Best Buy (NYSE:BBY) Testing A New Turnaround Strategy- BBY, SIRI, HRB, NWSA, CMCSA
Best Buy Co., Inc. (NYSE:BBY) reported that it is testing a new strategy to convert its cavernous electronics emporiums to make them more like Apple Inc. (NASDAQ:AAPL)’s sleek retail outlets.
The heart of the test store close to Best Buy’s headquarters includes a Solution Central help desk, edged with chairs and manned by the firm’s black-tied Geek Squad. It resembles the Genius Bar at Apple’s stores.
Best Buy’s prototype will let customers pay for products in several locations, rather than forcing them into checkout lines at the front of the store.
Best Buy Co., Inc. (NYSE:BBY) is associated with the S&P 500 and has 167,000 employees. The net profit margin was 0.65%. BBY’s return on equity was recorded as -20.66% and increased a 4.28% return on investment while its return on assets stayed at 1.92%.
The stock in the last session held volume of 6.49 million shares as compared to its average volume of 10.55 million shares. The stock after opening at $22.07 hit a high price of $22.14 and then closed at $21.75 by scoring -2.03%.
The company had a current ratio of 1.15 and the debt to equity ratio was 0.55 and long-term debt to equity ratio also remained at 0.46. BBY stock institutional ownership remained at 79.66% while insider ownership included 1.04%.
In a quick look at other sector results, Sirius XM Radio Inc (NASDAQ:SIRI) net profit margin was 14.75%, H&R Block, Inc. (NYSE:HRB) has 11.96%, News Corp (NASDAQ:NWSA) has 11.06% and Comcast Corporation (NASDAQ:CMCSA) has a 9.50% net profit margin.