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.
Company News
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.
Burnaby, British Colombia, March 5, 2013 – Best Buy Co., Inc., the world’s largest consumer electronics retailer, today announced Ron Wilson as the new president and chief operating officer of its Canada operations, effective immediately. In this role, Wilson will lead the business in Canada under the Future Shop and Best Buy online brands.
“Ron has been an integral part of Best Buy’s success in Canada for more than two decades,” said Shari Ballard, executive vice president and president, Best Buy International.
MINNEAPOLIS, January 7, 2013 – Best Buy Co. Inc (NYSE: BBY), the global leader in consumer electronics, is making it easier than ever for consumers to enjoy their favorite movies anywhere and at any time with the launch of the first ever in-home disc-to-digital conversion service available now. Powered by Best Buy’s video streaming service- CinemaNow – and currently in beta, consumers now have the freedom to put UltraVioletTM copies of their favorite DVD titles in the cloud, giving them access to their DVD collections from any compatible Internet-connected device including smartphones, tablets, gaming consoles and more.
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.
MINNEAPOLIS, November 12, 2012 – Best Buy Co., Inc. (NYSE: BBY), the leading multi-channel retailer of technology products and services, today announced that Sharon McCollam, the retired Director, Executive Vice President, Chief Operating and Chief Financial Officer of Williams-Sonoma, Inc., will join the company as its new Chief Administrative and Chief Financial Officer, effective December 10, 2012. McCollam, 50, left Williams-Sonoma earlier this year after serving as an executive officer for more than 12 years.
As the Chief Administrative and Chief Financial Officer, McCollam will influence and shape all aspects of Best Buy’s operations and transformation strategy.
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.
MINNEAPOLIS, October 9, 2012 – Best Buy Co., Inc. (NYSE:BBY) received its highest score ever from the Carbon Disclosure Project (CDP), which represents 655 institutional investors with $78 trillion in assets, for its performance and approach to the disclosure of climate change information.
Best Buy was recognized by the CDP in both the Carbon Disclosure Leadership Index (CDLI), scoring a 96 for disclosure, and the Carbon Performance Leadership Index (CPLI), scoring an “A” for performance. The combined score of 96A is tied for the second-highest score among S&P 500 companies, and is the highest combined score among retailers.
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.
MINNEAPOLIS, June 6, 2012 – Best Buy’s Geek Squad today announced the 6th Annual Geek Squad Summer Academy(TM) program, an unparalleled community-supported tech immersion experience that provides young people the tech know-how to spark creativity and innovation. Introduced in 2007, this technology boot camp has grown from a one-day, one-city 300-student camp to a nationwide program that will reach nearly 10,000 students in more than 20 states this summer. The Geek Squad Summer Academy program, a contributor to the White House Joining Forces initiative, also will support tech education for military family members by hosting five customized camps on select military bases across the U.S.