Forecast Of The Day: Number of U.S. Best Buy Stores
What?
Trefis expects the number of Best Buy (NYSE:BB) stores in the U.S. to gradually decline from 1009 in 2020 to about 990 in 2021 and 985 in 2022.
Why?
- With Q2 Earnings Around The Corner, Will Best Buy Stock Live Up To Its Name?
- Down 7% This Year, Will Best Buy Stock Recover Following Q1 Results?
- Flat Since The Beginning of 2023, What’s Next For Best Buy’s Stock Post Q4 Results?
- Down 15% This Year, Where Is Best Buy Stock Headed Post Q3?
- What To Expect From Best Buy’s Stock Post Q2?
- What’s Happening With Best Buy’s Stock?
The decline is likely to be driven by an increasing pivot towards online sales, which have lower overhead costs, labor costs, and inventory costs.
So What?
We expect Best Buy’s revenues to grow modestly this year, despite the continuing decline in stores. That said, we think the stock is fully valued at current levels of around $118 per share.
See Our Complete Analysis For BestBuy
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