Company News

Most Responsible Company Award Story

07 Dec: Best Buy makes Newsweek’s 2023 Most Responsible Companies list

Best Buy is proud to be named to Newsweek’s list of America’s Most Responsible Companies for the fourth year in a row.

Newsweek compiles this list in partnership with Statista to recognize the 500 most responsible companies in the U.S. across 14 industries. It’s based on publicly available environmental, social and governance data and an independent survey of U.S. residents.

Our individual environmental score was also 92.50, making us the top retailer in that category. We earned an overall score of 76.90 out of 100, ranking No.

Best Buy x Banijay

06 Dec: Best Buy, Banijay partner for career development initiative in Hollywood

A new partnership between Best Buy Foundation and Banijay Americas, a division of Banijay, the world’s leading producer and distributor of international content, is set to launch early next year, creating an entertainment industry career development program for youth from disinvested neighborhoods across Los Angeles.

Through the career development program, Banijay Americas will collaborate to develop a TV production curriculum tailored to participants at Best Buy Teen Tech Centers®, a Best Buy Foundation program that connects youth with the latest cutting-edge technology, mentoring and career training.

virtual-store blog

28 Nov: Best Buy’s new virtual shopping experience brings expert advice to your fingertips

The holiday shopping season has officially begun, and our expert Blue Shirts are standing by, ready to guarantee that you’ll make the nice list this year.  

The next time you’re shopping in a Best Buy store, on BestBuy.com, or scrolling through the Best Buy app, you can quickly and conveniently connect live with our experts located in our virtual store through chat, video or audio call to get a little extra guidance.  

What is the virtual store?  

What started last fall as a pilot is now a nearly 40,000 square foot studio-like space we call our virtual store.

Experience Store Blog

25 Nov: Best Buy opens more than 40 new Experience Stores ahead of holidays

The ultimate inspirational shopping experience is now rolling out at select Best Buy stores across the country — just in time for the holiday shopping season. 

Our new Experience Store concept serves as an inspirational destination to help customers discover, learn about and use the latest tech. From immersive demo areas to our newest product categories, these stores offer something for everyone. It’s one of the many ways we’re reimagining our stores to meet our customers’ changing needs. 

We first began testing the new store format in Houston in 2020 and later added additional pilot locations, including one in Charlotte, North Carolina.

BBY Q3 FY23

22 Nov: Best Buy reports Q3 FY23 results

Comparable Sales Declined 10.4%

GAAP Diluted EPS of $1.22

Non-GAAP Diluted EPS of $1.38

Raises Full-Year Guidance

Resumes Share Repurchases

MINNEAPOLIS, November 22, 2022 — Best Buy Co., Inc. (NYSE: BBY) today announced results for the 13-week third quarter ended October 29, 2022 (“Q3 FY23”), as compared to the 13-week third quarter ended October 30, 2021 (“Q3 FY22”).

Click here to view full release and statements.

  Q3 FY23  Q3 FY22
Revenue ($ in millions)
Enterprise$10,587$11,910
Domestic segment$9,800$10,985
International segment$787$925
Enterprise comparable sales % change1(10.4)%1.6%
Domestic comparable sales % change1(10.5)%2.0%
Domestic comparable online sales % change1(11.6)%(10.1)%
International comparable sales % change1(9.3)%(3.0)%
Operating Income  
GAAP operating income as a % of revenue3.4%5.6%
Non-GAAP operating income as a % of revenue3.9%5.8%
Diluted Earnings per Share (“EPS”)  
GAAP diluted EPS$1.22$2.00
Non-GAAP diluted EPS$1.38$2.08

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

131BestBuyRidgedale.jpg

14 Nov: Here’s how Best Buy is making it easy to recycle your old tech

November 15 is America Recycles Day. Celebrate by bringing your old electronics to Best Buy, the largest retail collector of e-waste in the United States. 

We established our recycling program in 2009 and have since recycled more than 2 billion pounds of electronics and appliances. In addition to our recycling efforts, we’ve also pledged to be carbon neutral across our business by 2040.  

This year, we took steps towards making the recycling process even easier for our customers by adding our Standalone Haul-Away service.

Best Buy Logo

09 Nov: Best Buy makes Forbes’ Best Employers for Veterans 2022 list

We’re excited to announce that Best Buy was named to Forbes’ list of America’s Best Employers for Veterans 2022. This is our first time on the list.  

Forbes surveyed 7,000 U.S. veteran employees. Participants were asked to rate their employer on career development, diversity, and topics specific to veterans in the workplace, such as recruitment processes and pipelines. Companies were also evaluated on veteran representation in leadership roles and philanthropic efforts geared toward veterans.  

Support for veterans 

Veteran employees can find support at Best Buy through benefits, resources and community. 

ttc blog

07 Nov: Best Buy, Timberwolves and TCL team up for tech equity

Minnesota members of Best Buy Teen Tech Centers® will get a courtside view of the different types of technology careers that bring the Timberwolves and Lynx seasons to life, both on and off the court.

The Best Buy Foundation is partnering with the Minnesota Timberwolves and Lynx, and electronics company TCL, to advance tech equity and empower youth at Twin Cities Teen Tech Centers through career opportunities. The partnership with the Timberwolves and Lynx will give local Teen Tech Center members a behind-the-scenes look at how tech is used during each basketball game.

Forbes female friendly companies

02 Nov: Best Buy ranks 15th on 2022 list of World’s Top Female-Friendly Companies

Best Buy is proud to rank No. 15 on Forbes’ 2022 list of the World’s Top Female-Friendly Companies, which recognizes companies that support women at and outside of the workplace.  

This is our second time on the list. We are one of four retailers in the top 15 spots, and we’re one of seven U.S. companies in the top 20. 

Forbes teamed up with market research company Statista to survey 85,000 women in 36 countries. Respondents were asked to rate their employers on criteria such as pay equity, parental leave and opportunities for advancement.

BBY_Blog_AppleUpgradePlus

24 Oct: Best Buy launches exclusive Upgrade+ program for Mac laptops

New program makes it easy and affordable for customers to experience and upgrade to the latest Mac laptops.

MINNEAPOLIS, October 24, 2022 — Best Buy is offering a first-of-its-kind upgrade program called Upgrade+ powered by Citizens Pay®, making it easy and affordable for customers to experience and upgrade to the latest Mac laptops with Apple silicon, including MacBook Air and MacBook Pro.  

Through Upgrade+, customers can apply for financing to purchase a new Mac laptop with affordable payments spread across 36 months before deciding if they want to upgrade to a newer device in month 37.

St Jude blog

20 Oct: Best Buy joins St. Jude for 10th year to fight childhood cancer

For the 10th holiday season in a row, Best Buy is joining the fight against childhood cancer and other life-threatening diseases as part of the St. Jude Thanks and Giving® campaign.  

Starting this month, we’re asking our customers to consider giving to St. Jude Children’s Research Hospital® when making purchases in stores or online. Every dollar donated will not only help with research, but also ensure families never receive a bill from St. Jude for treatment, travel, housing or food.  

Introducing The New Lively Health & Safety Packages blog

18 Oct: Introducing the new Lively health & safety packages

Best Buy Health’s goal is to enable care at home by building on our strengths in three focal areas, one of which is active aging. We are empowering an aging generation to live the life they want by delivering simple, human-supported health and safety solutions. 

Last year, we launched our new Lively brand, which offers solutions to support adults who want to age independently at home, whether that be through our Jitterbug phones, our medical alert devices, our health & safety services or our offerings through Amazon Alexa and Apple Watch.