Company News

By John Vomhof Jr. Company News

30 Aug: Best Buy Express vending machines turn 10

If you’ve traveled through a major airport, chances are you’ve spotted a Best Buy Express.

These kiosks sell electronics much like how traditional vending machines dispense chips and candy bars. Just select the item you want, then swipe your credit card.

It’s all about being there for our customers when and where they need us. We have approximately 200 Best Buy Express locations nationwide, about 80 percent of which are inside airports.

“The biggest complaints people have about shopping at an airport are related to getting gouged on price and not knowing who they’re buying from,” said Betsy Maus, Best Buy’s associate director of automated retail.

By Best Buy Company News PR News Alerts

28 Aug: Best Buy Reports Better-than-Expected Q2 FY19 Results

Enterprise Comparable Sales Increased 6.2%

GAAP Diluted EPS Increased 28% to $0.86

Non-GAAP Diluted EPS Increased 32% to $0.91

Raising FY19 Financial Guidance

MINNEAPOLIS, August 28, 2018 — Best Buy Co., Inc. (NYSE: BBY) today announced results for the second quarter ended August 4, 2018 (“Q2 FY19”), as compared to the second quarter ended July 29, 2017 (“Q2 FY18”). The company reported Q2 FY19 GAAP diluted earnings per share of $0.86, an increase of 28% from $0.67 in Q2 FY18.

By Best Buy Company News

24 Aug: Interns reflect on a summer at Best Buy

With a new school year starting, Best Buy recently bid farewell to its largest, most diverse class of summer interns.

About 100 interns worked with teams across the organization, representing more than 35 colleges and over a dozen Best Buy stores.

Our program gives students insights into our business and culture. During the summer, interns had the opportunity to network with Best Buy executives and fellow interns, as well as volunteer within the community.

We sat down with three past interns to reflect on their experience with the program.

By John Vomhof Jr. Company News PR News Alerts

15 Aug: Best Buy acquires GreatCall, expanding reach in health space

Best Buy today announced we have agreed to acquire GreatCall Inc. in an $800 million deal that expands our reach in the large and growing health space.

GreatCall is a leading provider of connected health and personal emergency response services to the aging population, with more than 900,000 subscribers. It sells easy-to-use mobile phones and connected devices that provide a way for seniors to reach a medical professional at the touch of the button. That design allows aging consumers to live independently longer, while also providing peace of mind to their loved ones.

By John Vomhof Jr. Community Relations Company News PR News Alerts

31 Jul: Teens get a voice in new Best Buy awareness campaign

Martaize “Tez” Smith woke up early in the morning to practice his lines before the film crew arrived at his home in north Minneapolis.

The 15-year-old high school student is an aspiring filmmaker, but that day he was going to be on the other side of the camera. “I was a little nervous,” he said. “That was something I’ve never done before, but I’m a performer. That’s me. That’s who I am.”

Tez is one of three teens who star in a series of new digital videos that highlight the youth served by Best Buy’s Teen Tech Centers, which provide teens from underserved communities around the U.S.

By Best Buy Company News Exclude From Home Page

31 Jul: Youth in underserved communities receive boost from best buy

Teen Tech Center network grows to 21 year-round training locations;

Local communities receive additional $20 million in funding;

New public awareness campaign gives teens a platform for their stories

Minneapolis, July 31, 2018 – Best Buy announced today a campaign that will highlight teens from around the country who participate in the company’s Teen Tech Centers, a network of year-round programs designed to teach technology skills to youth living in underserved communities. This effort is part of a previously announced $20 million grant to the Best Buy Foundation to build out more than 60 of these centers and fund non-profit partners across the U.S.,

By Suzanne Hilker Company News Sustainability

25 Jun: Best Buy Reports on Sustainability Progress, Goals for 2020

Best Buy today released our latest Corporate Responsibility & Sustainability Report, including two new sustainability goals as part of our Best Buy 2020 growth strategy.

This report is where we annually share our commitments and progress in the areas of community, people and the environment. We have seen increased interest from consumers and investors for companies to make a positive impact on the world.

For Best Buy, sustainability has been a priority for more than a decade, and we are proud of our successes, which not only benefit our stakeholders but make good business sense too.

By Best Buy Company News

18 Jun: Best Buy volunteers are happy to help in their communities

You know Best Buy employees as the people who can help you pick out the perfect piece of tech. They’re also people who help in their communities, doing things such as tutoring students, serving food and even checking coats.

In the Cincinnati area, employees from the seven Best Buy stores there volunteer in big numbers. They help out at everything from museum fairs and youth symposiums to 5K races and after-school programs.

“There are no limitations on our volunteer programs,” says Brian Stevens, who’s the administrative assistant for the Best Buy market that includes Cincinnati.

By Best Buy Company News

24 May: Best Buy Reports Better-Than-Expected Q1 FY19 Results

Enterprise Comparable Sales Increased 7.1%

GAAP Diluted EPS Increased 20% to $0.72

Non-GAAP Diluted EPS Increased 37% to $0.82

MINNEAPOLIS, May 24, 2018 — Best Buy Co., Inc. (NYSE: BBY) today announced results for the first quarter ended May 5, 2018 (“Q1 FY19”), as compared to the first quarter ended April 29, 2017 (“Q1 FY18”). The company reported Q1 FY19 GAAP diluted earnings per share of $0.72, an increase of 20% from $0.60 in Q1 FY18. Non-GAAP diluted earnings per share for Q1 FY19 were $0.82, an increase of 37% from $0.60 in Q1 FY18.

By Best Buy Company News

10 May: Partnership creates new opportunities for diverse workforce

An organization that has worked with businesses for more than 30 years to support people with disabilities will be providing staffing for a national conference this spring, thanks to its partnership with Best Buy.

The Sustainable Purchasing Leadership Council (SPLC), which promotes sustainable purchasing best practices for organizations, will employ clients from Lifeworks Services to staff its May summit in Minneapolis.

Lifeworks got connected with SPLC through Best Buy, which it has worked with since 2003.

“We support job seekers of all abilities to be directly hired in the community,” says Ashley Oolman, Lifeworks business development consultant.

By John Vomhof Jr. Company News

09 May: Best Buy launches refreshed branding, logo

We’ve accomplished a lot at Best Buy over the past five years. The turnaround is over, and we’re focused on the future with our Best Buy 2020 growth strategy.

As we focus on enriching people’s lives through technology, we’re expanding what we sell and evolving how we sell it. And now our brand’s evolving, too.

Our new marketing strategy, which launches May 9, celebrates our new rallying cry: “Let’s talk about what’s possible.” It tells the story of our Blue Shirts and how we, as a company, aim to be an inspiring friend who helps customers understand what they want to do and how tech can help them achieve great, new things.

By Suzanne Hilker Community Relations Company News Sustainability

07 May: Best Buy Named to 100 Best Corporate Citizens List for Third Year

For the third year in a row, Corporate Responsibility Magazine has named Best Buy to its list of 100 Best Corporate Citizens.

The rankings are based on 260 data points, including environmental management, climate change, human rights, employee relations, corporate governance, philanthropy and financial performance.

Our position has steadily increased over the past three years, from 100 in 2016, to 72 in 2017 to 59 in 2018.

Being a good corporate citizen is not only the right thing to do, it’s good for business.

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