Company News

Academy Awards

15 Jan: Get Properly Prepared for the Academy Awards

Your mom won’t stop talking about it. Your boss won’t stop talking about it. Even that guy you met on Tinder won’t stop talking about it. The 87th Academy Awards are so close you can almost taste them.

Whether you caught cinema fever or you’re just in the mood for binge-watching great movies all weekend, Best Buy is here to help you get properly prepared for the biggest night in film as Oscar nominations were just announced today.

Want to see what the fuss is all about?  

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15 Jan: Best Buy Reports Increase in Holiday Revenue

Enterprise revenue increased 2.1%

Domestic comparable sales increased 2.6%, excluding the

benefit of mobile phone installment billing

 

MINNEAPOLIS — Jan. 15, 2015 — Best Buy Co., Inc. (NYSE: BBY) today announced revenue results for the nine weeks ended January 3, 2015, as compared to the nine weeks ended January 4, 2014, excluding revenue from the Five Star business in China. As announced on December 4, 2014, the company entered into a definitive agreement for the sale of its Five Star business in China and expects to include its results in discontinued operations beginning in Q4 FY15.

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09 Jan: Protect Your Tech Gear from the Winter Elements

For many of us, the polar vortex is back. Not a fan of the frigid temps? You’re not alone – chances are your tech gear feels the same way.

Drastic changes in temperature – as you switch between indoors and outdoors – can do some damage to screens and other parts of your gadgets. Be proactive and keep your gear safe and happy this winter with these tips from Geek Squad: 

Do:

  1. Use a protective case for your gear: Most of us keep our cell phones in our pockets or purses, which lowers the chance of harm, but it’s always better to be safe than sorry.

07 Jan: New Year’s Resolutions Made Easy with Wearable Tech

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Have you made your New Year’s resolution yet? There’s a good chance it includes exercise. According to a University of Scranton study, getting fit is consistently one of the top five most common resolutions but only eight percent of us are successful in keeping them. Since resolutions are hard to stick to, Best Buy has a ton of wearable tech options that will keep you on track into the rest of 2015.

By now, you’ve probably seen or heard about a number of new wearable devices, including activity trackers.

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04 Dec: Best Buy to Sell its Five Star Business in China

MINNEAPOLIS –  Dec. 4, 2014 –  Best Buy Co., Inc. (NYSE:BBY) today announced that it has entered into a definitive agreement for the sale of its Five Star business to the Jiayuan Group, a prominent China-based real estate firm led by Chairman Yuxing Shen. This sale does not affect Best Buy’s private label operations in China.

“Over the last two years we have worked to improve our business in China and are proud of the progress we have made there,” said Hubert Joly, president and chief executive officer of Best Buy.

28 Nov: 5 Cyber Monday Tips: Keep Your Digital Data Safe

Online shopping has become a popular trend during the holiday season, for obvious reasons. Why go to the store when you can shop in your PJs? Although super convenient, this option can potentially put your personal information at risk.

Here are five great safety tips to help you get that special gift delivered to your door and avoid a bill filled with fraudulent charges.

  1. Secure that network. A secure connection to the Internet is key in preventing unauthorized access to your information.
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20 Nov: Best Buy Announces Fiscal Third Quarter Results

Non-GAAP diluted EPS from continuing operations of $0.32

GAAP diluted EPS from continuing operations of $0.30

$65 million in additional annualized Renew Blue cost reductions, bringing the cumulative total to $965 million

 

MINNEAPOLIS, November 20, 2014 — Best Buy Co., Inc. (NYSE: BBY) today announced results for the 13-week third quarter (“Q3 FY15”) ended November 1, 2014, as compared to the 13-week third quarter (“Q3 FY14”) ended November 2, 2013.

 

Revenue Q3 FY15 Q3 FY14
Revenue ($ in millions) $9,380 $9,327
Comparable sales % change1,2 2.2% 0.3%
       Domestic Segment:
   Comparable sales % change 3.2% 1.8%
   Comparable online sales % change 21.6% 15.1%
       International Segment:
   Comparable sales % change (3.0%) (6.4%)

 

Operating Income Q3 FY15 Q3 FY14
GAAP operating income as a % of revenue 2.0% 1.0%
Non-GAAP operating income as a % of revenue3 2.2% 1.4%

 

Diluted EPS Q3 FY15 Q3 FY14
GAAP diluted EPS from continuing operations $0.30 $0.12
Impact of non-restructuring asset impairments $0.01 $0.02
Impact of restructuring charges $0.02 $0.06
Impact of gain on sale of investments ($0.01) ($0.01)
Benefit of income tax impact of Best Buy Europe sale $0.00 ($0.01)
Non-GAAP diluted EPS from continuing operations3 $0.32 $0.18

 

Hubert Joly, Best Buy president and CEO, commented, “In the third quarter, our teams delivered positive comparable sales, improved profitability and continued progress in our Renew Blue transformation.

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10 Nov: Learning New Family Tech with Geek Squad at Engadget Expand

A piano made out of bananas. A Play-Doh Tetris game. A whisk and pie-tin drum set.

Visitors to the Engadget Expand event in New York City over the weekend got a chance to experience unique technology for the family at an exhibit staffed by local Geek Squad Agents and Best Buy Blue Shirts.

Geek Squad was there to show visitors some cool – and fun – things that can be done with technology, and show off Geek Squad Academy, which seeks to inspire young people through technology.

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03 Nov: Best Buy Welcomes New Member to its Board of Directors

MINNEAPOLIS – Nov. 3, 2014 – Best Buy Co., Inc. announced today the appointment of J. Patrick Doyle to its Board of Directors. Doyle is the president and chief executive officer of Domino’s Pizza, the world leader in pizza delivery and the second largest pizza company in the world.

Doyle, 51, joined Domino’s Pizza in 1997, serving in a variety of leadership roles across its domestic and international businesses. He has been president and chief executive officer of Domino’s since March 2010.

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30 Oct: See How ‘Connected Home’ Products Alleviate Everyday Frustrations

Although the “Connected Home” space can be a little intimidating for those of us who aren’t self-proclaimed tech gurus, these products are designed to simplify your everyday life.

Keeping that in mind, Best Buy has started rolling out Connected Home sections to more than 400 stores across the country so that customers are able to see some of this exciting new technology in action. All of the stores will be completed in time for holiday shopping.

But before you head to your local store to play with the hands-on demos, here’s a heads up on a few of the high-tech products and associated features that can make your life easier and provide peace of mind:

Home Automation:

  • Honeywell Lyric smart thermostat – This thermostat is equipped with geofencing technology where your thermostat will turn off when you leave your home and turn back on once you’re within a five mile radius
  • Nest smart thermostat – This thermostat learns your habits and patterns to accommodate your lifestyle while also saving energy and money in the process.
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28 Oct: A Few Tips for the House, On the House

Last year, Best Buy’s U.S. customers purchased more than 20 million ENERGY STAR® certified products, saving them upwards of $76 million in energy costs. That’s the carbon emission equivalent of taking 98,000 cars off the road. Seeing as October is Energy Awareness Month and chillier days aren’t far behind, here are a few tips for saving both energy and money.

  • Install a programmable thermostat in your house, which allows you to adjust the temperature when you’re not home
  • When shopping for a new TV or appliance, look for the ENERGY STAR mark to find the most energy-efficient products
  • Wash your laundry with cold water – your clothes will be just as clean
  • Replace old light bulbs with new energy-saving LEDs, which save up to $100 over the lifetime of the bulb
  • Use a “smart” power strip to avoid standby power – the energy used by some products when they are turned off but still plugged into a power/wall outlet
  • Disable “instant on” and “standby” modes when you are not using your gaming console

Products for your home that enable you to help manage your energy consumption, secure your home and do it all at the push of a button are available online at Connected Home on BestBuy.com,