Company News

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

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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.

By Best Buy Company News Featured

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.

Revenue	Q2 FY14	Q2 FY13
Revenue ($ in millions)	$9,300	$9,339
Comparable store sales % change¹	(0.6%)	(3.3%)
Domestic Segment:
Comparable store sales % change¹	(0.4%)	(1.6%)
Comparable online sales % change	10.5%	14.2%
International Segment:
Comparable store sales % change¹	(1.8%)	(11.3%)

Operating Income, Diluted EPS and Return on Invested Capital (ROIC)	GAAP		Non-GAAP²
	Q2 FY14	Q2 FY13	Q2 FY14	Q2 FY13
Operating income as a % of revenue	4.4%	0.9%	2.2%	1.9%
Diluted EPS from continuing operations	$0.69	$0.09	$0.32	$0.26
ROIC³	n/a	n/a	9.1%	11.2%

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).

By Best Buy Company News Featured

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!

By Best Buy Company News Sustainability

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 www.bby.com/sustainability.

Media Contact:

Jeremy Baier
jeremy.baier@bestbuy.com

By Best Buy Company News

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.

By Best Buy Company News Featured

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.

By Best Buy Company News Featured

05 Mar: Ron Wilson Named President and Chief Operating Officer of Best Buy Canada

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.

By Best Buy Company News Featured

07 Jan: Best Buy Makes Digital Conversion Easy for Movie Fans with First Disc-to-Digital In-Home Service

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 UltraViolet^TM 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.

By Best Buy Company News Featured

20 Nov: Best Buy Confirms Significant Decline in Fiscal Third Quarter 2013 Earnings

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.

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