Best Buy (BBY) – Reuters firms up speculation that following a sharp fall in Best Buy’s share price, founder Richard Schulze could make a lower bid for the retailer than what he originally suggested in August. The deal was originally valued at $8.16 – $8.84 billion, or up to $10.9 billion including debt. A bid for the company is now not expected before December.
Target (TGT), Best Buy (BBY) – Brad Wilson believes retailers are launching Black Friday deals earlier this year in order to create a lot of noise to confuse smartphone-enabled shoppers. He also notes that more brick-and-mortar retailers haven’t jumped in with online price matching programs like the ones from Target and Best Buy.
Amazon (AMZN) – U.S. e-commerce sales will rise 15% this holiday season and the average shopper is expected to spend 12% more online. Amazon, whose North American sales rose 33% in Q3, should again be a share-gainer. So might eBay, whose U.S. merchandise volume growth rose to 16% in Q3 thanks to strong mobile uptake.
Kellogg’s (K) – Heard at yesterday’s Kellogg’s Analyst Day presentation:
- Innovation will continue to be the growth driver for the North American business.
- Kellogg’s plans to tackle challenges presented by shoppers empowered with online and mobile tools
- Company is increasing investments in digital marketing as well as in the Hispanic market.
- 2013 Outlook: Internal sales growth of 2% – 3% and EPS of $3.18 – $3.30
Amazon (AMZN) – Consumers in a dozen states can buy wine from Amazon’s website starting today in the company’s latest far-reaching venture. As is usually the case, it’s quantity over quality with over one thousand different wines for sale.