With hesitation, adding BBY to my watch list. When it was bid up this morning, I thought that was not the right reaction given the forward look, and the market did adjust for that.
It appears that the Sam's and Costcos are squeezing margins and/or causing lost market share, especially in TVs.
Anecdotally, I went in to a local BBY and tried to dicker on price, as I would be making a major purchase for an individual retail buyer - a high end kitchen suite, high end W/D, and two flat screens. They wouldn't budge at all, and I didn't feel like going the price match route. So, I bought the appliances from local retailers at substantially lower prices, and will by the TVs most likely at the local Costco.
Might be interesting sub 30, but seems like a busted growth story. |
