Best Buy Set Up for Solid Fiscal 2017 Finish, but Evidence of Structural Industry Headwinds Lingers
Best Buy shares are soaring after better-than-expected second-quarter results highlighted by a domestic comps increase of 0.8% (versus expectations for flat growth), adjusted EPS of $0.57 (well ahead of the $0.38-$0.42 guidance range), and an upbeat outlook for the back half of the year. Some of the outperformance can be chalked up to Best Buy Canada, where last year's brand consolidation efforts did not disrupt customer retention as much as anticipated, resulting in international segment revenu...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.
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