Best Buy Co., Inc. (BBY) and Samsung Electronics have entered an agreement where Samsung will set up mini-stores at Best Buy locations in the US to showcase its tablets, smartphones, and televisions.
Starting on April 8, the South Korean company will open 500 mini-stores, called Samsung Experience Shops, inside Best Buy locations. The mini-stores will take up 460 square feet of real estate near the front of BBY stores, Samsung said in a statement on Wednesday.
This is a new strategy for both companies in order to better compete with other players in their respective industries. Samsung is attempting to battle Apple (AAPL) and its retail store power. Embattled electronics retailer Best Buy, on the other hand, is utilizing this “store within a store” strategy to differentiate itself from its biggest competitors, Amazon (AMZN) and Wal-Mart (WMT).
Best Buy shares were up 22 cents, or +1.02%, during pre-market trading on Thursday. The stock is up +82.7% year-to-date.
The Bottom Line
Shares of Best Buy (BBY) have a dividend yield of 3.14% based on last night’s closing price of $21.65 and the company’s annualized dividend payout of 68 cents per share.
Best Buy Co., Inc. (BBY) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.0 out of 5 stars.