How Will Best Buy’s International Division Perform In The Near Term?
Best Buy‘s (NYSE:BBY) international division primarily includes its operations in Canada and Mexico. The company’s international revenue has been decreasing from $7.9 billion in 2011 to $3.2 billion in 2015. Best Buy witnessed a significant decline in the sales of mobile phones and tablets in 2015, specifically in its international segment. The weak demand for smartphones is depressing this category in Canada. The Canadian market witnessed a surge in sales of mobile devices over the past decade, but it has since slowed down as the market is maturing. The company has also shut down some stores in Canada in 2015, and the company’s international revenue per store has declined.
Going forward, we expect the company’s international revenue to decline as a result of the negative impact of foreign currency exchange rate fluctuations, and weak smartphone demand in the Canadian market.
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