Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Capital Markets

<ul><li>Best Buy delivered a mixed set of results for the previous quarter, with revenues well below analyst expectations but managed an earnings beat.</li><li>Despite cautious consumer behavior due to inflation and low confidence, Best Buy maintained consistent purchasing patterns and demographics.</li><li>Customer satisfaction scores improved for in-home services, delivery, and remote support, highlighting the company's focus on customer support.</li></ul>

Best Buy delivered a mixed set of results for the previous quarter, with revenues well below analyst expectations but managed an earnings beat.Despite cautious consumer behavior due to inflation and low confidence, Best Buy maintained consistent purchasing patterns and demographics.Customer satisfaction scores improved for in-home services, delivery, and remote support, highlighting the company's focus on customer support.

Best Buy Co: Investing in Omnichannel Capabilities to Stay Ahead of the Competition – Key Drivers

<ul><li>Best Buy managed to deliver an all-around beat in the last quarter in a relatively challenging operating environment.</li><li>Moreover, customer demand for virtual interactions has stayed elevated and sustained strong sales growth from video sales, phone, and chat.</li><li>Throughout the quarter, the company has been advancing its strategic initiatives and investing in areas vital for its long-term growth.</li></ul>

Best Buy managed to deliver an all-around beat in the last quarter in a relatively challenging operating environment.Moreover, customer demand for virtual interactions has stayed elevated and sustained strong sales growth from video sales, phone, and chat.Throughout the quarter, the company has been advancing its strategic initiatives and investing in areas vital for its long-term growth.

Best Buy Inc: New Upgrade+ Program & Other Developments

<ul><li>Best Buy delivered a decent result this quarter surpassing Wall Street expectations on all counts.</li><li>Best Buy is also viewing more interest in the sales events such as tax-free events, prime day, and other events that are geared at an exceptional value.</li><li>Best Buy also opened new outlet stores, finished store remodels, and started to implement newly signed deals with healthcare companies.</li></ul>

Best Buy delivered a decent result this quarter surpassing Wall Street expectations on all counts.Best Buy is also viewing more interest in the sales events such as tax-free events, prime day, and other events that are geared at an exceptional value.Best Buy also opened new outlet stores, finished store remodels, and started to implement newly signed deals with healthcare companies.

Best Buy Inc: New Small Format Digital-First Store & Other Drivers

<ul><li>Best Buy managed to deliver a strong result with revenues exceeding Wall Street expectations while navigating an uncertain macro environment.</li><li>The company has grown its Totaltech membership, launched new product categories, increased momentum in its health business, and significantly increased its average online sales delivery speed.</li><li>The company has been leveraging its omnichannel strength for serving and supporting its customers since their expectations and shopping behavior evolved significantly.</li></ul>

Best Buy managed to deliver a strong result with revenues exceeding Wall Street expectations while navigating an uncertain macro environment.The company has grown its Totaltech membership, launched new product categories, increased momentum in its health business, and significantly increased its average online sales delivery speed.The company has been leveraging its omnichannel strength for serving and supporting its customers since their expectations and shopping behavior evolved significantly.

Best Buy Co Inc.: Technical Support Related Upside & Other Drivers

<ul><li>Best Buy performed reasonably well in 2021 and its growth was driven by its investments in the supply chain, store operations, people, and technology over the last few years.</li><li>The first half of 2022 should be challenging for Best Buy given the inflationary headwinds and the supply chain challenges.</li><li>The high growth in government stimulus, and the investment in their new membership program should drive long-term value for Best Buy.</li></ul>

Best Buy performed reasonably well in 2021 and its growth was driven by its investments in the supply chain, store operations, people, and technology over the last few years.The first half of 2022 should be challenging for Best Buy given the inflationary headwinds and the supply chain challenges.The high growth in government stimulus, and the investment in their new membership program should drive long-term value for Best Buy.

Best Buy Co Inc.: Financial & Price Forecasts

United States

Dick's Sporting Goods, Inc. operates as a sporting goods retailer that manages stores primarily in the eastern and central United States. The Company owns stores that offers a broad selection of brand name sporting goods equipment, apparel, and footwear.

Burlington Stores, Inc. owns and operates clothing retail stores. The Company offers, through its stores and internet sites, men's, women's, and children's apparel. Burlington Holding operates within the United States and Puerto Rico.

Tractor Supply Company operates a retail farm store chain in the United States. The Company provides farm maintenance products, animal products, general maintenance products, lawn and garden products, light truck equipment, work clothing, and other products.  Customers include hobby, part-time, and full-time farmers and ranchers, as well as rural customers, contractors, and tradesman.

Abercrombie & Fitch Co.  a specialty retailer that operates stores and direct-to-consumer operations. Through these channels, the Company sells: casual sportswear apparel, including knit and woven shirts, graphic t-shirts, fleece, jeans and woven pants, shorts, sweaters, and outerwear; personal care products; and accessories for men, women and kids.

Murphy USA Inc. produces and distributes petroleum products. The Company engages in refining, marketing, and transportation of oil and gas products. Murphy USA provides products and services worldwide.

The Gap, Inc., is an international specialty retailer operating retail and outlet stores.  The Company sells casual apparel, accessories and personal care products for men, women, and children. The Gap operates stores in the United States, Canada, the United Kingdom, France, Ireland, and Japan.

Ulta Beauty, Inc. operates a chain of beauty stores. The Company offers cosmetics, fragrance, skin, and hair care products, as well as salon services. Ulta Beauty serves customers throughout the United States.

Lithia Motors, Inc. retails, finances, and services new and used vehicles. The Company also provides other related services and products, such as the sale of parts and accessories, extended service contracts, aftermarket automotive products, and collision repair services. Lithia Motors operates throughout the United States.

Williams-Sonoma, Inc. retails cooking and serving equipment, home furnishings, and home accessories through retail stores, mail order catalogs and e-commerce. The Company offers its merchandise under the Williams-Sonoma, Pottery Barn, Pottery Barn Kids, Pottery Barn Teen, and West Elm.

GameStop Corporation operates specialty electronic game and PC entertainment software stores throughout the United States, Australia, Canada and Europe. The Company stores sell new and used video game hardware, video game software and accessories, as well as PC entertainment software, and related accessories and other merchandise.

Chow Tai Fook Jewellery Group Limited retails jewelry.  The Company sells rings, necklaces, earrings, pendants, bracelets, and small statues.  Chow Tai Fook Jewellery operates retail stores in China, Hong Kong, Macau, Taiwan, Malaysia, and Singapore.

HIKARI TSUSHIN, INC. is a mobile telecommunication service subscription agency. The Company also operates telecommunication services stores, HIT SHOP, which sell cellular telephones, and related goods.  Hikari Tsushin also sells office automation equipment and insurance.

Hotai Motor Company Ltd. operates as an automobile dealership. The Company sells and services new and used cars and trucks in Taiwan.

Nitori Holdings Co., Ltd., is based in Hokkaido and operates a furniture retail chain.  The Company sells living room furniture, storage furniture, dining furniture, office furniture, beds, and interior goods.  Nitori Holdings also sells original brand merchandise and imported merchandise.

JD Sports Fashion PLC operates a chain of retail stores which sell brand-name sports and leisure wear. The Company sells sports and leisure footwear, clothing, and accessories, among other items. JD Sports Fashion serves customers in the United Kingdom.

Hennes & Mauritz AB (H&M) designs and retails fashions for women, men, teens, and children.  The Company sells a variety trendy, sporty, and classic garments in addition to accessories such as jewelery, bags, and scarves, and cosmetics. H&M owns and operates stores in many European countries and the United States.

JB Hi-Fi Limited is a music and electronic goods retailer in Australia.  The Company operates stores at sites located in most Australian States.  Products include consumer electronics, car sound systems, music and DVDs.

ABC-MART, INC. plans, develops, wholesales, and retails shoes.  The Company also plans and develops brand name shoes such as VANS and G.T. HAWKINS.  ABC-Mart imports and wholesales shoes, apparel, bags, and sundries as well.

L'Occitane International S.A. is a global, natural and organic ingredient based cosmetics and well-being products enterprise.  The Company designs, manufactures and markets a wide range of cosmetics and well-being products based on natural and organic ingredients sourced principally from or near Provence.

Zhongsheng Group Holdings Ltd. retails automobiles.  The Company imports and retails primarily luxury and mid- to high-end automobile brands.

Best Buy Co., Inc. retails consumer electronics, home office products, entertainment software, appliances and related services through its retail stores, as well as its web site.  The Company also retails pre-recorded home entertainment products through retail stores.

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Best Buy Co Inc (BBY US)

Best Buy Co: Investing in Omnichannel Capabilities to Stay Ahead of the Competition – Key Drivers

Best Buy delivered a mixed set of results for the previous quarter, with revenues well below analyst expectations but managed an earnings...

Baptista Research

Best Buy Inc: New Upgrade+ Program & Other Developments

Best Buy managed to deliver an all-around beat in the last quarter in a relatively challenging operating environment. Moreover, customer demand...

Baptista Research

Best Buy Inc: New Small Format Digital-First Store & Other Drivers

Best Buy delivered a decent result this quarter surpassing Wall Street expectations on all counts. Best Buy is also viewing more interest in the...

Baptista Research

Best Buy Co Inc.: Financial & Price Forecasts

Best Buy performed reasonably well in 2021 and its growth was driven by its investments in the supply chain, store operations, people, and...

Baptista Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Best Buy Co: Investing in Omnichannel Capabilities to Stay Ahead of the Competition – Key Drivers

Best Buy delivered a mixed set of results for the previous quarter, with revenues well below analyst expectations but managed an earnings...

Baptista Research

Best Buy Inc: New Upgrade+ Program & Other Developments

Best Buy managed to deliver an all-around beat in the last quarter in a relatively challenging operating environment. Moreover, customer demand...

Baptista Research

Best Buy Inc: New Small Format Digital-First Store & Other Drivers

Best Buy delivered a decent result this quarter surpassing Wall Street expectations on all counts. Best Buy is also viewing more interest in the...

Baptista Research

Best Buy Co Inc.: Technical Support Related Upside & Other Drivers

Best Buy managed to deliver a strong result with revenues exceeding Wall Street expectations while navigating an uncertain macro environment. The...

Baptista Research

Best Buy Co Inc.: Financial & Price Forecasts

Best Buy performed reasonably well in 2021 and its growth was driven by its investments in the supply chain, store operations, people, and...

Baptista Research