Company News

By Ale Valeriano Company News

29 Sep: Best Buy, Google team up for new Teen Tech Center in California

Today, The Best Buy Foundation celebrated the grand opening of the Best Buy Teen Tech Center® at Movimiento de Arte y Cultura Latino Americana (MACLA) in San José, California. The center provides teens with access to cutting-edge technology, including tools for film, digital media, audio engineering and music production.

Google.org, Google’s philanthropic arm, is co-funding the Teen Tech Center. Their contribution to MACLA will support the work the center is doing to provide tech access, digital skills training and mentorship for youth.

By Emily Gaylord Company News

28 Sep: Best Buy recognized for support of military employees

Best Buy was recently recognized by the U.S. Secretary of Defense for benefits and assistance available to military employees with the Above and Beyond Award.

In addition, multiple leaders across the company have received Patriot Awards for their personal support of an employee serving in the National Guard.

The Best Buy Military Employee Resource Group (ERG) leadership team accepted the Above and Beyond award on behalf of the company at the Minnesota State Fair on Aug. 30.

“We are genuinely honored to receive this award,” said ERG chair Nikki Kukla.

By Ale Valeriano Company News

15 Sep: Best Buy launches protective cases with sustainable packaging for new iPhone 14 lineup

Our sustainability journey has pushed us to continually find new ways to innovate within our operations and beyond. That includes making Best Buy’s exclusive brand products and the packaging they come in more sustainable.

We’re launching an expansive line of protective cases for the new iPhone 14 lineup, and there’s something special about the packaging they come in: it’s being made with sustainably sourced paper that is certified by the Forest Stewardship Council® (FSC®). The phone cases are the largest lineup yet of Best Buy exclusive brand products to get the eco-friendly packaging.

By Best Buy Company News

30 Aug: Best Buy reports Q2 FY23 results

Comparable Sales Declined 12.1% Compared to 19.6% Growth in Q2 FY22

GAAP Diluted EPS of $1.35

Non-GAAP Diluted EPS of $1.54

MINNEAPOLIS, August 30, 2022 — Best Buy Co., Inc. (NYSE: BBY) today announced results for the 13-week second quarter ended July 30, 2022 (“Q2 FY23”), as compared to the 13-week second quarter ended July 31, 2021 (“Q2 FY22”).

Click here to view full release and statements.

	Q2 FY23	Q2 FY22
Revenue ($ in millions)
Enterprise	$10,329	$11,849
Domestic segment	$9,569	$11,011
International segment	$760	$838
Enterprise comparable sales % change¹	(12.1)%	19.6%
Domestic comparable sales % change¹	(12.7)%	20.8%
Domestic comparable online sales % change¹	(14.7)%	(28.1)%
International comparable sales % change¹	(4.2)%	5.0%
Operating Income
GAAP operating income as a % of revenue	3.6%	6.7%
Non-GAAP operating income as a % of revenue	4.1%	6.9%
Diluted Earnings per Share (“EPS”)
GAAP diluted EPS	$1.35	$2.90
Non-GAAP diluted EPS	$1.54	$2.98

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

By Keegan Shoutz Company News

17 Aug: Best Buy launches new experience for customers with hearing loss

This fall, Best Buy is introducing a new experience for hearing devices, making it more convenient than ever for the millions of Americans with mild to moderate hearing loss to get the products and support they need. The new experience will include an expanded collection of hearing devices, an in-store experience in more than 300 stores, and a new online hearing assessment tool.

This isn’t the first time we’ve offered hearing solutions; for years, we’ve had a collection of personal sound amplification products (PSAPs), self-fitting hearing devices, TV amplifiers, hearing protection devices and other accessories.

By Brynn Albrecht Company News

16 Aug: Best Buy reduces water consumption 24% since 2019

Water scarcity is a growing issue nation-wide. That’s why we are taking steps to reduce our water consumption and help our customers do the same.

By monitoring our water consumption across our business, we are proud to share that we have reduced our water usage across the company by 24% since 2019. From our stores to distribution centers and headquarters in Minnesota, we are committed to sustainably managing the water we use to help the planet.

Here’s a quick look at steps we’ve taken to achieve our goal to reduce the amount of water we use across our business.

By Olivia Bruce Company News

09 Aug: For Best Buy executive, 50th Teen Tech Center is personal

For Damien Harmon, Gary, Indiana will always be home. It’s the place that raised him, invested in his future, and gave him the confidence to go out and chase his dreams.

Now Executive Vice President of Omnichannel at Best Buy, a role where he leads stores, Geek Squad and all physical customer touch points, Damien is giving back to his hometown the best way he knows how – through tech. Alongside his wife, Katy, they are sponsoring Gary’s first Best Buy Teen Tech Center®, giving Gary teens access to technology that will help them shape their futures.

By Best Buy Company News

05 Aug: Shop this season’s hottest tech during Best Buy’s Anniversary Sales Event Aug. 5-14

We’re celebrating 56 years of Best Buy, and we’re inviting you to join in the festivities!

This month, we’re reflecting on more than five decades serving our customers, and we can’t think of a better way to celebrate than by hosting our very own Anniversary Sales Event.

Starting Aug. 5, we’re bringing customers 10 days of huge savings on this summer’s hottest tech and we’re featuring brands like Samsung, Dyson, Bose, Sony and more. And be sure to keep an eye on BestBuy.com

By Best Buy Company News

25 Jul: Best Buy unveils first ever small-format, digital-first store

By Ale Valeriano Company News

21 Jul: Best Buy, Meta join forces to power 6 new Teen Tech Centers

The Best Buy Foundation is teaming up with Meta to power six Best Buy Teen Tech Center® locations across the country. It’s a major investment by Meta that will bring augmented reality and virtual reality technology and hardware to our growing network of safe, after-school spaces that provide tech access, training and mentorship for youth.

The first of these Meta-powered Teen Tech Centers is celebrating its grand opening today at the Boys & Girls Clubs of the Peninsula at the Moldaw-Zaffaroni Club in East Palo Alto, California.

By Kara Boyle Company News

21 Jul: Best Buy recognized as a 2022 Top Place to Work for Disability Inclusion

Best Buy earned a perfect 100 score to be named a 2022 “Best Place to Work for Disability Inclusion” by the Disability Equality Index (DEI). It’s the eighth year in a row we’ve made the list.

The index is a comprehensive benchmarking tool that recognizes commitment toward disability equality practices and helps companies build a roadmap of actions that they can take to achieve inclusion and equality in the workplace.

We are proud to have earned top numbers across the 2022 scorecard.

By Ale Valeriano Company News

19 Jul: Best Buy moving away from single-use plastic bags

Starting this month, Best Buy will begin working with customers to create a more sustainable future together, one bag at a time.

Beginning July 19, customers shopping in-store will have the option to purchase a plastic bag for 10 cents or are encouraged to bring their own bags for purchases to help reduce plastic waste headed to landfills.

“As we continue to work toward our goal to be a more sustainable company, we are focused on reducing our waste and finding new ways to work with our customers to make a positive impact on the planet,” said Tim Dunn, Best Buy’s head of environmental sustainability.

1 2 … 67