Best Buy is proud to rank No. 46 on the 2020 list of the 100 Best Corporate Citizens, moving up 21 spots from last year.
This list recognizes outstanding environmental, social and governance (ESG) transparency and performance among the 1,000 largest public companies in the U.S. Our ranking places us in the top 5% of all companies evaluated, and we ranked second in the retail category.
ISS ESG, the responsible investing research arm of Institutional Shareholder Services, compiled the list.
We are, I believe, in one of the toughest times in our country’s history, as we continue to battle a deadly pandemic and the resulting economic havoc while, once again, coming face-to-face with the long-term effects of racial injustice. Watching tens of thousands take to the streets to speak out against fear and inhumanity is, on one hand, inspiring for the commitment it represents and, on the other, heartbreaking for its profound need.
But what’s next? What do we do to change the cycle in which black men or women, with tragic frequency, are harmed by those who are supposed to protect them?
Another black man in America died senselessly on Monday, and it happened only miles from where many of us live. As cars and people passed by, unaware that a man was struggling to breathe as another’s knee was on his neck, our state and country witnessed yet another example of how the life of an African American man, woman, boy or girl is fundamentally different from their white friends, neighbors and colleagues.
All this happened on the same day another black man, this time in New York City, was threatened by a white woman who said she would call the police on him when he requested she leash her dog, as required by city ordinance.
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 15th 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.
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.
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.
Best Buy is committed to helping teens from disinvested communities build brighter futures, and that has only become more important during the COVID-19 pandemic.
That’s why we’re continuing to ensure teens and the organizations that serve them have access to the technology, training and mentorship they need to learn and grow. We’re doing that by donating millions of dollars in funding for local nonprofits and providing teens with the tech they need to stay connected during this time.
“Now, more than ever, we’re seeing technology is essential for helping young people learn and stay connected,” said Andrea Wood, Best Buy’s head of social impact.
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.
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
Robert Berry knows how to carry a tune.
After all, he grew up in a musical household. His mom was a classically trained concert pianist, his father was a Baptist preacher with a booming baritone vocalist, and he and his nine siblings all sang in the church choir. But that was years ago.
“We literally had not taken the time to sing together since our father’s funeral in 2008,” said Robert, who is a risk and compliance manager at Best Buy.
Like many of us, Robert wanted a way to connect with others amid the COVID-19 pandemic.
For the 7th 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.
Earlier this week, we announced changes to how Best Buy will run our business in light of the COVID-19 pandemic. Against this backdrop, I wanted to share some of my thoughts about what we’re facing and how Best Buy is responding.
Right now, our role as a consumer electronics retailer is rapidly shifting and we are striving to make the best decisions with two goals in mind: The first is to protect our customers, employees and their families. The second is to do the best we can to serve the millions of Americans who are looking to us for increasingly vital technology tools to stay connected, as well as household necessities.