Best Buy

By Best Buy Company News

04 Dec: Best Buy to Sell its Five Star Business in China

MINNEAPOLIS – Dec. 4, 2014 – Best Buy Co., Inc. (NYSE:BBY) today announced that it has entered into a definitive agreement for the sale of its Five Star business to the Jiayuan Group, a prominent China-based real estate firm led by Chairman Yuxing Shen. This sale does not affect Best Buy’s private label operations in China.

“Over the last two years we have worked to improve our business in China and are proud of the progress we have made there,” said Hubert Joly, president and chief executive officer of Best Buy.

By Best Buy Company News

28 Nov: 5 Cyber Monday Tips: Keep Your Digital Data Safe

Online shopping has become a popular trend during the holiday season, for obvious reasons. Why go to the store when you can shop in your PJs? Although super convenient, this option can potentially put your personal information at risk.

Here are five great safety tips to help you get that special gift delivered to your door and avoid a bill filled with fraudulent charges.

Secure that network. A secure connection to the Internet is key in preventing unauthorized access to your information.

By Best Buy Company News Featured

28 Nov: Media Statement: BestBuy.com

A concentrated spike in mobile traffic triggered issues that led us to shut down BestBuy.com in order to take proactive measures to restore full performance. Our consumers can return to BestBuy.com in the next several hours to take advantage of today’s door busters.

By Best Buy Company News Featured

20 Nov: Best Buy Announces Fiscal Third Quarter Results

Non-GAAP diluted EPS from continuing operations of $0.32

GAAP diluted EPS from continuing operations of $0.30

$65 million in additional annualized Renew Blue cost reductions, bringing the cumulative total to $965 million

MINNEAPOLIS, November 20, 2014 — Best Buy Co., Inc. (NYSE: BBY) today announced results for the 13-week third quarter (“Q3 FY15”) ended November 1, 2014, as compared to the 13-week third quarter (“Q3 FY14”) ended November 2, 2013.

Revenue	Q3 FY15	Q3 FY14
Revenue ($ in millions)	$9,380	$9,327
Comparable sales % change^1,2	2.2%	0.3%
Domestic Segment:
Comparable sales % change	3.2%	1.8%
Comparable online sales % change	21.6%	15.1%
International Segment:
Comparable sales % change	(3.0%)	(6.4%)

Operating Income	Q3 FY15	Q3 FY14
GAAP operating income as a % of revenue	2.0%	1.0%
Non-GAAP operating income as a % of revenue³	2.2%	1.4%

Diluted EPS	Q3 FY15	Q3 FY14
GAAP diluted EPS from continuing operations	$0.30	$0.12
Impact of non-restructuring asset impairments	$0.01	$0.02
Impact of restructuring charges	$0.02	$0.06
Impact of gain on sale of investments	($0.01)	($0.01)
Benefit of income tax impact of Best Buy Europe sale	$0.00	($0.01)
Non-GAAP diluted EPS from continuing operations³	$0.32	$0.18

Hubert Joly, Best Buy president and CEO, commented, “In the third quarter, our teams delivered positive comparable sales, improved profitability and continued progress in our Renew Blue transformation.

By Best Buy Company News Featured

10 Nov: Learning New Family Tech with Geek Squad at Engadget Expand

A piano made out of bananas. A Play-Doh Tetris game. A whisk and pie-tin drum set.

Visitors to the Engadget Expand event in New York City over the weekend got a chance to experience unique technology for the family at an exhibit staffed by local Geek Squad Agents and Best Buy Blue Shirts.

Geek Squad was there to show visitors some cool – and fun – things that can be done with technology, and show off Geek Squad Academy, which seeks to inspire young people through technology.

By Best Buy Company News PR News Alerts

03 Nov: Best Buy Welcomes New Member to its Board of Directors

MINNEAPOLIS – Nov. 3, 2014 – Best Buy Co., Inc. announced today the appointment of J. Patrick Doyle to its Board of Directors. Doyle is the president and chief executive officer of Domino’s Pizza, the world leader in pizza delivery and the second largest pizza company in the world.

Doyle, 51, joined Domino’s Pizza in 1997, serving in a variety of leadership roles across its domestic and international businesses. He has been president and chief executive officer of Domino’s since March 2010.

By Best Buy Company News Featured

30 Oct: See How ‘Connected Home’ Products Alleviate Everyday Frustrations

Although the “Connected Home” space can be a little intimidating for those of us who aren’t self-proclaimed tech gurus, these products are designed to simplify your everyday life.

Keeping that in mind, Best Buy has started rolling out Connected Home sections to more than 400 stores across the country so that customers are able to see some of this exciting new technology in action. All of the stores will be completed in time for holiday shopping.

But before you head to your local store to play with the hands-on demos, here’s a heads up on a few of the high-tech products and associated features that can make your life easier and provide peace of mind:

Home Automation:

Honeywell Lyric smart thermostat – This thermostat is equipped with geofencing technology where your thermostat will turn off when you leave your home and turn back on once you’re within a five mile radius
Nest smart thermostat – This thermostat learns your habits and patterns to accommodate your lifestyle while also saving energy and money in the process.

By Best Buy Community Relations Company News

20 Oct: Best Buy Doubles Down, Opens 4 Teen Tech Centers Nationwide

A 12-year-old aspiring inventor created a desk fan for his mom with parts from a broken PC and a cardboard box. Adding a single-throw switch, and wires for the circuit, the fan came alive. Beaming with pride, the boy started his own fan project with a completed prototype and has plans to design a custom enclosure using a 3D printer and a program called Tinkercad.

Believe it or not, he brainstormed and executed his fan project within the walls of the Best Buy Teen Tech Center in Minneapolis.

By Best Buy Company News

19 Sep: Here’s How To Protect You and Your Tech this School Year

One of the last things you want to worry about now that you’re back at school is an accident with your new tech gear.

Stats say five out of six students say that they’ve lost or broken their phone, and three in five tablet owners suffer from mishaps like keyboard spills, dropping their tablet or damaging the screen.

Whether it’s dropping your device, someone accessing your information on a Wi-Fi network, or catching a computer virus, there are ways to avoid these Back to School blues.

By Best Buy Company News

16 Sep: Best Buy Welcomes Two New Wearables

Forecasters claim the wearables market will climb from $2.5 billion last year to $12.6 billion in 2018.

That’s in part thanks to activity trackers like Fitbit Flex and Jawbone Up – and to the folks who not only wear them at the gym, but while waiting in line at the grocery store.

Now two of the latest and greatest health and fitness devices join the wearables family at Best Buy — the Garmin vívosmart and the Misfit Flash. Here’s the lowdown:

The Garmin vívosmart is an activity tracker with a few smartwatch-like notification features as an added bonus.

By Best Buy Company News

10 Sep: Mobile Phone Plans Have Morphed: 5 Things to Know

With Apple’s new phones coming, along with Samsung’s Note 4 and Note Edge, you may be thinking about upgrading.

What you may not know is things have changed with carrier plans too, giving you more options.

In the old days (about six months ago), a two-year contract was the gold standard. Now new carrier monthly installment billing options without contracts are gaining popularity with consumers, especially those with family plans.

Here’s what’s so appealing about this new option:

1. Pay $0 down
Well-qualified customers can leave the store with a new Apple iPhone or Samsung Note for $0.

By Best Buy Company News

03 Sep: Best Buy Introduces Exclusive kate spade new york Tech Accessories

Give your smartphone, tablet and laptop a makeover – after all, it is Fashion Week in New York – as a new collection of exclusive tech accessories from top fashion designers and brands begins to arrive at Best Buy.

Starting Sunday, Sept. 7, kate spade new york smartphone, tablet and laptop cases, as well as portable power packs, will be available at select Best Buy and Best Buy Mobile stores and on BestBuy.com. It’s the first in a series of Best Buy fashion designer partnerships to be announced in coming weeks.

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