Best Buy Co Inc
BBY: XNYS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$86.00 | Tpnmb | Yhkhdjz |
Despite Cautious Customer Behavior, We View Best Buy's Membership Upgrade Strategically Cogent
Business Strategy and Outlook
We believe Best Buy is taking adequate steps to shore up its competitive position in an intensely competitive consumer electronics space. As the preeminent offline consumer electronics retailer in the U.S., the firm has invested heavily in seamless omnichannel access, building relationships with its 40 million active loyalty members (unpaid and TotalTech, which are set to be transformed into a three-tiered program effective June 2023), and cutting out nonessential costs.