Best Buy: 237% gain for 2013
Best Buy (BBY) was easily one of the best turnaround stories of 2013. The company was largely left for dead thanks to intense competition from online retailers, but it has fought back to become an important player in the electronics retail market.
The firm has also managed to reinflate earnings, and thoroughly crushed expectations at the two previous earnings reports. In the most recent report, BBY delivered a surprise of 63% while two quarters ago it was expected to see earnings of 12 cents a share but produced an impressive 32 cents a share instead, leading to a huge surge in the share price of BBY.
Thanks to this new-found optimism, many investors became quite bullish on BBY and now believe that Best Buy may have found a way to compete with online behemoths. If this is the case, 2014 could be another great year for this resurgent company, though intense competition will be a force to be reckoned with this year.
Best Buy has a Zacks Rank #3 (Hold), but it currently has an industry Rank just outsized the top third.