Santa Baby... A New BlackBerry?
I'm clearly not normal. At least,that's what I understand when I hear that flat panel TVs, GPS systems, computers and video games are at the top of gift request lists again this year. I only bought a new iPod when my old one died (Apple customer service leaves a lot to be desired) and I couldn't begin to tell you any details about my TV, other than it fits my entertainment center nicely...
Apparently, Americans and now Canadians and Chinese are hungry for gadgets, so says Best Buy. The company's earnings for the second quarter beat Wall Street estimates by more than a dime. Coming in at 55 cents per share vs. a consensus estimate of 44 cents per share, according to Thomson estimates.
In fact, demand for tech toys is so high that the company raised its guidance for the holidays to $3-3.15 EPS on the year. Analyst Chris Horvers of Bear Stearns says the real story is that consumers are slowing down even though demand is still strong for electronics; much of Best Buy's success came from international sales growth and the earnings boost came from pinching costs on margins.
Still, the only piece of electronics that I want for Christmas or any other holiday is a new BlackBerry! Hopefully, GE/CNBC will be fulfilling that soon -- otherwise, these blogs won't get posted too often!
Anyhow, CNBC will start counting you down to Holiday Central starting September 25, so email me with any thoughts regarding what we should be watching for from consumers this season.
Questions? Comments? firstname.lastname@example.org