longer-term financial assumptions. While the market appears to be reacting to isolated events, including the iPhone X launch shifting into the fourth quarter and hurricane disruptions, we're more focused on the building blocks of management's 2021 targets of $43 billion in revenue (a 2.2% CAGR from 2017-21), $1.9 billion-$2.0 bi...Best Buy provides computing and mobile phones, consumer electronics, appliances, entertainment, services and other products. The company operates two reportable segments: Domestic, which is comprised of the operations in all states, districts and territories of the U.S. under various brand names including Best Buy, bestbuy.com, Best Buy Direct, Best Buy Express, Best Buy Mobile, Geek Squad, GreatCall, Magnolia and Pacific Kitchen and Home; and International, which is comprised of all operations in Canada and Mexico under the brand names Best Buy, Best Buy Express, Best Buy Mobile, Geek Squad and the domain names bestbuy.ca and bestbuy.com.mx.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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