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MarketWatch MarketPulseMay 23, 2019
Best Buy shares rise after earnings beat consensus
Best Buy Co Inc. shares rose 2.4% in Thursday premarket trading after the consumer electronics retailer reported first-quarter earnings that beat expectations. Net income was $265 million, or 98 cents per share, up from $208 million, or 72 cents per share, last year. Adjusted EPS was $1.02. Revenue totaled $9.14 billion, up from $9.12 billion in 2018. The FactSet consensus was for EPS of 87 cents and sales of $9.14 billion. Same-store sales rose 1.1%, ahead of the 1.0% FactSet estimate. For the second quarter, Best Buy is guiding for revenue of $9.5 billion to $9.6 billion, same-store sales growth of 1.5% to 2.5%, and adjusted EPS of 95 cents to $1. The FactSet consensus is for $9.5 billion, a same-store sales increase of 1.6% and EPS of 97 cents. For the year, Best Buy expects sales of $42.9 billion to $43.9 billion, same-store sales growth of 0.5% to 2.5%, and adjusted EPS of $5.45 to $5.65. FactSet forecasts sales of $43.56 billion, same-store sales growth of 1.9% and EPS of $5.64. Best Buy stock has climbed 30.6% in 2019, outpacing the S&P 500 index , which is up 14% for the period.

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MarketWatch MarketPulseMay 23, 2019
BJ's Wholesale profit and same-store sales rise above expectations
BJ's Wholesale Club Holdings Inc. reported Thursday fiscal first-quarter earnings and same-store sales that rose above expectations, and affirmed its full-year outlook. The membership-bases warehouse retailer's stock was still inactive in premarket trade. Net income for the quarter to May 4 rose to $35.8 million, or 25 cents a share, from $14.1 million, or 15 cents a share, in the same period a year ago. Excluding non-recurring items, adjusted earnings per share increased to 26 cents from 20 cents, and topped the FactSet consensus of 25 cents. Total revenue rose 2.7% to $3.14 billion, in line with the FactSet consensus of $3.12 billion, as net sales grew 2.5% to $3.07 billion and membership fee revenue rose 8.0% to $73.4 million. The company affirmed its fiscal 2019 guidance ranges for EPS of $1.42 to $1.50 and for net sales of $12.9 billion to $13.2 billion. The FactSet consensus for EPS is $1.47 and for net sales is $13.05 billion. The stock has rallied 14.7% year to date, while the SPDR S&P Retail ETF has gained 3.1% and the S&P 500 has advanced 13.9%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit for more information on this news.

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