Tag Archives: amzn

Best Buy now an ‘online first’ retailer, CEO says

After years of being a de facto showroom for Amazon.com (AMZN), consumer electronics chain Best Buy (BBY) now considers itself to be an “online first” retailer. Best Buy CEO Hubert Joly made that pronouncement during a conference call with analysts early Thursday to discuss fiscal fourth-quarter results. Here’s IBD’s report. “The front door of our shopping experience is online,” Joly said. “Customers start their shopping experience online. That’s why our strategic investments in the online shopping experience (are) fundamental.” Best Buy still says its brick-and-mortar stores are an important competitive advantage, but the company has clearly intensified its focus on the online sales channel. “Throughout the company, it’s online first,” Joly said. Online sales were a bright spot during the holiday sales quarter, Joly said. U.S. online sales rose 25.8% to $1.57 billion in Q4. Online accounted for 12.7% of the company’s total sales, up from 10% a year

Apple, Tesla Seen Lagging In Institutional Ownership

Institutional investors have jumped off the Apple (AAPL) bandwagon and have yet to climb aboard Tesla Motors’ (TSLA), while Amazon.com (AMZN), Google (GOOG) and Microsoft (MSFT) are doing better, says Morgan Stanley in a report on technology stocks. “Apple and Tesla are exceptions to the rule of growing institutional ownership,” Katy Huberty, a Morgan Stanley analyst, wrote in the report. “Currently in the S&P 500, the average institutional

Amazon set-top box could mark start of Netflix offensive

Amazon.com’s long-rumored television set-top box could launch in March, Re/code reported Friday, a move that could signal an offensive against streaming video rival Netflix. Amazon’s device would compete with products on the market from Apple (AAPL), Google (GOOG) and Roku, which stream Netflix (NFLX) and other over-the-top Internet video services. But the Amazon box would put its own content, namely Amazon (AMZN) Prime Instant Video, front and center. To date, Amazon has treated its video service as a nice extra for its Amazon Prime subscription service, which offers free two-day shipping on millions of items from the e-commerce website for $79 a year. Amazon Prime customers get unlimited streaming of thousands of movies and TV shows. Amazon currently does not offer the streaming video service on a standalone basis. But with a set-top box on the way and talk of a price increase for Amazon Prime, that could change…