Forecast Of The Day: Number of U.S. Best Buy Stores

by Trefis Team
+20.60%
Upside
106
Market
128
Trefis
BBY
Best Buy
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What?

Trefis expects the number of Best Buy (NYSE:BB) stores in the U.S. to gradually decline from 1009 in 2020 to about 990 in 2021 and 985 in 2022.

Why?

The decline is likely to be driven by an increasing pivot towards online sales, which have lower overhead costs, labor costs, and inventory costs.

So What?

We expect Best Buy’s revenues to grow modestly this year, despite the continuing decline in stores. That said, we think the stock is fully valued at current levels of around $118 per share.

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