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Blog Q1FY24FinancialResults

25 May: Best Buy reports Q1 FY24 results

Comparable Sales Declined 10.1%

GAAP Diluted EPS of $1.11

Non-GAAP Diluted EPS of $1.15

FY24 Financial Guidance Remains Unchanged

MINNEAPOLIS, May 25, 2023 — Best Buy Co., Inc. (NYSE: BBY) today announced results for the 13-week first quarter ended April 29, 2023 (“Q1 FY24”), as compared to the 13-week first quarter ended April 30, 2022 (“Q1 FY23”).

Click here to view full release and statements.

  Q1 FY24 Q1 FY23
Revenue ($ in millions)
Domestic segment $8,801$9,894
International segment$666$753
Enterprise comparable sales % change1(10.1)%(8.0)%
Domestic comparable sales % change1(10.4)%(8.5)%
Domestic comparable online sales % change1(12.1)%(14.9)%
International comparable sales % change1(5.5)%(1.4)%
Operating Income 
GAAP operating income as a % of revenue3.3%4.3%
Non-GAAP operating income as a % of revenue3.4%4.6%
Diluted Earnings per Share (“EPS”) 
GAAP diluted EPS$1.11$1.49
Non-GAAP diluted EPS$1.15$1.57

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


17 May: Best Buy mentorship ad campaign earns 2023 Halo Award

Best Buy is proud to announce our national ad campaign featuring Best Buy Teen Tech Centers™ was selected as the Best Social Impact Video in the 2023 Halo Awards from Engage for Good.

The Halo Awards recognize corporate social impact initiatives that show outstanding customer or employee engagement efforts. 

The “Mentor Moments” campaign launched last year with three short films featuring real teen/mentor pairs from three Teen Tech Centers. Director Rodney Lucas, story producer Bridget Botchway Bradley and photographer Akilah Townsend worked closely with the teens and adults to highlight the importance of positive mentoring relationships in helping teens achieve their dreams.

Best Buy Unveils My Best Buy Memberships™

11 May: Best Buy unveils My Best Buy Memberships™

New My Best Buy Plus™ tier is available June 27 and includes access to exclusive member prices and highly anticipated product releases, as well as free 2-day shipping and more for only $49.99/year1

MINNEAPOLIS—May 11, 2023. Today, Best Buy is unveiling a new suite of membership options — My Best Buy Memberships™ — that give customers more freedom to choose a membership that fits their technology needs, budget and lifestyle. One of these options includes a new tier, at a more affordable price, that offers exclusive prices and access to highly anticipated product releases.

diversity inc blog

04 May: Best Buy makes DiversityInc Top 50 Companies for Diversity list

Best Buy is proud to be recognized on DiversityInc’s 2023 list of Top 50 Companies for Diversity. This is our first time in the Top 50.

We also were ranked No. 17 on DiversityInc’s Top Companies for Board of Directors list.

DiversityInc evaluates companies on workplace fairness, equity and inclusion initiatives, and outcomes focused on leadership accountability, organizational programs and practices, and representation of company leadership.

We know that a culture of equity and inclusion is fundamentally important to the long-term success of our business.

ttc richfield blog

12 Apr: 10th Best Buy Teen Tech Center opens in Minnesota

We’re excited to celebrate a major milestone in Minnesota today with the opening of the state’s 10th Best Buy Teen Tech Center®, a program of the Best Buy Foundation. The new center, located at the Richfield Middle School Boys & Girls Club powered by Premium Retail, is the 53rd Teen Tech Center to open.

This year also marks the 10th anniversary of the foundation’s signature program, and Best Buy is committed to help build 100 Teen Tech Centers across the country by 2025.

Best Buy Technology Recycling Box blog

05 Apr: Best Buy launches nationwide Recycle-by-Mail Technology Boxes

New service makes electronic recycling easy and convenient for customers; ship everything from laptops, cords, tablets and more 

As the nation’s largest retail collector of e-waste, Best Buy has recycled 2.7 billion pounds of electronics and appliances 

Recycling your old electronics is about to become easier than ever. Best Buy is introducing a new nationwide, easy-to-use program that allows you to recycle all your old tech – by mail!

Starting this month, you can order a prepaid Best Buy Technology Recycling Box and ship off your old electronics for recycling.

Best Buy Logo

30 Mar: Best Buy appoints Sima Sistani and Melinda Whittington to Board of Directors 

MINNEAPOLIS–(BUSINESS WIRE)– Best Buy Co, Inc. (NYSE:BBY) today announced that Sima Sistani, a seasoned media and technology leader, and Melinda Whittington, a leading executive in the furniture industry, have been appointed to its Board of Directors, effective immediately. 

Sima Sistani

Sistani serves as the Chief Executive Officer of WW International, Inc., a company focused on helping people adopt healthy habits through human-centric technology and community, which she joined in March 2022. She also serves as a member of its Board of Directors. 

energy star blog

28 Mar: ENERGY STAR names Best Buy as Partner of the Year for 10th year in a row

For the 10th consecutive year, Best Buy has been named an ENERGY STAR® Partner of the Year for the work we do every day to help our customers save energy. 

The U.S. Environmental Protection Agency (EPA) highlights organizations each year that have made outstanding contributions to protecting the environment through superior energy-efficiency achievements.  

We were awarded ENERGY STAR Partner of the Year for our efforts to protect the environment and help people conserve energy and money. This includes our wide selection of energy-efficient product offerings and becoming a founding member of the Breakthroughs 2030: Retail campaign, a Race to Zero initiative. 

best buy circular economy blog

27 Mar: Best Buy and the circular economy

In a world of finite resources, Best Buy is working on ways to do business where nothing is wasted.  

From investing in renewable energy to reducing waste in our operations and offering products that help our customers live more sustainably, we’re prioritizing the circular economy. It’s a system that promotes using fewer new natural resources, keeping products and materials in use as long as possible and finding alternatives to throwing them away.  

“The shift to a circular economy has challenges, especially because it requires innovation and exploring new ways to create and use products,” said Tim Dunn, Best Buy’s head of environmental sustainability.

best buy circular economy recycling blog

27 Mar: Repair, Reuse and Recycle – How Best Buy keeps products in use longer

As the nation’s largest seller of consumer electronics, we are committed to being there for the entire lifecycle of your technology products — from the time you start shopping at Best Buy until that product is responsibly recycled.  

This is all part of how we support the circular economy, a system in which nothing is wasted. For us that also means keeping products and materials in use as long as possible and finding alternatives to throwing them away. Through programs including Geek Squad repair or our haul-away services, we make it easy to give tech a second life and out of landfills.   

Yardbird blog

16 Mar: Yardbird to nearly double outdoor furniture showrooms this spring

Patio season is right around the corner and premium outdoor furniture brand Yardbird is expanding its showroom footprint by opening 11 new standalone showrooms across the country. Locations welcoming new showrooms include Atlanta, Boston, Charlotte, Cincinnati, Long Island, Milwaukee, Raleigh, San Antonio, San Francisco, Tampa and West Palm Beach.

Yardbird showrooms bring to life the possibilities for outdoor living and entertaining spaces by offering selections of sectional sofas, dining sets, lounge chaises, fire tables, umbrellas, accessories and more. In-house designers can also help customers decide on which furniture options are best.

2023 WME

13 Mar: Best Buy recognized as one of the 2023 World’s Most Ethical Companies®

Best Buy is honored to be included for a ninth year on Ethispherelist of World’s Most Ethical Companies®. We are one of three retailers to make the 2023 list.

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

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

  • We continued our yearly employee Code of Ethics training for all employees. This required course contains examples of real-life, everyday situations that they might face and helps guide their decision-making.