The bears, meanwhile, are still not ready to stamp the grim reaper's passport and kindly send him on his way. With the behemoth known as Amazon.com (AMZN) not going anywhere and seemingly doing no wrong, the shorts continue to show incredible patience and are biding their time. But Best Buy's not making it easy.
Although the company is still struggling with margins and same-store sales, the level of erosion is improving, which is to say there are clearer signs of progress. The fact that revenue declined again this quarter is a popular point being raised by the skeptics. But in all honesty, the fact that revenue declined by less than 1% has to be viewed as a "win" (of sorts) to anyone who can be objective.
Along similar lines, I'm willing to applaud the fact that "comps," or same-store sales, also declined by less than 1%. This is the metric that tracks the performance of stores that have been opened at least one year. You have every right to be unimpressed by this. But just to keep things in perspective, Wal-Mart (WMT), the world's largest retailer, didn't grow comps at all in its recent quarter.
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