Company News

By Best Buy Company News Featured

25 Mar: Founder Richard Schulze Returns to Best Buy as Chairman Emeritus in Support of the Company’s Renew Blue Transformation Efforts

MINNEAPOLIS, March 25, 2013 — Best Buy and its Founder, Richard Schulze, announced today that Mr. Schulze is returning to the company as its Chairman Emeritus. In addition, Mr. Schulze has nominated Brad Anderson and Al Lenzmeier to serve on the Best Buy Board of Directors, pursuant to a previously disclosed agreement between the company and Mr. Schulze.

“Over the past several months, I have come to know and respect Hubert, and have a high regard for the work he and his executive team are doing to revitalize Best Buy for the benefit of all stakeholders,” said Schulze.

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By Best Buy Company News Featured

20 Nov: Best Buy Confirms Significant Decline in Fiscal Third Quarter 2013 Earnings

MINNEAPOLIS, November 20, 2012 – Best Buy Co., Inc. (NYSE: BBY) today announced a GAAP net loss from continuing operations of $13 million, or $0.04 per share, for the three months ended November 3, 2012 compared to net earnings from continuing operations of $173 million, or $0.47 per diluted share for the prior-year period. Excluding previously announced restructuring charges, adjusted (non-GAAP) net earnings from continuing operations for the third quarter of fiscal 2013 were $10 million, or $0.03 per diluted share compared to $173 million and $0.47 for the prior-year period.

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By Best Buy Company News

08 Nov: Best Buy Employees Honor Veterans’ Day by Preparing Holiday Care Packages for the Troops

MINNEAPOLIS, November 8, 2012 – Thousands of care packages to be shipped overseas for the holiday season

WHO: As part of Best Buy’s continued support for the military, Best Buy employees at the Best Buy headquarters in Richfield, Minnesota will observe Veteran’s Day early by packing up more than 3500 holiday gifts for the troops serving in Iraq and Afghanistan.

WHAT: The Best Buy program, Operation Patriotic Endeavor, was created in 2011 by members of Best Buy’s Military Employee Business Network as another way for employees to give back to the troops.

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By Best Buy Company News Sustainability

02 Nov: Best Buy Debuts Exclusive Insignia LED Light Bulb With Improved Features for Easier Adoption of LED Lighting

MINNEAPOLIS, November 2, 2012 – Best Buy Co., Inc. (NYSE: BBY), the industry leader in consumer electronics, today announced a new LED light bulb. Powered by Cree, Inc. (Nasdaq: CREE) LEDs, the new bulb is designed with improved features to make adoption of LED lighting easier for consumers. The Insignia LED bulb, available exclusively at Best Buy, was developed in partnership with local Twin Cities inventor, Dave Carroll, and offers distinct advantages over existing LED bulbs on the market today.

Unlike other LED bulbs, the Insignia LED light bulb looks like a traditional incandescent light bulb, a familiar bulb shape for consumers, and provides a more ambient, omni-directional light.

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By Best Buy Company News

04 Sep: Joly starts first official day as President, Chief Executive Officer of Best Buy

RICHFIELD, Minn.  September 4, 2012 – Best Buy Co., Inc. has announced that today is Hubert Joly’s first official day as President and Chief Executive Officer of the company. Joly, appointed to his position August 20, 2012 by the Board of Directors, will spend his first week on the job working as a Blue Shirt in several Best Buy locations in the Minneapolis-St. Paul area.

“Best Buy is a company with an amazing history, enormous assets and great opportunities,” Joly said.

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