| To: TH who wrote (955) | 12/6/2002 1:52:57 AM | | From: Patric Von Swarengen | | | | you started this thread 6 years ago? Wow, you are dedicated.
What exactly do you like about "the numbers"?
I'm not an account, and trade on instincts, and my "guts" say, XMAS spending shouldn't be any worse than last year, and last year the stock was worth 40+. It's probably a deal at 28(my entry point).
But there is always someone who will bag on stuff like "customer services sucks this year, margins are smaller this year....walmart has electronics....etc..." |
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| To: Patric Von Swarengen who wrote (956) | 12/6/2002 11:45:11 AM | | From: TH | | | | PVS,
"you started this thread 6 years ago? Wow, you are dedicated."
I did not start this thread, but I wish I did as I would have reaped the reward of 6 years of investment in BBY.
I like the fact that BBY did OK on SSS with a full week less of X-mas shopping in Q3 02. Certainly .3% is not great, but with the current economic conditions this just screams "well run business". Firming up the Q3 02 earnings a bit also helps with the current PE.
I like BBY at this level. At $40 I would not be too sure. It about being able to buy the number 1 in the sector at a fair multiple relative the rest of the S&P.
I expect to see mid-30s within 6-8 weeks, and that is a decent return by any standard.
Wal-mart is a concern, but not a major one. Where is Wal-mart going to put the stuff to compete with the range BBY offers? But Wal-mart may suck some away from BBY on the low end, and I will be watching that.
Good Luck
TH |
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| To: Patric Von Swarengen who wrote (958) | 12/8/2002 2:26:33 PM | | From: Nutty Buddy | | | | Best Buy Unpreferred Customer Weekend:
These weekends are not what they used to be. Case in point:
"Free $25 Best Buy Gift Card Instantly* when you spend $150 or more on any combination of Music, Movies and Video Games"
then read the fine print "Excludes advertised items". Heck, most of their "advertised items" aren't even a reduced price and they get excluded?
"10% Off regularly priced Music and Movie titles, any combination. Limit 5.*"
10% off their regular prices isn't much of a deal, IMO.
"Take 10% off any single item* from these categories:"
One category is Computer Products which stipulates "DVD-RW drives, flash memory, printers $149 & up, etc, etc...." I assume that desktop systems, laptops, monitors, hard & CD-RW drives, video and sound cards, etc., etc...are not included since they are not stipulated.
I've never seen such a restrictive Preferred Customer Weekend at Best Buy. I didn't even bother to shop there, like I've done the past few months. Circuit City is now my hangout...can't believe I'm saying that!
Buddy |
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| To: Patric Von Swarengen who wrote (960) | 1/9/2003 10:09:58 AM | | From: TH | | | | Patric,
I am still holding BBY. In the green now on my latest positions and I added a little bit more in the mid 23 range.
Provided the market does not tank, I'm thinking low 30s are possible in the near term.
Looking at the report today, BBY seems to have done a fine job in somewhat ugly retail conditions. I am interested in what the call at 11 today will address. Some comments from locals indicate that some of the dog Sam Goody's stores will be closed. Without knowing the details I would assume that is going to be a positive event for the stock price and the bottom line.
Good Luck
TH |
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| To: TH who wrote (962) | 8/23/2004 2:22:37 AM | | From: Binx Bolling | | | | Attorney General Jim Petro Sues Best Buy For Unacceptable Business Practices
August 19 , 2004
Best Buy Complaint (as filed)
Sound Clip from Press Conference
COLUMBUS - Attorney General Jim Petro today filed suit against Minnesota-based Best Buy Co., Inc. (“Best Buy”), which operates retail outlets throughout Ohio and via the Internet. The lawsuit alleges that Best Buy engaged in a pattern of unfair and deceptive acts and practices. The Attorney General’s Office received hundreds of consumer complaints during the last few years with the highest concentration of complaints alleging, among other things, that Best Buy repackaged used goods and sold them as new, failed to honor rebates, failed to honor refund and exchange programs, and failed to honor extended service contracts.
“The sheer number of complaints coupled with the types of allegations my office received prompted us to file this lawsuit.” Petro said. “The primary objective of this lawsuit is to bring Best Buy into conformity with Ohio’s consumer protection laws and ensure that Best Buy’s Ohio customers receive the service they deserve.”
Additional Consumer Sales Practices Act violations alleged in the lawsuit include: failure to honor implied warranties of merchantability, substandard and/or inadequate customer service, and making false and misleading statements to consumers.
In the complaint, Petro asked the court to prohibit Best Buy from engaging in practices that violate the Consumer Sales Practices Act, and to order Best Buy to reimburse consumers who lost money or otherwise did not receive the full service they were promised. The complaint also asks that Best Buy pay a civil penalty of $25,000 for each violation of the Consumer Sales Practices Act.
Best Buy is a Minnesota corporation located at 7601 Penn Ave., Richfield, Minn.
For Additional Information on this Press Release:
CONTACT: Michelle Gatchell, Attorney General’s Office, at (614) 466-3840 |
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| From: Jagfan | 4/4/2005 10:05:33 AM | | | | | | 4/4/2005 BBY Best Buy Co., Inc. downgraded
Last: 50.45
-0.15 Jefferies & Co. Cites earnings outlook, weak same-store sales forecast for first quarter, falling prices of flat screen HDTVs, lower margin sales mix. Cuts price target to range of $48 to $53 from $60 |
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