Company News

Illustrated image of customer support experience via the Best Buy app

By Best Buy Company News

09 Apr: How Best Buy is using generative AI to create better customer support experiences

At Best Buy, our purpose is to enrich lives through technology. We’re able to do this by focusing on meeting our customers wherever they are along their technology journey, offering a unique mix of advice, products, and services. Whether it’s in our stores, on BestBuy.com, through our app, or in customer homes, we’re here to help people understand all the possibilities that technology can offer them.

That’s why we’ve partnered with Google Cloud and Accenture to help us further unlock the power of people, using generative AI to provide our customers with even more personalized, best-in-class tech support experiences.

A picture of teens participating in Junk Kouture program

By Best Buy Company News Sustainability

08 Apr: Microsoft, Junk Kouture, and Best Buy unite to foster eco-conscious innovation

New York, NY – April 8, 2024 – In an exciting new activation, Microsoft, Junk Kouture, and Best Buy have joined forces in driving eco-conscious habits, responsibly recycling old electronics, and a shared commitment to sustainability. The trio is amplifying and empowering the voices of New York’s young creatives, offering them a platform to inspire nationwide recycling efforts, drive change in support of a brighter future, powered by the versatility of the Microsoft Surface Pro 9.

The quest begins with high school students participating in the Junk Kouture program, the world’s largest youth sustainable fashion competition.

A photo of an Energy Star Partner of the Year award

By Best Buy Company News Sustainability

26 Mar: For 11th year in a row, Best Buy named ENERGY STAR Partner of the Year

Best Buy is honored to be named ENERGY STAR® Partner of the Year for the 11^th consecutive year. This award reflects our ongoing commitment to helping our customers save energy and live more sustainably.

Each year, the U.S. Environmental Protection Agency highlights organizations that have demonstrated exemplary commitments to promoting energy-efficient products and the ENERGY STAR program. This award represents one of many ways that we are working to protect the environment, which includes promoting the use of ENERGY STAR certified products to help our customers reduce energy consumption.

By Best Buy Company News Sustainability

20 Mar: How2Recycle® label program to help Best Buy customers with package disposal

Best Buy’s sustainability efforts continue to evolve as we work to reduce our impact on the environment. From leading the charge in recycling e-waste to reducing our carbon emissions, we want to do more for the planet — and help our customers do the same.

As part of that, we’re partnering with How2Recycle®, a standardized labeling system that provides transparent on-package disposal instructions. Because recycling programs vary by region, it’s sometimes hard to know if your recyclables end up in the right place.

By Best Buy Company News

07 Mar: Best Buy Announces Retirement of Board Chairman J. Patrick Doyle, Appoints David Kenny

MINNEAPOLIS, March 7, 2024— Best Buy Co., Inc. (NYSE: BBY) announced today that current Board Chairman, J. Patrick Doyle, will retire from his position, effective as of the expiration of his annual term on June 12, 2024. Doyle has served on Best Buy’s Board of Directors since 2014 and has been chairman since 2020.

David Kenny will succeed Doyle and will take on the chairman role, effective as of Doyle’s retirement. Kenny is the executive chairman of Nielsen and has been on the Best Buy Board since 2013.

A photo of three employees in a Best Buy store

By Best Buy Company News

04 Mar: Best Buy named to World’s Most Ethical Companies® list for 10th year

Best Buy is proud to once again be included on Ethisphere’s World’s Most Ethical Companies® list. This is the tenth time we’ve been honored for helping to define and advance the standards of ethical business practices.

The Ethisphere list recognizes companies for their culture, environmental and social practices, ethics and compliance activities, governance, and diversity initiatives.

Here are some of the efforts that contributed to our inclusion on the 2024 list:

We continued our yearly Code of Ethics training for all employees.

An image that says Q4 FY24 Financial Results with the Best Buy yellow tag

By Best Buy Company News

29 Feb: Best Buy Reports Q4 FY24 Results

Comparable Sales Declined 4.8%

GAAP Diluted EPS of $2.12

Non-GAAP Diluted EPS of $2.72

Increasing Quarterly Dividend 2% to $0.94 per Share

Expects FY25 Non-GAAP Diluted EPS of $5.75 to $6.20

MINNEAPOLIS, February 29, 2024 — Best Buy Co., Inc. (NYSE: BBY) today announced results for the 14-week fourth quarter ended February 3, 2024 (“Q4 FY24”), as compared to the 13-week fourth quarter ended January 28, 2023 (“Q4 FY23”).

Click h ere to view full release and statements.

	Q4 FY24	Q4 FY23	FY24	FY23
	(14 weeks)	(13 weeks)	(53 weeks)	(52 weeks)
Revenue ($ in millions)
Enterprise	$14,646	$14,735	$43,452	$46,298
Domestic segment	$13,410	$13,531	$40,097	$42,794
International segment	$1,236	$1,204	$3,355	$3,504
Enterprise comparable sales % change¹	(4.8)%	(9.3)%	(6.8)%	(9.9)%
Domestic comparable sales % change¹	(5.1)%	(9.6)%	(7.1)%	(10.3)%
Domestic comparable online sales % change¹	(4.8)%	(13.0)%	(7.8)%	(13.5)%
International comparable sales % change¹	(1.4)%	(5.7)%	(3.2)%	(5.4)%
Operating Income
GAAP operating income as a % of revenue	3.8%	4.1%	3.6%	3.9%
Non-GAAP operating income as a % of revenue	5.0%	4.8%	4.1%	4.4%
Diluted Earnings per Share (“EPS”)
GAAP diluted EPS	$2.12	$2.23	$5.68	$6.29
Non-GAAP diluted EPS	$2.72	$2.61	$6.37	$7.08

For GAAP to non-GAAP reconciliations of the measures referred to in the above table, please refer to the attached supporting schedule.

By Best Buy Company News

20 Feb: Video series follows Teen Tech Center youth pursuing passions: VRtual Art

We’re excited to introduce “Passion Projects,” a video series that shares the stories of teens who are not just dreamers but doers. Fueled by the support of dedicated mentors, these young talents are turning self-assigned projects into achievements.

Youth across the United States are unlocking these opportunities through Best Buy Teen Tech Centers™, a program of the Best Buy Foundation™. Teen Tech Centers are a network of creative, youth-centered community hubs where teens can engage with the latest technology, learn real-world career skills and interact with safe and supportive mentors.

By Rachel Coleman Company News

06 Feb: For seventh year, Best Buy makes CDP’s Climate A List

Best Buy is proud to be named to CDP’s prestigious Climate A List for the seventh consecutive year.

We have been credited as a leader by CDP for our efforts tackling climate change and accelerating our environmental goals. This year’s recognition is based on our actions to cut emissions, mitigate climate risks and drive a low-carbon economy.

“Doing our part to create a more sustainable future is the right thing to do for our business, our communities and our planet,” said Tim Dunn, Best Buy’s head of environmental sustainability.

By Jen Young Company News

18 Jan: Teens pitch invention to tech leaders in Silicon Valley

On the surface it doesn’t look like much, but a prototype device held together by duct tape and anchored with plastic bottles could solve a problem that’s been plaguing an Indianapolis community for decades.

The device earned a group of teenagers from the Best Buy Teen Tech Center® powered by Klipsch at the Martin Luther King Community Center in Indianapolis a trip to Silicon Valley. They designed the prototype filtration device to filter water at Belmont Beach. The beach is polluted with sewer and storm runoff water and for years was a dumping ground for industrial chemicals and slaughterhouse waste.

By Becca Lunt Company News Geek Squad

27 Dec: A Year in Review: Best Buy Health in 2023

Best Buy Health in 2023 continued to make exciting progress, making waves with a series of groundbreaking announcements that promise to accomplish our goal of enabling care in the home for everyone.

New strategic partnerships

This year, Best Buy Health announced several strategic partnerships with renowned healthcare providers across the country. Through this work, we’re leveraging our expertise in omnichannel, supply chain, Caring Center support and services, in-home support and our ability to connect patients and physicians. By joining forces with clinical leaders in the industry, we continue to demonstrate that we are a driving force behind the fusion of technology and healthcare.

Best Buy customer checking out at cash register.

By Best Buy Company News

13 Dec: Let Best Buy help you wrap up your holiday shopping

Still looking for that perfect gift for the last few names on your shopping list? Just getting started? No matter where you’re at in your holiday shopping, Best Buy is here to help at the last minute. Find the perfect present, save money and get your gifts in time.

Last-minute savings events

Mark your calendars and get ready to score some great late-season deals.

Our Apple Sales Event starts Dec. 14 with tons of deals on a variety of products, including select iPhone models, AirPods, iPad, Apple Watch, accessories, and more.

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