Company News

19 Jun: Best Buy sets first goal to help consumers reduce carbon emissions and save billions on utilities as it commits to further reduce its own carbon use

MINNEAPOLIS – (June 19, 2019) – After reducing its carbon emissions more than 50 percent, Best Buy is committing to achieve an even greater impact. For the first time, the company has set a goal to help consumers reduce their carbon emissions by 20 percent* and save $5 billion on utility costs by 2030, while it works to decrease its own emissions 75 percent** over the same period.

The new goals were announced today by Best Buy at the Circularity19 conference in Minneapolis and are included in its latest Corporate Responsibility and Sustainability Report.

By Best Buy Company News Sustainability

19 Jun: After collecting 2 billion pounds of e-waste, Best Buy expands recycling program

Best Buy has helped our customers recycle 2 billion pounds of electronics and appliances since 2009, and now we’re making it easier than ever to get rid of your old devices.

Our Geek Squad Agents and In-Home Advisors, who make house calls to provide consultations and other tech-support services, will now offer to take items with them to be recycled. They’ll take cables and cords, Wi-Fi gear, audio equipment and other items that don’t contain personal data — all to help you declutter safely and conveniently.

By John Vomhof Jr. Company News PR News Alerts

11 Jun: Corie Barry becomes fifth CEO in Best Buy history

There’s a new boss at Best Buy.

On Tuesday, Corie Barry becomes the fifth CEO in the company’s 53-year history. She replaces Hubert Joly, who led the company through a successful turnaround over the past seven years and will now become executive chairman as part of a planned leadership transition.

A Minnesota native, Corie has been with Best Buy for 20 years, most recently serving as the company’s chief financial and strategic transformation officer. She has been a member of the executive team for the past four years, playing a critical role in developing the company’s growth strategy.

By John Vomhof Jr. Company News

10 Jun: Hubert Joly leaves a lasting legacy as Best Buy CEO

In 2012, Best Buy was struggling. Sales and profits were declining, the stock price was plummeting and pundits were predicting the company’s demise.

But then, in what would be a major turning point in Best Buy’s history, the company hired Hubert Joly as CEO. Over the next seven years, he led the company through our successful Renew Blue transformation, which resulted in improved customer satisfaction, market share gains, revenue growth and improved margins.

Now, Hubert is moving into the newly created role of executive chairman as part of a planned leadership transition.

By John Vomhof Jr. Company News

29 May: Best Buy executive wins prestigious Canadian retail award

Ron Wilson, Best Buy’s president of international, received the prestigious 2019 Distinguished Canadian Retailer of the Year award from the Retail Council of Canada (RCC) on Tuesday night.

The award recognizes a retail leader who has led his or her company to outstanding business success and innovation, as well as consistently demonstrated community commitment and support.

“RCC is excited to recognize Ron Wilson for his continued success in an ever-changing retail sector, for his leadership at Best Buy Canada and for supporting schools in building students’ confidence and creativity — qualities that open doors to future possibilities,” RCC President and CEO Diane Brisebois said in a press release announcing the award.

By Best Buy Company News Diversity and Inclusion Sustainability

24 May: Creating a culture of inclusion at Best Buy

At Best Buy, celebrating Pride stretches beyond the celebrations in June. It means more than raising awareness and support for LGBTQ+ employees and people in the communities we serve. It means creating a culture of inclusion where everyone feels welcome and accepted. From coast to coast, here are unique stories from some of our people who are helping do just that.

In Seattle, employees celebrate Pride year-round

When Best Buy opened its Seattle Technology Development Center in 2015, office manager Kathryn Kelley saw a need to drive employee engagement there.

By Chris Havens Company News Diversity and Inclusion Sustainability

24 May: At Best Buy, Pride is part of our business

We have a motto at Best Buy: You can be yourself here.

We want to create a culture that’s inclusive, embraces people’s differences and reflects our customer base.

That means creating a welcoming and supportive environment for lesbian, gay, bisexual, transgender and queer (LGBTQ+) employees. We do that through employee groups, benefits and resources. And, with Pride Month in June, we celebrate with our employees, customers and communities.

“At Best Buy, we believe an inclusive environment allows our employees to bring their best selves forward.

By Best Buy Company News

23 May: Best Buy Reports Better-Than-Expected Q1 FY20 Earnings

Enterprise Comparable Sales Increased 1.1%

GAAP Diluted EPS Increased 36% to $0.98

Non-GAAP Diluted EPS Increased 24% to $1.02

MINNEAPOLIS, May 23, 2019 — Best Buy Co., Inc. (NYSE: BBY) today announced results for the 13-week first quarter ended May 4, 2019 (“Q1 FY20”), as compared to the 13-week first quarter ended May 5, 2018 (“Q1 FY19”).

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



	Q1 FY20		Q1 FY19
Revenue ($ in millions)
Enterprise	$	9,142	$	9,109
Domestic segment	$	8,481	$	8,412
International segment	$	661	$	697
Enterprise comparable sales % change¹		1.1%		7.1%
Domestic comparable sales % change¹		1.3%		7.1%
Domestic comparable online sales % change¹		14.5%		12.0%
International comparable sales % change¹		(1.2)%		6.4%
Operating Income
GAAP operating income as a % of revenue		3.7%		2.9%
Non-GAAP operating income as a % of revenue		3.8%		3.3%
Diluted Earnings per Share (“EPS”)
GAAP diluted EPS	$	0.98	$	0.72
Non-GAAP diluted EPS	$	1.02	$	0.82

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

By Best Buy Company News

14 May: Best Buy increases mental health resources to help employees

Warning: This post discusses depression and suicide.

Ric knew something was wrong when everything he used to love—like playing his guitar, listening to music and watching movies—started to feel off. Nothing clicked for him anymore. He felt stuck and was considering suicide.

“I had planned out different ways of doing it. I just wasn’t happy. I just felt like I wasn’t needed,” said Ric, a longtime Best Buy employee.

Thankfully, as his depression became unbearable, Ric reached out to his wife and she got him some help.

By Best Buy Company News

10 May: Mother’s Day blessings, thanks to Best Buy benefit

When Kate Hobbins was a little girl and people asked her what she wanted to be when she grew up, she’d tell them, “I want to be a regular mom.”

She laughs about it now — and this Mother’s Day, she’ll laugh even harder with 4-year-old daughter, Emilia, and 4-month-old son, Robert, in her arms. That’s because this year, with some help from Best Buy’s newly enhanced adoption-assistance program, she’s finally that “regular mom” she almost didn’t get to be.

“Sometimes I’ll text my husband that I just can’t believe that I can add the ‘s’ at the end of kid,” Kate said.

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