How 4 Big E-Commerce Stocks Stack Up Now

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How 4 Big E-Commerce Stocks Stack Up Now

Best Buy

BestBuyLogo e1297955683480 150x150 How 4 Big E Commerce Stocks Stack Up NowWhile Amazon rolled, Best Buy (BBY) shares tumbled 30% (or $4 billion in market value) after the world’s largest consumer electronics announced dismal first- quarter fiscal 2014 earnings.

While U.S. online sales rose 24% to $1.32 billion during the holidays, they weren’t enough to counter other declines. In the nine weeks to Jan. 4, Best Buy reported sales of $11.45 billion which was down 2.5% compared to a year earlier. After a year of improvements, domestic sales fell by 1.5% to $9.75 billion, due to a 0.9% decrease in comparable store sales.

International revenues also fell 8.1% to $1.70 billion due largely to 35 store closures in China and Canada. Best Buy also blames the lowering of prices by competitors as the main driver of the fall-off in revenue as well as the shortage of some high-end phones.


Article printed from InvestorPlace Media, http://investorplace.com/2014/01/e-commerce-stocks-amzn-bby-ebay-ups/.

©2014 InvestorPlace Media, LLC

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