Best Buy (BBY $23.88 -1.08) reported second quarter earnings of $0.47
per share, $0.05 worse than the Capital IQ Consensus Estimate of $0.52.
Revenues rose 0.1% year/year to $11.35 billion versus the $11.46 billion
consensus.
For fiscal year 2012, the company is expecting to see earnings in the range of
$3.35 to $3.65, which may not be comparable to $3.45 Capital IQ Consensus
Estimate.
Separately, the company reported share repurchases of $358 million (12.7 million
shares) in the fiscal second quarter; $863 million (29.2 million shares) in the
first half of the fiscal year, thus the company includes the estimated impact
from fiscal 2012 share repurchases (expected to benefit annual EPS by $0.20 to
$0.25).
Additionally, the company expects fiscal year 2012 revenues to be $51 billion to
$52.25 billion versus the $52.04 billion Capital IQ Consensus Estimate. The
company reported second quarter Domestic segment mobile computing (including
tablets) comparable store sales growth of 9%. Lastly, the company states
Operating income decline of 30%, driven by a decline in gross profit dollars and
increased SG&A.






