Company News

By Best Buy Company News

30 Jul: Best Buy reaffirms support for DACA recipients

Best Buy joined more than 80 companies Thursday in a letter to Congress urging a permanent legislative solution and path to citizenship for Dreamers, undocumented young adults who were brought to the United States as children through no fault of their own and continue to live and work here. They have been protected from deportation under the Deferred Action for Childhood Arrivals (DACA) program.

The effort was organized by the Coalition for the American Dream, a group of business and industry leaders that support finding a permanent solution for DACA recipients.

By Anthony Aleman Company News

29 Jul: Best Buy celebrates largest, most diverse intern class ever

After a one-year hiatus due to the pandemic, Best Buy welcomed back its summer internship program this year — and it’s our biggest, most diverse class ever.

It’s also the first time that internships have been entirely virtual, and our emerging talent team put an emphasis on making sure it’s still a great experience for all 179 participants.

“We, as a company, really believe that a lot of our strengths can be found at the emerging talent point,” said James McLean, program lead for the emerging talent team.

By John Vomhof Jr. Company News

27 Jul: Best Buy named to 2021 Best Employers for Women list

For the third straight year, Best Buy has been named to Forbes magazine’s list of America’s Best Employers for Women.

The ranking is based on an independent survey that asked respondents to rate their employers and peer companies based on topics such as development, salary, benefits, diversity and the likelihood of recommending their employer.

At Best Buy, we are committed to gender equity. We were recently named one of Parity.org’s Best Companies for Women to Advance, and we were included in Bloomberg’s Gender Equality Index.

By Anthony Aleman Company News

23 Jul: Best Buy named one of Best Places to Work for Disability Inclusion

Best Buy has earned a perfect score of 100% on the Disability Equality Index (DEI), ranking among the leading companies on the list of Best Places to Work for Disability Inclusion for the seventh year in a row.

The DEI is a benchmarking tool used by Fortune 1000 companies to better understand how they can achieve disability inclusion and equality. The index measures culture and leadership, companywide access, community engagement, supplier diversity, recruitment, benefits, and employee retention and advancement.

More than 61 million adults in the U.S.

By Ale Valeriano Company News

16 Jul: Best Buy Joins HBCU Partnership Challenge

Today’s youth are tomorrow’s designers, engineers, artists and entrepreneurs, which is why Best Buy is committed to building brighter futures for students across the country.

To support students and build a diverse talent pipeline, we are proud to join the Historically Black Colleges and Universities (HBCU) Partnership Challenge. The challenge is a bipartisan effort led by the Congressional HBCU Caucus to promote greater engagement and support between private companies and HBCUs, including developing new career possibilities for students and improving diversity and inclusion across industries.

“Best Buy is committed to increasing diversity within all levels of our company,” said Amelia Hardy, Best Buy’s vice president of strategic community engagement.

By Best Buy Company News

24 Jun: Best Buy commits to spending $1.2B with BIPOC and diverse businesses by 2025

Company to invest in supporting BIPOC businesses and communities and increasing diverse representation throughout the tech industry

MINNEAPOLIS (June 24, 2021) – Best Buy is committing to spending at least $1.2 billion with BIPOC and diverse businesses by 2025. This pledge includes plans to increase all forms of spending with Black, Indigenous and people of color (BIPOC) businesses from nearly every corner of the company — from how it brings goods and services to stores to its supply chain to where and how it advertises.

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By John Vomhof Jr. Company News

22 Jun: Parity.org names Best Buy one of ‘Best Companies for Women to Advance’

For the second straight year, Parity.org has named Best Buy to its list of Best Companies for Women to Advance.

The list recognizes 34 companies that have implemented exemplary benefits, policies and programs that ensure women have significant opportunities to advance their careers. Only 11 large companies made the 2021 list, based on a rating that considered recruitment, benefits, executive preparation, measurement and overall representation.

Best Buy is committed to inclusion and diversity, and we’re proud to have women leaders at the highest levels of our company.

By John Vomhof Jr. Company News

28 May: How Best Buy is investing in our employees’ mental health

Best Buy has long focused on providing mental health resources to support our employees, and those efforts have only increased during the COVID-19 pandemic.

Over the past year, we have increased our investment in this area by introducing new benefits and expanding existing ones. It’s a big commitment for us year-round, not just during Mental Health Awareness Month in May.

Mental health is an integral piece of our focus on our employees’ overall well-being — physical, mental, financial and work/life — as we work toward our goal of being one of the best employers in the U.S.

By John Vomhof Jr. Company News

28 May: See how Best Buy is supporting the LGBTQIA+ community

As Best Buy celebrates Pride month this year, we also recognize the challenges and continued attacks the LGBTQIA+ community has faced over the past year — especially transgender and gender non-conforming people.

We’re committed to creating an inclusive culture, both inside our company and beyond. We’ve achieved a 100% rating on the Human Rights Campaign (HRC)’s Corporate Equality Index for 16 years in a row, earning the distinction of being a Best Place to Work for LGBTQ Equality.

We’ve also joined with HRC and hundreds of companies and organizations to support the Equality Act.

By Best Buy Company News Homepage Featured Top News Press Releases

27 May: Best Buy reports better-than-expected Q1 FY22 results

Enterprise Comparable Sales Increased 37.2%

GAAP Diluted EPS Increased 280% to $2.32

Non-GAAP Diluted EPS Increased 233% to $2.23

Raises Full-Year Enterprise Comparable Sales Growth Outlook to a Range of 3% to 6%

MINNEAPOLIS, May 27, 2021 — Best Buy Co., Inc. (NYSE: BBY) today announced results for the 13-week first quarter ended May 1, 2021 (“Q1 FY22”), as compared to the 13-week first quarter ended May 2, 2020 (“Q1 FY21”).

Revenue ($ in millions)	Q1 FY22	Q1 FY21
Enterprise	$11,637	$8,562
Domestic segment	$10,841	$7,915
International segment	$796	$647
Enterprise comparable sales % change¹	37.2%	(5.3)%
Domestic comparable sales % change¹	37.9%	(5.7)%
Domestic comparable online sales % change¹	7.6%	155.4%
International comparable sales % change¹	27.8%	0.2%
Operating Income
GAAP operating income as a % of revenue	6.6%	2.7%
Non-GAAP operating income as a % of revenue	6.4%	2.9%
Diluted Earnings per Share (“EPS”)
GAAP diluted EPS	$2.32	$0.61
Non-GAAP diluted EPS	$2.23	$0.67

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

By Brenden Johnson Company News

26 May: Best Buy named one of the Best Employers for New Graduates

For the third year in a row, Best Buy has been named one of Forbes’ Best Employers for New Graduates.

This list identifies the companies that young professionals would most highly recommend to family and friends. They were asked to rate their employers based on criteria such as their workplace experience, career opportunities and the values and purpose of the company.

We’re proud to be recognized by Forbes with this latest honor. Additionally, the magazine has named Best Buy to its lists of America’s Best Employers for Diversity, America’s Best Large Employers, and America’s Best Employers for Women.

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