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Best Buy Earnings: 'Showrooming,' Sales in Focus

Thursday, 28 Feb 2013 | 1:51 PM ET
Reagan: Best Buy Earnings Preview
CNBC's Courtney Reagan provides a look ahead to the retailer's quarterly numbers.

Best Buy says its fourth-quarter earnings report will be released before the bell Friday, a one-day delay "solely" to give former Chairman and CEO Richard Schulze time to make a bid for the company he founded.

He has until midnight Thursday to make a move for the Minnesota-based consumer electronics retailer.

The big box retailer is deploying various new strategies to turn the company around and combat "showrooming," including honoring online price matching all the time. (Read More: Best Buy Cuts 400 Jobs at Headquarters)

Still, Wall Street analysts are expecting same-store sales to fall 1 percent for the fourth quarter. The consensus estimate is $1.54 for earnings per share on $16.33 billion in revenue. According to Thomson Reuters, there are 22 analysts covering Best Buy, and most rate shares with a "hold" rating.

Year to date, Best Buy is the second-best performer in the S&P 500.

-By CNBC's Courtney Reagan; Follow her on Twitter @CourtReagan

Questions? Comments? Email us at consumernation@cnbc.com.

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