Is There A Better Time to Buy? (NYSE: BBY)

NEW YORK - Best Buy the largest electronics retailer in the United States has seen its stock lose 30% of its value since December 10, which coincides with a 6% increase in the S&P 500. More recently the stock lost 8% of its value since it reported its Q4 results on March 24.

The company said that during the fiscal year revenue grew 1 percent but net income declined to $1,277 million from $1,317 and earnings per share declined to $3.08 per share from $3.10 in fiscal 2010. The company also said comparable same store sales which measures year over year sales at stores that have existed for more than a fiscal year declined by 4.6%.

The company updated its guidance for 2011, where it believes it will increase revenue by 1 to 4% and Net earnings per diluted share of $3.28 to $3.53. However this amount is affected by the addition of a 53rd week of the year by Best Buy.

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