Best Buy Moves Higher After Buyout Talk and 4 Retail Hot Stocks Seeing Action
Walgreen (NYSE:WAG) reports that its comparable store sales saw a drop of 11.1 percent year over year as its pharmacy sales continue to drag and generic introductions impacting. Additionally, the company blames the reduced rate of flu shots this season on slowing sales.
Best Buy (NYSE:BBY) shares rise following suggestions that founder Richard Schulze will continue with the buyout bid with private equity interests closer to being on board. ValueWalk stated that it will be the P-E firms Schulze, which drives negotiations, and Best Buy may also take a deal as its options are running out.
J.C. Penney (NYSE:JCP):On February 1st will be when the company is transformed, stated CEO Ron Johnson. The executive claims that big sales gains and profits will begin druing Q1 with the conclusion of the “adjustment period.” Johnson added, “We look at JCP as a start-up.”
Target (NYSE:TGT) intends to raise the use of QR codes in its stores allowing shoppers to scan codes to purchase items with free shipping included. The company intends to focus on impulse holiday season buys by parents who have their kids with them. Also, the company is advertising and selling its products in innovative technology centered manners by encouraging consumers to use their smartphones in stores.
bebe Stores (NASDAQ:BEBE) announces the hiring of a search firm to help with finding a new CEO. This comes during turmoil following the company’s statement that same-store sales saw a drop of 9.4 percent during September.
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