Best Buy Co., Inc. (BBY) saw robust sales in December. Revenue of $8.5 billion was up 13% year-over-year. The gain can in part be attributed to a jump of 8.2% in comparable store sales.

Company Description

Best Buy Co., Inc. is a multinational retailer of technology and entertainment products and services. The Best Buy family of brands and partnerships collectively generates more than $45 billion in annual revenue.

Solid Sales Growth

The company saw robust sales in December. Revenue of $8.5 billion was up 13% year-over-year. The gain can in part be attributed to a jump of 8.2% in comparable store sales.

Best Buy’s domestic business brought in $6.7 billion in revenue in December, an increase of 13%. Domestic comparable store sales jumped 9.3%.

Rewarding Shareholders

The company declared a regular quarterly dividend of 14 cents per share. The dividend is payable on January 26 to shareholders of record as of the close of business on January 5.

Best Buy offers an industry-leading dividend yield of 1.44%.

Strong Quarter

The company posted third-quarter earnings of 53 cents per share, surpassing the previous year’s 35 cents and topping the Zacks Consensus Estimate by 23%. Earnings have come in above the Zacks Consensus Estimate by an average of 12% over the past 4 straight quarter.

Favorable Comparisons

Best Buy’s return on equity (ROE) of 22.5% beats the industry average of 11%. The company’s net profit margin of 2.3%, compares to an industry average of 1.9%.

Zacks Investment Research

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