Best Buy retains 70% of sales despite move to curbside service amid Covid-19, 51,000-plus workers to be furloughed [MarketWatch]
Best Buy Co., Inc. (BBY)
Last best buy co., inc. earnings: 2/27 07:00 am
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Source: MarketWatch
Best Buy Co. Inc. said Wednesday that it has held on to 70% of its year-over-year sales despite the move to curbside-only service amid the Covid-19 outbreak. All of the consumer electronics retailer's domestic stores are closed to customers with the exception of the curbside service, and about 40 stores are shuttered entirely. Online sales have soared 250% with half of those orders using the curbside service, according to a statement from Corie Barry, chief executive of Best Buy. Sales for the nine weeks ending April 4 fell about 5%. In the eight days ending March 20, sales jumped 25% as customers purchased work-from-home-related items and items with which to freeze food. Sales slumped 30% from March 21. Best Buy has drawn down all of its $1.25 billion revolving credit facility and has suspended share repurchases. All retail and field staff who saw their hours cut by the move to curbside service are being paid for the hours they were scheduled through April 18. However, starting April
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BBY
News
- Best Buy Appoints Dylan Jadeja to Board of DirectorsBusiness Wire
- Best Buy (NYSE:BBY) had its price target lowered by analysts at The Goldman Sachs Group, Inc. from $95.00 to $93.00. They now have a "buy" rating on the stock.MarketBeat
- Best Buy (NYSE:BBY) had its price target raised by analysts at Daiwa Capital Markets from $76.00 to $80.00. They now have a "neutral" rating on the stock.MarketBeat
- Best Buy (NYSE:BBY) had its price target raised by analysts at JPMorgan Chase & Co. from $97.00 to $99.00.MarketBeat
- Best Buy (NYSE:BBY) was given a new $84.00 price target on by analysts at Truist Financial Corporation.MarketBeat
BBY
Earnings
- 11/25/25 - Beat
BBY
Sec Filings
- 12/5/25 - Form 10-Q
- 12/1/25 - Form 8-K
- 11/25/25 - Form 8-K
- BBY's page on the SEC website