Jim Cramer Is Keeping an Eye on Best Buy Q2 Results Next Week
TheStreet's Jim Cramer is watching Best Buy (BBY) next week. The tech retailer is scheduled to release its latest quarterly results Tuesday. Cramer calls Best Buy the key to understanding what might be good for the back-to-school season and also for the holidays. For the second quarter, Wall Street analysts are expecting the company to post earnings of $0.34 a share, down from $0.44 in the year ago period. Revenue is expected to come in at $8.29 billion, that would be a 7 percent drop from last year. Cramer points to some research from a small boutique firm that says Best Buy numbers may be a little better than expected. Best Buy has a history of topping consensus estimates -- beating Wall Street forecasts in each of the past 10 quarters. Investors on the earnings call will pay close attention to same-store sales. They'll also look for the outlook on the second half of the year. Another thing investors will be looking out for: sales of the Apple Watch. On August 7, Best Buy began selling the Apple Watch online and in its physical stores across the U.S., making it the first major retailer to sell the watch. Best Buy plans to sell the wearable tech gadget in 300 of its brick-and-mortar stores in the U.S. by the end of the year.
