New York, August 20, 2013 -- In a release published earlier today, Moody's Investors Service today stated that Best Buy's Q2 results are a credit positive for the company. "Best Buy continues to make tangible incremental progress in its repositioning plan, and seems to have stemmed its recent negative sales trend as evidenced by essentially flat sales with steady gross margin for the quarter, and leverage has reduced and interest coverage has improved," stated Moody's Vice President Charlie O'Shea. "We continue to have confidence in Best Buy's competitive strength, and in the company's ability to leverage its deep vendor relationships such as Samsung and its vast brick-and-mortar network to effectively compete with single-channel online retailers as it improves its on-line business. As these efforts continue to ramp-up, with the focus on buy-online/pick-up in store as well as the logical extension into ship-from-store, we feel Best Buy is well-positioned going into the back half of 2013. Macroeconomic pressures are certainly present, however we feel Best Buy will more than hold its own against its competition for the balance of this year and into early 2014," continued O'Shea.

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