Company News

By Kevin Flanagan Company News PR News Alerts

27 Jan: Best Buy Manager Scores Front-Row Reporting Seats to NASA Rocket Launch

James Quandahl’s love of technology and passion for inspiring others helped him score a spot to watch and report on a NASA rocket launch this week. Seriously.

Quandahl, 27, is the Best Buy assistant manager at the Farmington Hills, Michigan, store and he’s also one of 50 social media reporters whose application to cover a satellite launch at the Vandenberg Air Force Base in southern California was approved by NASA. For two days this week, James will be live-tweeting his front-row seat experience of the event — follow him on @JamesQuandahl.

By Kevin Flanagan Company News PR News Alerts

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 87^th 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?

By Best Buy Company News PR News Alerts

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.

By Best Buy Company News PR News Alerts

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:

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.

By Best Buy Company News

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

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.

By Kevin Flanagan Company News

19 Dec: This Holiday’s Must-Have Tech Gifts? Here They Are

Just in time for the holidays, Best Buy – with some help from a consumer survey – has created a list of tech products that will have everyone doing the Jingle Bell Rock. From items under $100 to wearables, here are the hottest gifts this year:

Gifts Under $100

We get it – you have to buy your girlfriend’s godparents, younger brother, AND next-door neighbor gifts that will convince them you’re living large, but you’re on a tight budget. Here are some quality gifts under $100.

By Best Buy Company News PR News Alerts

17 Dec: Learn to Use a DSLR in a Flash for Free

Whether you just bought your first DSLR or you’ve had one for a while and you’re still in the “How do I actually make the most of this thing?” stage, Best Buy can help. If you’re looking to get your camera skills in focus or trying to decide which camera to finally select, you’re in luck. Best Buy is offering free Digital Photography Workshops in select Best Buy Camera Experience Shops across the country. From novices to experts, customers can sign up for classes offered every Sunday in January from 10 a.m.

By Best Buy Company News Featured

15 Dec: Holiday Tech Advice On-The-Go: Geek Squad Arrives at Chicago O’Hare International Airport

Over the past several years, Chicago O’Hare International Airport has been one of the five busiest airports in the U.S., with more than five million passengers coming through the airport in December.* Like 94 percent of all adult travelers, O’Hare travelers rely on electronic devices to keep themselves busy as they make their trek home for the holidays.** Dead device? No problem. Tablet that won’t play that favorite holiday movie for the billionth time? Don’t sweat it.

Geek Squad Agents will come to the rescue from 8 a.m.

By Best Buy Company News

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.

By Best Buy Company News

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.

Secure that network. A secure connection to the Internet is key in preventing unauthorized access to your information.

By Best Buy Company News Featured

28 Nov: Media Statement: BestBuy.com

A concentrated spike in mobile traffic triggered issues that led us to shut down BestBuy.com in order to take proactive measures to restore full performance. Our consumers can return to BestBuy.com in the next several hours to take advantage of today’s door busters.

By Best Buy Company News Featured

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 % change^1,2	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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