Best Buy Co Inc


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SKU: BBY Category:


Best Buy experienced an exceptional second quarter with $11.8 billion in sales an exceptionally good earnings beat. Its comparable sales grew by 20% and the management was successfully able to expand the operating income by as much as 40% as compared to the previous year. Best Buy’s online strategy has also continued to pay off as it digitally provided customers multiple ways to interact with the company depending on their needs, preference, and comfort which resulted in an online sales accounting for around 31.7% of domestic revenues. An increased consumer spending ability resulting from the government stimulus, improved wages and high saving levels is bolstering the demand for Best Buy’s offerings. The management is operating with a smaller field workforce than they were pre-pandemic which explains the higher margins and also reflects how the business model has changed. We are optimistic about the company’s long-term perspective and maintain our ‘Hold’ rating on the stock with a revised target price.

Our Report Structure:

⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures

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