Joe Feldman, Telsey Advisory Group assistant director of research, discusses Best Buy's holiday sales miss and explains his optimistic outlook. "Best buy is a highly relevant retailer and will be for some time," Feldman says.
Best Buy comparable store sales fell by 0.9%, analysts expected an increase of 2%. CNBC's Courtney Reagan discusses her conversation with CEO Hubert Joly about the negative numbers.
Best Buy said revenue and sales at its established U.S stores fell in the holiday season due to intense discounting by rivals.
Happy Thursday. Welcome to the always commercial-free morning six-pack.
Brian Nagel, Oppenheimer analyst, has the read on Best Buy's holiday sales numbers, citing the ongoing challenges in the consumer electronics space.
Efforts to eliminate showrooming from shoppers' behavior paid off in 2013, as a significantly smaller dollar amount was spent from this behavior.
Analysts say retailers' big challenge will be to figure out a way to attract customers without giving away the store, as many did this holiday.
Companies are investing more in employee wellness programs—a trend that's getting companies such as Fitbit a lot of attention.
Digging into a few momentum names including Netflix and Best Buy, and whether they have more room to run, with CNBC's Herb Greenberg, and Paul Hickey, Bespoke Investment Group.
As Zynga becomes the latest adopter of the digital currency, the move highlights a budding trend: businesses adopting bitcoin to woo a key consumer demographic.
Some of Monday's midday movers:
Wall Street analysts are adjusting their 2014 forecasts for retail, and although they're generally cautious, they do see some positive signs.
Often times when a stock gains this much, Jim Cramer is hesitant to ‘chase.’ But in this case, Cramer doesn't consider it chasing.
For investors in internet stocks, it was a banner year. But the gains haven't been anxiety-free,thanks to memories of the 1999 bubble and bust.
These companies will have to make significant changes if they're to become a Wall Street comeback story. The Fiscal Times reports.
Bricks-and-mortar stores lose out as e-commerce grows, but most retailers have now supplemented their shops with online businesses, the FT reports.
New game consoles from Sony and Microsoft are sold out in many stores, a hint that the business is turning into a two-horse race. The NYT reports.
According to ShopperTrak, traffic for the week ended Dec. 22 was down 21.2 percent year over year.
Best Buy shares are up nearly 250 percent this year. Peter Keith, Piper Jaffray senior research analyst likes the electronics company's robust product cycle. Michael Pachter, Wedbush Securities managing director of equity research, is calling for a drop in share price.
Sure we’ve had a big run,” Jim Cramer said. “But I think there are places where you can come right in and buy.”