Company News

01 May: Best Buy Now Accepting Applications for Community Grants

Calling all teen-focused nonprofits! We’re looking for local partners who can help us reach our goal of helping prepare 1 million teens from underserved communities for tech-reliant jobs every year.

Our Community Grants program awards up to $10,000 to nonprofits across the country whose programs focus on tech education for teens outside of school. Programs should include hands-on learning opportunities and engage youth in experimenting and interacting with the latest technologies to build 21^st century skills.

We know every community’s needs are unique.

By Best Buy Company News PR News Alerts

18 Apr: Amazon and Best Buy Announce Exclusive Multiyear Partnership to Offer New Fire TV Edition Smart TVs

Amazon partners with Best Buy because of its industry-leading role in bringing the latest technology to millions of customers

Best Buy chooses Amazon Fire TV Edition for its innovative user experience combined with the intelligence of Alexa

SEATTLE & MINNEAPOLIS — April 18, 2018 — Amazon (NASDAQ: AMZN) and Best Buy (NYSE: BBY) today announced a collaboration to bring the next generation of Fire TV Edition smart TVs to customers in the United States and Canada. As a first step in the partnership, Best Buy will launch more than ten 4K and HD Fire TV Edition models from Toshiba and Insignia, beginning this summer.

By Best Buy Company News

05 Apr: Best Buy Statement on [24]7.ai Cyber Incident

Best Buy offers chat services for customers coming to us via their phone or computer. We, like many businesses, use a third-party for the technology behind this service and that company, [24]7.ai, told us recently that they were the victim of a cyber intrusion. Their information suggests that the dates for this illegal intrusion were between Sept. 27 and Oct. 12, 2017. [24]7.ai has indicated that customer payment information may have been compromised during that time and, if that were the case, then a number of Best Buy customers would have had their payment information compromised, as well.

By Best Buy Company News

03 Apr: Best Buy Statement on Tariff List

We applaud the Administration’s desire to ensure that our trade partners are using fair practices. We look forward to the opportunity to share our thoughts on the proposed list of products and on how to make sure these measures do not inadvertently hurt millions of American families, students, small businesses, and schools by causing them to pay more for the consumer electronics they rely on every day.

By Suzanne Hilker Company News Sustainability

02 Apr: Energy Star Honors Best Buy For 5th Year

What does it mean when you see the ENERGY STAR® logo on a product? The little blue sticker means the item meets the highest standards of energy efficiency, set by the U.S. Environmental Protection Agency (EPA).

At Best Buy, we like this logo because it helps us identify sustainable products for our customers, helping them save energy and money on their utility bills.

Because of our dedication to educating customers and offering a wide variety of ENERGY STAR certified products, the EPA has named Best Buy a Retail Partner of the Year for the fifth year in a row.

By Jessica Moes Company News Geek Squad Lifestyle

30 Mar: Creative Planning Gets Geek Squad Academy to Hawaii

Almost three years of careful planning and outreach paid off this week as 160 students at an elementary school in Hawaii enjoyed their first interaction with a Geek Squad Academy (GSA).

Students got to program robots, write code and more with the help of Best Buy and Geek Squad volunteers.

“You could just feel the excitement and energy when the kids entered the room,” said James Pineda, a Geek Squad Agent at Best Buy’s Honolulu store who helped lead robotics classes.

By Natalie Albers Company News

29 Mar: Best Buy Employees Bring Tech Fun, $20 Million to St. Jude

If you shopped at Best Buy over the holiday season and gave to the St. Jude Thanks and Giving® campaign, this one’s for you. The dollars generously donated in our stores and online stacked up to a new record, and this week we were honored to donate $20 million to St. Jude on your behalf.

Best Buy employees and leaders from around the country traveled to St. Jude Children’s Research Hospital® in Memphis, Tennessee, to present the money, tour the family-focused facility, meet patients, and see miracles in the making.

By Best Buy Company News PR News Alerts

22 Mar: Best Buy Appoints Richelle Parham to Best Buy Board of Directors

MINNEAPOLIS, March 22, 2018 – Best Buy Co., Inc. (NYSE:BBY) today announced that Richelle Parham has been appointed to its Board of Directors, effective immediately.

Parham is a general partner at Camden Partners Holdings, a Baltimore-based private equity firm focused on providing growth and seed capital to lower-middle-market companies in technology, business services, education and health care.

Parham is a seasoned executive with more than 25 years of global strategy and marketing experience. Prior to joining Camden Partners Holdings in 2016, she served as vice president and chief marketing officer of eBay.

By Suzanne Hilker Company News Sustainability

07 Mar: Best Buy is Bringing Home the (Sustainability) Hardware

It’s not just actors and athletes bringing home trophies and medals this season. Companies are being lauded for their sustainability performance, as well.

At Best Buy, sustainability has been a longtime focus. Even during our business transformation, we never wavered on our commitment to invest in programs that reduce our environmental impacts and help our customers live more sustainably.

We are thrilled to have been recognized recently by three highly respected organizations for our sustainability efforts:

We were ranked No. 3 on Barron’s 100 Most Sustainable Companies.

By Suzanne Hilker Community Relations Company News Sustainability

05 Mar: Best Buy Announces 2018 National Grant Recipients

Best Buy recently set a lofty goal: to prepare 1 million teens from underserved communities for tech-reliant jobs each year by 2020.

We know this work is key, not only to help solve a skills gap, but to build a diverse talent pipeline for Best Buy and our partner companies. However, we can’t accomplish it alone. That’s why we’re partnering with nonprofits focused on tech education who can help us make a greater collective impact.

This year, we are investing nearly $1.5 million in our National Grants Program, funding nine strategic partners who provide curriculum and programming for our new Career Pathways program.

By Best Buy Company News

01 Mar: Best Buy Reports Better-Than-Expected Q4 Results

Enterprise Comparable Sales Increased 9.0%

GAAP Diluted EPS of $1.23

Non-GAAP Diluted EPS of $2.42

Announces FY19 Non-GAAP Diluted EPS Guidance of $4.80 to $5.00

Increases Quarterly Dividend 32% to $0.45 per Share

MINNEAPOLIS, March 1, 2018 — Best Buy Co., Inc. (NYSE: BBY) today announced results for the 14-week fourth quarter (“Q4 FY18”) and 53-week year ended February 3, 2018 (“FY18”), as compared to the 13-week fourth quarter (“Q4 FY17”) and 52-week year ended January 28, 2017 (“FY17”). The company reported Q4 FY18 GAAP diluted earnings per share from continuing operations of $1.23, which included the negative impact from items related to the Tax Cuts and Jobs Act of 2017 (“tax reform”) of approximately $1.17 in diluted earnings per share.

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