Best Buy Promotes Laptops Following Thursday Beatdown

Retail

Published: January 15, 2016 11:55 am

Last Updated: January 13, 2020 2:58 pm

Thursday was not a good day for Best Buy Co. Inc. (NYSE: BBY). The consumer electronics retailer said that domestic sales revenues fell 0.8% in the holiday shopping season, with same-store sales down 1.4%. The company also noted that it anticipates a revenue decline of 4%, a decline in operating income and a one to three cent decline in year-over-year adjusted diluted earnings per share.

That does not mean that Best Buy is going to rein in its promotions. The company is promoting two laptops, on sale Friday and Saturday only. Both are from HP. The first is a 13.3-inch touch-screen model with an Intel core i7 processor, 8 GB of memory and a 256 GB solid state drive (13-4103dx) for $899.99, a savings of $250 from the original price of $1,149.99. Customers can save an additional $90 on the same model in an open-box deal. Expedited shipping is free too.

The other HP laptop on sale through Saturday is a 15.6-inch laptop with an Intel Core i5 processor, 4 GB of memory, and a 1 TB hard drive (15-ac151dx) for $349.99, a savings of $80 from the regular price of $429.99. Free expedited shipping is included. There is no open-box offer for this item.
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In Best Buy’s outlet store you can get the 13.3-inch laptop we’ve already described, except with a 512 GB solid state drive (13-4102dx) for $1,099.99. An open-box version of the laptop sells for $934.99.

Best Buy stock dropped nearly 10% on Thursday on very heavy volume. Shares are down another 0.8% just before noon on Friday to $26.22, after posting a new 52-week low earlier in the morning at $25.37. The 52-week high is $42.00.