Financial Results, Gaming Event, Conference Calls, and Distribution Agreements - Research Report on Best Buy, GameStop, Avnet, Conn's, and Arrow

Mon Aug 26, 2013 8:01am EDT

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Financial Results, Gaming Event, Conference Calls, and Distribution Agreements - Research Report on Best Buy, GameStop, Avnet, Conn's, and Arrow

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PR Newswire

NEW YORK, August 26, 2013 /PRNewswire/ --

Today, Analysts' Corner announced new research reports highlighting Best Buy Co., Inc. (NYSE: BBY), GameStop Corp. (NYSE: GME), Avnet, Inc. (NYSE: AVT), Conn's, Inc. (NASDAQ: CONN), and Arrow Electronics, Inc. (NYSE: ARW). Today's readers may access these reports free of charge - including full price targets, industry analysis and analyst ratings - via the links below.

Best Buy Co., Inc.  Research Report  

On August 20, 2013, Best Buy Co., Inc. (Best Buy) reported its Q2 FY 2014 (period ended August 3, 2013) financial results. The Company generated total revenues of $9.3 billion, down 0.4% YoY during the quarter. According to the Company, GAAP earnings from continuing operations were $0.69 per diluted share in Q2 FY 2014, compared with $0.09 per diluted share in Q2 FY 2013. Meanwhile, non-GAAP earnings from continuing operations were $0.32 per diluted share Q2 FY 2014, compared with $0.26 per diluted share in Q2 FY 2013. Hubert Joly, President and CEO of Best Buy, said "During the second quarter, we continued to make substantial progress on our Renew Blue priorities. This progress included (1) driving a more than 10% increase in Domestic comparable online sales; (2) improving our Net Promoter Score; (3) enriching our retail customer experience through the rollout of our Samsung Experience Shops and Windows Stores; (4) piloting our 'buy online - ship  from store' initiative in 50 stores; and (5) eliminating an additional $65 million in annualized costs - bringing our 'nine-month' total of annualized cost reductions to $390 million toward our target of $725 million." The Full Research Report on Best Buy Co., Inc. - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.analystscorner.com/r/full_research_report/ffa8_BBY]

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GameStop Corp. Research Report

On August 15, 2013, GameStop Corp. (GameStop) announced an event for gaming fans, the GameStop EXPO, which will be held at the Sands Convention Center in Las Vegas, NV on August 28, 2013. The Company informed that the GameStop EXPO aims to offer the public and PowerUp Rewards™ members  an experience to meet special guests during the event, including Paul George of Indiana Pacers; McFarlane Toys Founder and Legendary Spawn artist, Todd McFarlane; game concept artist, Jesse van Dijk; voice artist, Nolan North; and Matt Kenseth, driver of the No. 18 GameStop Toyota. According to the Company, attendees of the upcoming event will also get the chance to get autographs and play games months before their actual release. The Full Research Report on GameStop Corp. - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.analystscorner.com/r/full_research_report/d8d8_GME]

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Avnet, Inc. Research Report  

On August 7, 2013, Avnet, Inc. (Avnet) reported its Q4 FY 2013 and full-year FY 2013 (period ended June 29, 2013) financial results. The Company's sales increased 4.5% YoY to $6.6 billion, with organic revenue growth of 0.2% YoY, during the quarter. According to the Company, adjusted operating income in Q4 FY 2013 was down 4.8% YoY to $222.7 million, primarily due to a decline in gross profit margin in the EMEA region. Adjusted net income was $135.8 million, or $0.98 per diluted share, in Q4 FY 2013, compared with $145.3 million, or $0.99 per diluted share, in Q4 FY 2012. During full-year FY 2013, the Company generated sales of $25.5 billion, down 1% YoY, and adjusted operating income was down 19.0% YoY to $775.5 million. Full-year FY 2013 adjusted net income was $485.1 million, or $3.47 per diluted share, compared with $607.9 million, or $4.06 per diluted share, for full-year FY 2012. For Q1 FY 2014, Avnet expects consolidated sales of $6.1 billion to $6.7 billion, while adjusted diluted EPS is expected to be in the range of $0.83 to $0.93. The Full Research Report on Avnet, Inc. - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.analystscorner.com/r/full_research_report/5ed7_AVT]

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Conn's, Inc. Research Report

On August 21, 2013, Conn's, Inc. (Conn's) announced that it will host a conference call on September 5, 2013 at 10:00 a.m. CT / 11:00 a.m. ET, to discuss its Q2 FY 2014 financial results. The Company stated that it will also issue a press release on the same day regarding its financial results for Q2 FY 2014 before the market opens. The Full Research Report on Conn's, Inc. - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.analystscorner.com/r/full_research_report/3f20_CONN]

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Arrow Electronics, Inc. Research Report

On August 13, 2013, Arrow Electronics, Inc. (Arrow) announced that it has signed a distribution agreement with Sigasi, a VHDL (VHSIC hardware description language) integrated development environment (IDE) provider, to distribute the latter's hardware design entry tool 'Sigasi Pro' to customers in North America. David West, Vice President of Supplier Marketing for Arrow Electronics, said, "Sigasi expands Arrow's diverse software solutions offering. "The relationship with Sigasi helps Arrow offer our customers a full range of solutions for every stage of our customers' product lifecycle."  Further, Philippe Faes, CEO of Sigasi, said, "Together with the Arrow sales force and FAEs, we will be able to serve our mutual customers even better." The Full Research Report on Arrow Electronics, Inc. - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.analystscorner.com/r/full_research_report/3fc6_ARW]

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