Best Buy (BBY.N) - Fundamental Investment Case

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.

Best Buy is one of the largest consumer electronics outlets in the US and beyond. The multinational retailer sells both products and services through roughly 1,200 retail, mobile stand-alone, and smaller express stores under the Best Buy, Best Buy Express, Best Buy Mobile, Five Star, Future Shop, Geek Squad, Magnolia Audio Video, and Pacific Kitchen and Home Sales banners. Its stores sell a variety of electronic gadgets and wearables, tablets, movies, music, computers, mobile phones, and appliances. On the services side, it offers installation and maintenance, technical support, and subscriptions for mobile phone and Internet services.

Vision does not believe the thesis hinges on the 5/23/19 earnings release but expects the thesis to play out over the coming 12 to 18 months.  

Please download the full report for details on the Bear Case outlined below.

Bottom Line: Brick and mortar retailer facing difficult comparisons and increased competition in their most important product category

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