For the 10th holiday season in a row, Best Buy is joining the fight against childhood cancer and other life-threatening diseases as part of the St. Jude Thanks and Giving® campaign.
Starting this month, we’re asking our customers to consider giving to St. Jude Children’s Research Hospital® when making purchases in stores or online. Every dollar donated will not only help with research, but also ensure families never receive a bill from St. Jude for treatment, travel, housing or food.
Best Buy Health’s goal is to enable care at home by building on our strengths in three focal areas, one of which is active aging. We are empowering an aging generation to live the life they want by delivering simple, human-supported health and safety solutions.
Last year, we launched our new Lively brand, which offers solutions to support adults who want to age independently at home, whether that be through our Jitterbug phones, our medical alert devices, our health & safety services or our offerings through Amazon Alexa and Apple Watch.
We’ve always known Best Buy customers are the best. Now we have proof – over the last 5 months, Best Buy customers stepped up and contributed more than $7.5 million to the Best Buy Foundation in support of Best Buy Teen Tech Centers®.
Between May 1 and Oct. 1, customers contributed in stores and online to help continue the expansion of the Teen Tech Center network, including programming for career and post-secondary transitions for teens from disinvested communities.
“It is inspiring to see our customers show up in a big way year after year to support this important cause,” said Andrea Wood, Best Buy’s vice president of social impact.
Today, The Best Buy Foundation celebrated the grand opening of the Best Buy Teen Tech Center® at Movimiento de Arte y Cultura Latino Americana (MACLA) in San José, California. The center provides teens with access to cutting-edge technology, including tools for film, digital media, audio engineering and music production.
Google.org, Google’s philanthropic arm, is co-funding the Teen Tech Center. Their contribution to MACLA will support the work the center is doing to provide tech access, digital skills training and mentorship for youth.
Best Buy was recently recognized by the U.S. Secretary of Defense for benefits and assistance available to military employees with the Above and Beyond Award.
In addition, multiple leaders across the company have received Patriot Awards for their personal support of an employee serving in the National Guard.
The Best Buy Military Employee Resource Group (ERG) leadership team accepted the Above and Beyond award on behalf of the company at the Minnesota State Fair on Aug. 30.
“We are genuinely honored to receive this award,” said ERG chair Nikki Kukla.
Our sustainability journey has pushed us to continually find new ways to innovate within our operations and beyond. That includes making Best Buy’s exclusive brand products and the packaging they come in more sustainable.
We’re launching an expansive line of protective cases for the new iPhone 14 lineup, and there’s something special about the packaging they come in: it’s being made with sustainably sourced paper that is certified by the Forest Stewardship Council® (FSC®). The phone cases are the largest lineup yet of Best Buy exclusive brand products to get the eco-friendly packaging.
MINNEAPOLIS, August 30, 2022 — Best Buy Co., Inc. (NYSE: BBY) today announced results for the 13-week second quarter ended July 30, 2022 (“Q2 FY23”), as compared to the 13-week second quarter ended July 31, 2021 (“Q2 FY22”).
Click here to view full release and statements.
| Q2 FY23 | Q2 FY22 | |
| Revenue ($ in millions) | ||
| Enterprise | $10,329 | $11,849 |
| Domestic segment | $9,569 | $11,011 |
| International segment | $760 | $838 |
| Enterprise comparable sales % change1 | (12.1)% | 19.6% |
| Domestic comparable sales % change1 | (12.7)% | 20.8% |
| Domestic comparable online sales % change1 | (14.7)% | (28.1)% |
| International comparable sales % change1 | (4.2)% | 5.0% |
| Operating Income | ||
| GAAP operating income as a % of revenue | 3.6% | 6.7% |
| Non-GAAP operating income as a % of revenue | 4.1% | 6.9% |
| Diluted Earnings per Share (“EPS”) | ||
| GAAP diluted EPS | $1.35 | $2.90 |
| Non-GAAP diluted EPS | $1.54 | $2.98 |
For GAAP to non-GAAP reconciliations of the measures referred to in the above table, please refer to the attached supporting schedule.
Water scarcity is a growing issue nation-wide. That’s why we are taking steps to reduce our water consumption and help our customers do the same.
By monitoring our water consumption across our business, we are proud to share that we have reduced our water usage across the company by 24% since 2019. From our stores to distribution centers and headquarters in Minnesota, we are committed to sustainably managing the water we use to help the planet.
Here’s a quick look at steps we’ve taken to achieve our goal to reduce the amount of water we use across our business.
For Damien Harmon, Gary, Indiana will always be home. It’s the place that raised him, invested in his future, and gave him the confidence to go out and chase his dreams.
Now Executive Vice President of Omnichannel at Best Buy, a role where he leads stores, Geek Squad and all physical customer touch points, Damien is giving back to his hometown the best way he knows how – through tech. Alongside his wife, Katy, they are sponsoring Gary’s first Best Buy Teen Tech Center®, giving Gary teens access to technology that will help them shape their futures.
The Best Buy Foundation is teaming up with Meta to power six Best Buy Teen Tech Center® locations across the country. It’s a major investment by Meta that will bring augmented reality and virtual reality technology and hardware to our growing network of safe, after-school spaces that provide tech access, training and mentorship for youth.
The first of these Meta-powered Teen Tech Centers is celebrating its grand opening today at the Boys & Girls Clubs of the Peninsula at the Moldaw-Zaffaroni Club in East Palo Alto, California.
Best Buy earned a perfect 100 score to be named a 2022 “Best Place to Work for Disability Inclusion” by the Disability Equality Index (DEI). It’s the eighth year in a row we’ve made the list.
The index is a comprehensive benchmarking tool that recognizes commitment toward disability equality practices and helps companies build a roadmap of actions that they can take to achieve inclusion and equality in the workplace.
We are proud to have earned top numbers across the 2022 scorecard.
