Company News

By Carly Charlson Company News

05 Sep: It’s Here: Motorola Launches Moto 360 and You Can Get It at Best Buy

The time has come. Today, Motorola launched its highly-anticipated Moto 360 – an Android Wear-powered device with a sleek round face.

The Moto 360 is available at BestBuy.com today. And on Sunday, Sept. 14, eager Moto 360 customers can check it out and try it on at Best Buy and Best Buy Mobile stores, the only brick-and-mortar retailers to offer the device at launch.

The new, stylish device is compatible with Android smartphones 4.3 or later. Additional features include:

Voice activation – tell your Moto 360 what to do through a built-in microphone
Vibration alerts – it discretely sends your notifications
Water resistant – up to 3.3 feet and for 30 minutes
Built-in pedometer and optical heart rate monitor – keep tabs on your ideal heart rate and track your steps

Order your Moto 360 for $249.99 now at BestBuy.com

By Best Buy Company News

03 Sep: Best Buy Introduces Exclusive kate spade new york Tech Accessories

Give your smartphone, tablet and laptop a makeover – after all, it is Fashion Week in New York – as a new collection of exclusive tech accessories from top fashion designers and brands begins to arrive at Best Buy.

Starting Sunday, Sept. 7, kate spade new york smartphone, tablet and laptop cases, as well as portable power packs, will be available at select Best Buy and Best Buy Mobile stores and on BestBuy.com. It’s the first in a series of Best Buy fashion designer partnerships to be announced in coming weeks.

By Best Buy Company News

29 Aug: Meet the Magnolia Designer Who Creates $60,000 Man Caves

Jason Chaney makes Man Cave dreams come true.

He’s spearheaded home theater creations as pricey as $60,000 as a Magnolia Designer and now leads the home theater department at Best Buy’s Mission Valley store in San Diego.

Maybe you’ve seen #MagnoliaMondays on Best Buy PR’s Instagram? That’s the work of Chaney and his peers.

So, want to know the hottest trend in home theater?

Wondering what’s the biggest no-no in manufacturing a Man Cave?

Chaney, a 32-year-old home theater veteran, answers all and shares his entertainment expertise.

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

05 Jun: VIDEO: Highlights from President and CEO Hubert Joly’s E-Fairness Speech at NGA

Check out the highlights as Best Buy President and CEO Hubert Joly talks about the importance of e-fairness at the 2014 National Governor’s Association meeting in Nashville.

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.”

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