Company News

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08 Mar: St. Jude visit offers Best Buy leaders a dose of hope

The anticipation of visiting a hospital for sick children can stir a range of emotions. Best Buy General Manager Derek Muller expected a heartbreaking experience of seeing kids fighting cancer and other diseases. Instead, on a tour of St. Jude Children’s Research Hospital ® in Memphis, he saw hope.

“The children were all laughing and smiling and doing what kids their age should be doing — being kids,” he said. “I am so thankful for being able to be a part of this, to see what St.

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05 Mar: Gender equality is a priority at Best Buy

In the U.S., women make up 51 percent of the population. Yet across the country, men hold a disproportionate share of senior-level roles in companies.

Best Buy is working hard to change that — at all levels of our business. Through recruiting and hiring, mentoring programs and resources, we’re creating a culture of gender equality.

“In growing transformational leaders, our commitment to diversity delivers shared success for our company and communities,” said Hubert Joly, Best Buy’s chairman and CEO.

That commitment is not only the right thing to do, it’s good for business.

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05 Mar: Why Best Buy’s employee training program is world class

Customers don’t just come to Best Buy for the latest tech. They come for our knowledgeable employees who can provide expert service to help them find the right products and solutions that meet their needs.

It doesn’t happen by chance. Last year, our employees participated in millions of hours of training in classrooms and online. Sessions range from new-hire orientations to product knowledge to leadership development.

We’ve built a reputation as an industry leader for our efforts. We just ranked No.

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04 Mar: ‘It’s a chance for there to be more of us’

We’re celebrating Women’s History Month at Best Buy, and our company is focused on creating gender parity at all levels. From local stores to our corporate campus and beyond, we talked with inspiring women to learn about their philosophies on building a career, thriving in it, learning to lead and facing fears.

On career:

Kathy Higgins Victor, Best Buy Board member

“Embrace disappointments. Don’t let them knock you down or get in your way. Lean in and push past them. What doesn’t kill you, makes you better.”

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04 Mar: Best Buy beats own record to be top fundraiser for St. Jude campaign

 

Best Buy customers and employees donated $20.8 million in stores and online to help end childhood cancer and other life-threatening diseases.

 

(MINNEAPOLIS, MARCH 4, 2019) – For the third consecutive year, Best Buy finished as the top fundraising partner in St. Jude Children’s Research Hospital’s® annual Thanks and Giving® campaign. Best Buy set a new record for itself, raising $20.8 million over the holiday season to help in the fight against childhood cancer and other life-threatening diseases.

“What makes Best Buy so special is that we are a company with a great big heart.

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28 Feb: Best Buy rolls out paid time off for part-time employees

Zach Ward is a planner. The full-time college student and part-time Geek Squad Agent has to be to avoid any scheduling conflicts.

“I love my job and want to be here for my team, so I work really hard to balance that with my classes,” said Zach, who lives in Milwaukee. Still, sometimes he worries when homework and finals start to pile up. Thanks to Best Buy’s new paid time off (PTO) benefit for part-time employees, Zach can breathe easier.

Starting this month, part-time employees who have worked for the company for at least a year can receive up to 16 hours of paid time off a year.

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27 Feb: Best Buy Reports Better-Than-Expected Q4 FY19 Earnings

Enterprise Comparable Sales Increased 3.0%

GAAP Diluted EPS Increased 119% to $2.69

Non-GAAP Diluted EPS Increased 12% to $2.72

Announces FY20 Non-GAAP Diluted EPS Guidance of $5.45 to $5.65

Increases Quarterly Dividend 11% to $0.50 per Share

 

MINNEAPOLIS, February 27, 2019 — Best Buy Co., Inc. (NYSE: BBY) today announced results for the 13-week fourth quarter ended February 2, 2019 (“Q4 FY19”), as compared to the 14-week fourth quarter ended February 3, 2018 (“Q4 FY18”).

The company estimates the extra week in Q4 FY18 added approximately $760 million in revenue and approximately $0.20 in non-GAAP diluted EPS for the quarter and the year.

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26 Feb: Best Buy joins list of world’s most ethical companies

Best Buy is thrilled to be one of two U.S. retailers to be recognized as one of the 2019 World’s Most Ethical Companies by Ethisphere Institute, a global leader in ethical business practices.

The honor signifies leadership in building a corporate culture of ethical behavior, while empowering employees and acting as a good corporate citizen. Ethics at Best Buy starts with our purpose: to enrich lives through technology.

We bring our purpose to life through our company values, which are the foundation of Best Buy.

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20 Feb: Best Buy helps Seattle teens find career paths in tech

The Best Buy Foundation recently launched a branch of its organization called the Seattle Fund.

The Seattle Fund was formed to provide grants to nonprofit organizations in the King County metro area that offer career pathways in technology for teens from underserved communities. The first round of grant recipients was announced recently. These organizations, along with help from Best Buy, are strengthening the access to technology and education for young adults.

Here’s a bit more about the organizations that received funding:

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12 Feb: Best Buy continues support for DACA recipients

Best Buy Chairman and CEO Hubert Joly signed on to a letter Monday with more than 100 business and industry leaders continuing the company’s support for “Dreamers.” They’re the approximately 800,000 undocumented young adults who are allowed to live and work in the United States under the Deferred Action for Childhood Arrivals (DACA) program.

The letter calls for Congress “to act immediately and pass a bipartisan, permanent legislative solution to enable Dreamers who are currently living, working and contributing to our communities to continue doing so.”

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11 Feb: Barron’s names Best Buy most sustainable company in U.S.

At Best Buy, we’re proud of the hard work we do to positively impact our communities, people and the environment. And we’re excited that others are taking notice.

Barron’s has named Best Buy No. 1 on its list of the 100 Most Sustainable Companies for 2019. We ranked third when the publication’s inaugural list came out last year.

“Sustainability is embedded in everything we do,” Best Buy Chairman and CEO Hubert Joly said. “It starts with the company’s philosophy to contribute to the common good and our purpose to enrich lives through technology by addressing key human needs.”

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08 Feb: Black History Month: Leaders make a difference at Best Buy, in tech industry

At Best Buy, we’re committed to embracing diversity and building a company that reflects our customers and the communities in which we serve.

In that spirit, we’re highlighting three black business leaders during Black History Month.

Here are their stories. 

Temeka Penick: Leading in the community

Temeka Penick grew up in an impoverished West Oakland, California, neighborhood where violence and drugs were all too prevalent.

But she was determined to not let that define her. She focused on her education, did well in high school and went on to college.