Company News

By Anthony Aleman Company News

25 Jul: Back to school 2023: Shop smart with Best Buy

It’s back-to-school season, and we’ve put together a study guide to help you shop the latest technology and accessories at Best Buy.

Whether in class or studying at home, you need the right tools to make the grade. Best Buy has you covered, from advice to savings on the latest and greatest products. We’re sharing our notes, so read on and build your shopping strategy.

Back-to-school shopping essentials

We recommend starting with the basics and getting organized. Here are some tools to help you:

Student Hub: Our Student Hub is your destination for resources and inspiration.

By Keegan Shoutz Company News

20 Jul: Best Buy expands offering for customers with hearing loss

Best Buy is expanding its existing hearing device experience, 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. An additional 200 stores will have the in-store hearing experience this summer, with an additional 100 added in the fall, bringing the total number of stores carrying hearing devices to over 600. We’re also adding a selection of new hearing aid sets in store and online, expanding the number of brands we offer our customers overall.

By Best Buy Company News

17 Jul: How to shop your state’s 2023 tax-free sale at Best Buy

It’s that time of the year when shoppers in certain states can get their hands on new tech tax-free before school starts. To help you shop smart and save big, we’re here with some advice for crossing off some of those back-to-school essentials on your shopping list.

This year, multiple states will have tax exemptions on select products, including laptops, tablets, computing accessories, and more. We’re looking at you, Arkansas, Florida, Missouri, South Carolina, and Tennessee.

See the gallery below for a breakdown of tax-free sales by state.

By Best Buy Company News

27 Jun: My Best Buy Memberships™ has arrived

Updated membership options give customers the opportunity to find the tier that fits their needs.

Sign up now for exclusive deals, deeper discounts, tech support, product protection and more.

The wait is over! Today, Best Buy is rolling out its new suite of membership options, My Best Buy Memberships™ — three tiers built for customers who want convenience, value and access, and protection and support.

Each of the options, My Best Buy™, My Best Buy Plus™ and My Best Buy Total™ offers a different set of benefits that give customers more freedom to find a membership that fits their technology needs, budget and lifestyle.

By Best Buy Company News

14 Jun: Best Buy adds iPad Pro and Apple Watch Ultra to Upgrade+

Today, Best Buy is introducing even more products to its Upgrade+ program, powered by Citizens Pay®, making it easier than ever to experience Apple’s latest technology at unbelievable monthly prices.

Customers will now be able to get their hands on select models of iPad Pro and Apple Watch Ultra through the exclusive program, offering more flexibility to get the products that best fit their tech needs – and their budget. The program also includes the latest models of MacBook Air, MacBook Pro, iMac, Mac Studio and Mac mini.

By Best Buy Company News

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)
Enterprise	$9,467	$10,647
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 revenue	3.3%	4.3%
Non-GAAP operating income as a % of revenue	3.4%	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.

By Emily Gaylord Company News

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.

By Best Buy Company News

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.

By Emily Gaylord Company News

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.

By Ale Valeriano Company News

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.

By Ale Valeriano Company News

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.

By Best Buy Company News

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.

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.

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