CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:
BBY shares are down today on company news of CEO succession. Corie Barry, current and long-standing CEO, will step down in October as CEO and member of the Board. Her replacement is Jason Bonfig, currently Chief Customer, Product, and Fulfillment Officer. We think Bonfig has experience across all the key areas of the business, including merchandising, e-commerce, marketing, supply chain, and other areas. The share price has not recovered since its 52-week high of $85 in October 2025, which we think is related to the changing competitive landscape and AI memory chip shortages impacting the consumer electronics offered. Major PC vendors have confirmed 15%-20% price increases, while smartphone prices are expected to rise high single digits. BBY has limited mitigation levers, given it can't source from alternative suppliers, could not easily pass through costs without triggering demand destruction, and absorbing costs hurts margins. We will get the latest update on market trends when BBY releases earnings in May.