Company News

By Best Buy Company News

26 Aug: Best Buy Reports Second Quarter Results

Non-GAAP diluted EPS from continuing operations of $0.44

GAAP diluted EPS from continuing operations of $0.42

$40 million in additional annualized Renew Blue cost reductions, bringing the cumulative total to $900 million

MINNEAPOLIS, August 26, 2014 — Best Buy Co., Inc. (NYSE: BBY) today announced results for the 13-week second quarter (“Q2 FY15”) ended August 2, 2014 as compared to the 13-week second quarter (“Q2 FY14”) ended August 3, 2013.

Revenue	Q2 FY15	Q2 FY14
Revenue ($ in millions)	$8,896	$9,266
Comparable sales % change¹	(2.7%)	(0.6%)
Domestic Segment:
Comparable sales % change	(2.0%)	(0.4%)
Comparable online sales % change	22.0%	10.5%
International Segment:
Comparable sales % change	(6.7%)	(1.8%)

Operating Income	Q2 FY15	Q2 FY14
GAAPoperating income as a % of revenue	2.7%	4.5%
Non-GAAPoperating income as a % of revenue²	2.9%	2.2%

Diluted EPS	Q2 FY15	Q2 FY14
GAAP diluted EPS from continuing operations	$0.42	$0.69
Impact of net LCD settlements³	$0.00	($0.43)
Impact of non-restructuring asset impairments	$0.02	$0.03
Impact of restructuring charges	$0.00	$0.01
Impact of gain on sale of investments	$0.00	($0.03)
Benefit of income tax impact of Best Buy Europe sale	$0.00	$0.05
Non-GAAP diluted EPS from continuing operations²	$0.44	$0.32

Hubert Joly, Best Buy president and CEO, commented, “In the second quarter, we delivered $8.9 billion in revenue and $0.44 in non-GAAP diluted earnings per share versus $0.32 last year.

By Best Buy Company News Geek Squad Lifestyle

25 Aug: Geek Squad Agent Doubles as a Semipro Wrestler? Believe It.

By day, Geek Squad Agent Chuck Weeden pins down technology problems for Best Buy customers at the Auburn Hills store in suburban Detroit.

But after work, Weeden, a.k.a. “Big Money,” tackles opponents as a semipro wrestler with the Michigan Championship Wrestling Association (MCWA).

Weeden’s signature move? The “Cash Out,” fittingly enough.

“I scoop up my opponent and as I slam him down I wrap my arm around his neck, pretty much landing on his neck as I come down,” he said.

By Best Buy Company News

22 Aug: Back to School 101: Turn Shopping Into Savings

Back to school. This time of year can break the bank for parents and students, especially those heading off to college for the first time. But you don’t have to spend money like it’s going out of style.

There are the obvious expenses – tuition, books and housing – and then there are tech tools like a laptop or tablet you need for class assignments. And don’t forget the gear that makes your dorm room the perfect study retreat.

These costs may seem like you’ll be eating ramen noodles forever, but don’t worry.

By Best Buy Company News Geek Squad Lifestyle

24 Jul: Turn Back the Clock for Geek Squad’s 20th Birthday: ’94 vs. 2014

What better time to reminisce about the technology of two decades ago than this, the Geek Squad’s 20th birthday year.

Let’s mentally teleport back to the age of copious amounts of cookie-cutter boy bands, jean overalls with one strap undone, and Jansport backpacks.

To get in the right ’90s mindset, check out which movies were hot on VHS — yes VHS — back in 1994.

Laptops: From thick bricks to dynamic 2-in-1 shape-shifting gadgets

Today’s version of the PC laptop averages $399, so just a bit more affordable than that heavy $2,000+ version.

By Best Buy Company News Geek Squad Lifestyle

14 Jul: Geek Squad’s 20th Birthday Has a Nice (NYSE) Ring to It

Geek Squad passed on the sheet cake for its 20th birthday.

Instead, Geek Squad hit Wall Street and celebrated its 20th birthday by ringing the bell at the New York Stock Exchange.

President of Geek Squad Chris Askew was flanked by some of the nation’s best and brightest who wear black and orange (in addition to a couple hand-picked and lucky Blue Shirts, too).

“This trip means the world to me,” said Cody Halvorson, a Precinct Agent from Reno, Nev., who was the individual to ring the bell.

By Best Buy Company News Featured

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.

By Best Buy Company News Featured

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.

By Best Buy Company News Featured

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.”

By Best Buy Company News Featured Sustainability

23 Oct: Best Buy Gets Top Recycling Honors

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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.

By Best Buy Company News Featured Sustainability

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

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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.

By Best Buy Company News Featured Sustainability

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.

By Best Buy Company News Sustainability

12 Sep: Best Buy Named to Dow Jones Sustainability Index

DJSI

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 68^th percentile to the 84^th 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.

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