Company News

By Best Buy Company News

21 May: Why Best Buy Is A Great Place To Work For LGBTQIA+ Equality

At Best Buy, we aim to create an inclusive culture where everyone feels welcome and accepted, and not just during Pride Month in June. It’s a year-round commitment.

Our efforts to raise awareness and support for LGBTQIA+ employees and people in the communities we serve has not gone unnoticed. For the 15^th year, we scored 100% on the Human Rights Campaign Corporate Equality Index.

Earning this distinction makes us a “Best Place to Work for LGBTQ Equality.” The index benchmarks and reports on how companies are helping to achieve workplace equality for LGBTQIA+ employees.

By Best Buy Company News

21 May: Best Buy Reports Q1 FY21 Results

Enterprise Revenue Decreased 6.3%

Domestic Comparable Online Sales Increased 155.4%

GAAP Diluted EPS of $0.61

Non-GAAP Diluted EPS of $0.67

MINNEAPOLIS, May 21, 2020 — Best Buy Co., Inc. (NYSE: BBY) today announced results for the 13-week first quarter ended May 2, 2020 (“Q1 FY21”), as compared to the 13-week first quarter ended May 4, 2019 (“Q1 FY20”).

(Click here for a PDF version. Click here to view full release and statements.)


	Q1 FY21	Q1 FY20
Revenue ($ in millions)
Enterprise	$8,562	$9,142
Domestic segment	$7,915	$8,481
International segment	$647	$661
Enterprise comparable sales % change¹	(5.3)%	1.1%
Domestic comparable sales % change¹	(5.7)%	1.3%
Domestic comparable online sales % change¹	155.4%	14.5%
International comparable sales % change¹	0.2%	(1.2)%
Operating Income
GAAP operating income as a % of revenue	2.7%	3.7%
Non-GAAP operating income as a % of revenue	2.9%	3.8%
Diluted Earnings per Share (“EPS”)
GAAP diluted EPS	$0.61	$0.98
Non-GAAP diluted EPS	$0.67	$1.02

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

By Best Buy Company News

15 May: Best Buy Provides Free Tech Classes For Kids At Home

As students face a summer of being homebound because of COVID-19, they (and their parents) are actively looking for new opportunities to learn, explore and grow.

Best Buy is here to help.

Our Geek Squad Agents have created a suite of free online courses that are designed to ignite kids’ creativity and teach them new tech skills. Inspired by our popular Geek Squad Academy summer camps, the curriculum includes topics such as smartphone photography, binary code and how to build video games and websites.

By Best Buy Company News

06 May: Best Buy Makes 2020 DiversityInc Noteworthy List

For the second year in a row, Best Buy has landed a coveted spot on DiversityInc’s list of Noteworthy Companies that are committed to workplace diversity.

The list recognizes the nation’s top companies that excel in hiring, retaining and promoting women, minorities, people with disabilities, LGBTQ individuals and military veterans.

As a company, Best Buy is committed to encouraging our employees to bring their whole selves to work each day — even when going to work may look a little different these days.

By Best Buy Company News

28 Apr: An Update From Best Buy CEO Corie Barry On How We Can Safely Get You What You Need

I genuinely hope you and your family are staying safe and feeling well. We all know the world continues to react to an unprecedented pandemic, and I wanted to update you on the ways in which Best Buy is evolving to meet our customers’ vital technology and appliance needs. Just as importantly, I want to share a big step forward in how we are now able to better serve you in your home.

Across the country — in virtually every city, county and state in which there is a stay-at-home order — we have been designated an “essential” retailer.

By Best Buy Company News

28 Apr: Best Buy To Offer New In-Store Consultations

Since the COVID-19 pandemic began, Best Buy has been working to safely provide the technology essentials people need to work, learn and prepare food at home.

Early on, we closed the inside of our stores to shoppers and moved to a curbside pickup model for customer and employee safety. This works well when purchasing many items. But some purchases, like large appliances or networking equipment, are often made easier with an in-person store visit and a conversation with an expert to answer detailed questions.

By Best Buy Company News

22 Apr: Virtual In-Home Consultations Offer Help When You Need It

Having the right tech at home is more important than ever before. To help, Best Buy is now offering free virtual in-home consultations to meet your essential technology needs.

Instead of visiting customers’ homes like they normally would, our In-Home Advisors are providing consultations by chat, phone and video. They’re specially trained whole-home experts who can help with anything from setting up a home office to updating a home Wi-Fi network.

Virtual in-home consultations are easy to set up. On BestBuy.com

By Best Buy Company News

15 Apr: Best Buy Provides Business Update Related To COVID-19

MINNEAPOLIS, April 15, 2020 — Best Buy Co., Inc. (NYSE: BBY) today announced business updates related to the novel coronavirus (COVID-19).

Best Buy CEO Corie Barry said, “The situation we are all facing as a result of the COVID-19 pandemic is truly unprecedented. As we previously communicated, we made the decision for the health and safety of our customers and employees to shift our stores to a temporary enhanced curbside service-only model starting March 22. At that time, we also suspended all in-home delivery, installation and repairs.”

By Best Buy Company News

09 Apr: Best Buy Named ENERGY STAR Partner Of The Year For 7th Year In A Row

For the 7^th year in a row, the U.S. Environmental Protection Agency (EPA) has named Best Buy as an ENERGY STAR® Partner of the Year. We’ve also received the distinction of Sustained Excellence for being awarded Partner of the Year for more than two consecutive years.

This award recognizes organizations that have made outstanding contributions to protecting the environment through superior energy efficiency achievements.

We are proud of the recognition and the work we do every day to help our customers save energy — and money.

By Best Buy Company News Sustainability

09 Apr: Protecting Our Planet Is Part Of Best Buy’s Business

Best Buy is a big company, which means we have an even bigger responsibility to take care of the environment and use resources responsibly.

We are committed to creating a thriving business while protecting the planet, conserving natural resources and preventing pollution. We do this through reducing our carbon footprint, building out a circular economy and helping our customers live more sustainably.

“We aim to keep our customers and their communities at the forefront of our decision making,” said Hugh Cherne, Associate Director of Environmental Sustainability at Best Buy.

By Best Buy Company News

22 Mar: Here’s How Curbside Pickup Works At Best Buy To Get Your Tech Essentials

We know our customers depend on Best Buy for the technology necessities valuable during this time when people need to stay home because of the coronavirus (COVID-19) outbreak. That’s why we’re adapting to a new way of making our stores accessible while keeping things safe for our customers and employees: contactless curbside pickup.

As of Sunday, March 22, customers are no longer allowed inside Best Buy stores. Our employees, however, will bring products ordered on BestBuy.com, through our app or over the phone, out to vehicles.

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