TheStreet’s Jim Cramer says he regrets missing the boat on Best Buy. The largest U.S. consumer electronics chain store higher-than-expected quarterly earnings on Tuesday. Best Buy said strong sales growth during the holiday season resulted in a 77 percent jump in quarterly profit. The retailer also announced it would buy back $1 billion in shares over three years and that it will boost its dividend by 21 percent and issue a special dividend of $0.51 a share. Cramer says he didn’t like Best Buy because he felt the company was striving for growth rather than profitability. Now they have pulled back and are striving for profitability. Cramer says that makes him like the company but now the stock has run up too much. He says he missed Best Buy.
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