Company News

Best Buy Logo

22 May: Best Buy Reports First Quarter Results

Non-GAAP diluted EPS from continuing operations of $0.33

GAAP diluted EPS from continuing operations of $1.31

$95 million in additional annualized Renew Blue cost reductions

  MINNEAPOLIS, May 22, 2014 — Best Buy Co., Inc. (NYSE: BBY) today announced results for the 13-week first quarter (“Q1 FY15”) ended May 3, 2014 as compared to the 13-week first quarter (“Q1 FY14”) ended May 4, 2013.

Revenue Q1 FY15 Q1 FY14
Revenue ($ in millions) $9,035 $9,347
Comparable sales % change1 (1.9%) (1.4%)
     Domestic Segment:
    Comparable sales % change (1.3%) (1.2%)
    Comparable online sales % change 29.2% 16.3%
     International Segment:
    Comparable sales % change (5.8%) (2.8%)


Operating Income Q1 FY15 Q1 FY14
GAAPoperating income as a % of revenue 2.2% 1.8%
Non-GAAPoperating income as a % of revenue2 2.3% 2.0%


Diluted EPS Q1 FY15 Q1 FY14
GAAP diluted EPS from continuing operations $1.31 $0.29
Impact of non-restructuring asset impairments 0.02 0.02
Impact of restructuring charges 0.01 0.01
Benefit of income tax effect of Europe legal entity reorganization (1.01) 0.00
Non-GAAP diluted EPS from continuing operations2 $0.33 $0.32

Hubert Joly, Best Buy president and CEO, commented, “This quarter reflects continued progress in our Renew Blue transformation.

16 Dec: James “biggcountry2” Bloomfield Wins Best Buy’s Ultimate Gamers Showdown


After a grueling head-to-head competition that was battled out on the largest high-definition video screen in the world, James “biggcountry2” Bloomfield is Best Buy’s Ultimate Gamers Showdown champion. Bloomfield won 24 – 21 over Ryan “Dougthepirate” Danczak in the final round of the Ultimate Gamers Showdown at AT&T Stadium in Arlington, Texas.


“There were tough competitors all around,” James Bloomfield said. “It was an amazing experience to be able to play on this big screen.”

The Ultimate Gamers Showdown is an exclusive national gaming tournament developed by Best Buy to give gaming and sports fans around the nation an opportunity to try the next generation gaming systems, in addition to having gamers put their Madden NFL 25® skills to the test.

25 Nov: Best Buy Supporting St. Jude Children’s Research Hospital® at All U.S. Stores

St. Jude

“We at Best Buy are honored to support the lifesaving work done at St. Jude every day by joining the St. Jude Thanks and Giving campaign this year,” said Sharon McCollam, chief administrative and chief financial officer at Best Buy. “We are thankful for the ability to give customers shopping in our more than 1,400 stores the opportunity to donate to an organization with the mission of finding cures for childhood cancer and other deadly diseases and most importantly, saving children’s lives.”

23 Oct: Best Buy Gets Top Recycling Honors


Best Buy received the first-ever eCycling Leadership Award from the Consumer Electronics Association. Best Buy was the only retailer and only one of four companies to receive the award, which recognizes consumer electronics companies that are recycling above and beyond any level mandated by government.

Best Buy has the most comprehensive appliance and electronics recycling programs in the U.S. We  recycle 409 pounds of electronics each minute our stores are open and customers can recycle their electronics and appliances for free at any Best Buy location nationwide – no matter how old it is or where it was purchased.

01 Oct: Best Buy Offers 10 Tips to Reduce Energy Consumption


How much energy do you consume? October is Energy Awareness Month and Best Buy is here to help you reduce your personal energy consumption and save money:

  • Know Your Energy Consumption. Awareness is the key and the U.S. EPA Home Energy Yardstick is a great way to find out where your home’s energy use is compared to similar homes and climates.
  • Find New Ways to Save Energy. The average home’s annual energy bill is $2,200 and energy-efficient products can save you money.

23 Sep: Best Buy Tops Retailers in Carbon Performance Rankings

Best Buy beat out all other retailers in the 2013 Standard & Poor’s 500 Index (S&P 500) Climate Change Report. The report ranks America’s largest companies’ actions to improving their impact on the environment. Best Buy received “Leadership” status for both performance and disclosure categories this year – the only retailer to receive both.

Best Buy has demonstrated its commitment to reducing its carbon footprint by using less energy in stores, finding more efficient ways to transport products, and reducing fuel used by Geek Squad vehicles.

12 Sep: Best Buy Named to Dow Jones Sustainability Index


Best Buy was named in the longest-running global sustainability rankings – the Dow Jones Index for Sustainable Investing. It measures company sustainability, which is how businesses operate socially, environmentally and economically. Best Buy increased its performance two points from last year and moved up the retail rankings from the 68th percentile to the 84th percentile. Compared with other retail companies in North America, Best Buy scored 20 points above the average.

The Index is the official sustainability performance ranking of the largest 600 North American companies.

20 Aug: Best Buy Reports Quarter 2 Earnings

Available in .pdf: Best Buy Reports Fiscal Second Quarter Results

Non-GAAP EPS from continuing operations of $0.32

GAAP EPS from continuing operations of $0.69

$65 million in additional Renew Blue cost reductions


MINNEAPOLIS, August 20, 2013 — Best Buy Co., Inc. (NYSE: BBY) today announced results for the second quarter (“Q2 FY14”) ended August 3, 2013, as compared to the second quarter (“Q2 FY13”) ended August 4, 2012.


Q2 FY14

Q2 FY13

Revenue ($ in millions)



Comparable store sales % change1



     Domestic Segment:
   Comparable store sales % change1



   Comparable online sales % change



     International Segment:
   Comparable store sales % change1




Operating Income, Diluted EPS and
Return on Invested Capital (ROIC)



Q2 FY14

Q2 FY13

Q2 FY14

Q2 FY13

Operating income as a % of revenue





Diluted EPS from continuing operations











Note: During Q2 FY14, the company reached legal settlements with multiple defendants under which it will receive a total of $229 million, net of litigation costs (approximately $30 million in cash was received in Q2 FY14, with the remainder to be received in installments over the next eight quarters).

06 Aug: Best Buy and Major League Soccer Hosting Windows Store Event in West L.A.

Join us for a day of fun, fitness and tech with Major League Soccer legend Cobi Jones, Clint Mathis and Mauricio Cienfuegos! Take away tips and tricks for how to stay fit this back to school season. Be one of the first 200 to demo Windows 8 between 3-5PM for a chance to win signed soccer balls and photos with Clint Mathis and Mauricio Cienfuegos! And the fun doesn’t stop there.

Come out for steals, deals, prizes, food, music and more!

20 Jun: Best Buy Releases Fiscal 2013 Corporate Responsibility & Sustainability Report


MINNEAPOLIS – June 20, 2013:  Best Buy is consistently recognized for its sustainability leadership by the retail and consumer electronics industries. With today’s release of the company’s Fiscal 2013 Corporate Responsibility & Sustainability Report, Best Buy further demonstrates its continued leadership role in positively impacting the world.

We hope you find this information useful. To view the full report, please visit

Media Contact:

Jeremy Baier

07 May: Best Buy Statement on the Passage in the US Senate of the Bipartisan Marketplace Fairness Act

MINNEAPOLIS – May 6, 2013 – Best Buy is encouraged by the passage of the Marketplace Fairness Act in the U.S. Senate and the clear bipartisan support the measure received. This legislation does not represent a new tax, rather it simply helps to ensure fair competition that ultimately benefits consumers and our communities. The current laws were put in place before the Internet or e-commerce even existed. Just as retail has evolved over the years, the tax code needs to evolve to reflect modern patterns in how consumers shop not by creating a new tax but by enforcing the laws already on the books.

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.