The dominant position in the consumer electronic business enables Best Buy (BBY) to sustain growth in its topline, expand its store base and boost its market share through acquisitions.
The stores tailor their store merchandising, staffing, marketing and presentation to meet the distinct needs of targeted customers. The company’s wide array of assortments, store formats and brand marketing strategies provides an edge over competitors.
These helped Best Buy to post better-than-expected third-quarter 2010 results. The quarterly earnings of $0.53 per share surpassed the Zacks Consensus Estimate of $0.43 and surged 51.4% year-over-year. We recommend BBY shares as Outperform with a 6-month target price of $45.00 per share.Zacks Investment Research
