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MarketScreener Homepage  >  Equities  >  Nyse  >  Best Buy Company    BBY

BEST BUY COMPANY

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Retail Stocks Rally as Tariffs Are Delayed

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08/13/2019 | 12:56pm EDT

By Jessica Menton

Christmas came early for retailers.

Shares of department stores, discount chains and even toy makers rallied Tuesday after the U.S. said it would delay some tariffs against China until Dec. 15 on items including toys, cellphones, laptop computers and other items that had been set to take effect Sept. 1.

Following the announcement, electronics seller Best Buy Co., department store Kohl's Corp. and discount chain Dollar Tree Inc. each rallied at least 5.1% apiece. The news of the tariff delay also spread to other retail stocks, with shares of two of the world's biggest toy makers by sales, Mattel Inc. and Hasbro Inc., jumping 3.3% and 3.4%, respectively.

The tariff delay comes as welcome news for retailers, which have been caught in the crosshairs of the U.S.-China trade spat. Retail stocks have been punished over the past year as companies have tried to grapple with increased tariffs on goods from China. And declining foot traffic has also continued to weigh on retailers as shoppers continue to shift to online e-commerce giants such as Amazon.com Inc.

The SPDR S&P Retail exchange-traded fund, which includes companies such as L Brands Inc., Best Buy and Guess Inc., has slumped 20% over the past 12 months, compared with the S&P 500's 3.9% rise in that span. The ETF climbed 2.4% Tuesday, on pace for its best one-day percentage gain since June 4.

Still, some analysts and investors anticipate that the recent relief rally for retailers may prove to be short-lived.

"In the short run, volatility will likely continue for retailers just because a lot of trade uncertainty still exists," said Eric Marshall, portfolio manager at Hodges Capital Management, which has $1.5 billion in assets under management. "The fear of the unknown is often times worse than the eventual reality, and companies are still unsure of how the tariffs could impact the supply chain for consumer goods."

Write to Jessica Menton at Jessica.Menton@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
BEST BUY COMPANY 2.42% 65.48 Delayed Quote.20.71%
DJ INDUSTRIAL 1.20% 25886.01 Delayed Quote.10.97%
DOLLAR TREE INC. 0.61% 93.71 Delayed Quote.3.75%
HASBRO, INC 1.09% 114.37 Delayed Quote.39.25%
KOHL'S CORPORATION 2.80% 45.51 Delayed Quote.-33.27%
L BRANDS 3.40% 20.36 Delayed Quote.-20.69%
MATTEL -0.09% 10.73 Delayed Quote.7.51%
NASDAQ 100 1.59% 7604.108768 Delayed Quote.20.13%
NASDAQ COMP. 1.67% 7895.993811 Delayed Quote.19.00%
S&P 500 1.44% 2888.68 Delayed Quote.13.59%
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Financials (USD)
Sales 2020 43 589 M
EBIT 2020 2 023 M
Net income 2020 1 503 M
Finance 2020 899 M
Yield 2020 3,15%
P/E ratio 2020 11,5x
P/E ratio 2021 11,0x
EV / Sales2020 0,38x
EV / Sales2021 0,40x
Capitalization 17 486 M
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Technical analysis trends BEST BUY COMPANY
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 29
Average target price 75,65  $
Last Close Price 65,48  $
Spread / Highest target 37,4%
Spread / Average Target 15,5%
Spread / Lowest Target -11,4%
EPS Revisions
Managers
NameTitle
Hubert Joly Chairman, President & Chief Executive Officer
Corie Sue Barry Chief Financial Officer
Brian Tilzer Chief Digital & Technology Officer
Kathleen J. Higgins Victor Independent Director
Lisa Maria Caputo Morris Independent Director
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