Fitbit Inc. (NYSE: FIT) is scheduled to report fourth-quarter results after markets close on Monday, but even a positive outcome may be clouded by recent reports that the company’s heart rate monitoring technology was inaccurate. Best Buy Co. Inc (NYSE: BBY) may be looking to get out in front of the earnings report by offering promotional pricing on the company’s fitness trackers for the week of February 22 through 27.
An analyst at Pacific Crest Securities believes that Fitbit had a good fourth quarter but that sales have stalled in the first quarter. Best Buy’s promotion could help, but Fitbit faces tough competition from Apple and, to a lesser degree, Garmin and others.
Best Buy is featuring a Fitbit Charge in a variety of colors, including the large-size slate band (FB404SLL), for $99.99, a savings of $30 off the regular price of $129.99.
A Fitbit Flex activity and sleep tracker with a slate blue band (FB401SL) is selling for $79.99, a savings of $20 from the regular price of $99.99. Six other colors are also available.
24/7 Wall St.Garmin is also getting in on some promotional pricing from Best Buy for its vivofit fitness band.
Shipping is free and Best Buy is also offering its price match guarantee on the wearable devices. With a black (010-01225-00) or purple (010-01225-02) band the tracker is being offered at $49.99, a savings of $30 from the regular price. The vivofit is also eligible for free shipping and the price match guarantee.
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