Best Buy Starts Fiscal 2020 on Strong Note, but Tariffs Likely to Curb Near-Term Upside Potential
No-moat Best Buy's solid start to fiscal 2020--comps of 1.1% (versus guidance of 0%-1%, 40 basis points of gross margin expansion to 23.7%, and adjusted EPS of $1.02 versus guidance of $0.83-$0.88)--should have been the top story coming out its first-quarter update, but questions about the impact of China import tariffs dominated headlines. Best Buy noted that it has been able to absorb the 10% increase on List 3 imported goods--which represented 7% of its cost of goods sold and largely accessor...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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