We don't have an opinion or more importantly a vote one way or another. We're not thrilled with it ... but it's essentially up to the analysts.
More Quotes from Ken Perkins:
This is setting a foundation for earnings to rebound. There might be some positive news in the second quarter.Ken Perkins
One obvious explanation (for the weakness) is that investors are aware that Best Buy faces much tougher sales comparisons, particularly in the second half of the year. Looking at the numbers, second-quarter sales were up 7.8 percent, third-quarter sales rose 5.8 percent.
Ken Perkins
There wasn't a lot of color offered in press releases this morning on this great performance, but given the number of retailers that indicated strong gift card sales over the holidays, it looks like there were some pretty strong gift card redemptions taking place in January. Warm weather appears to have helped drive traffic as well and it helped retailers sell spring merchandise at full price.
Ken Perkins
Next month is the first time the company marks the anniversary of positive sales comparisons. From here on, the comparisons get increasingly difficult.
Ken Perkins
Profits are on the rebound but is it sustainable Given the extent of the previous bubble in tech, the recovery should be slower. There's a whiff of a pickup in business spending but not enough to hang your hat on just yet.
Ken Perkins
They're going to have to watch the bottom line and the margins very closely, ... This holiday season, retailers are going to be fighting for customers and fewer discretionary dollars.
Ken Perkins
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