Company News

By Keegan Shoutz Company News

27 May: Best Buy Health’s Lively emergency services now available on Alexa-enabled devices

Best Buy Health is making it easier to live safely and independently in your home with the availability to access Lively Urgent Response through compatible Alexa-enabled devices. This new capability provides users 24/7 support from a caring Lively Urgent Response Agent.

Starting now, customers can link their Lively and Alexa accounts together, giving them access to the Lively Urgent Response services with a simple voice command. Lively Urgent Response can be reached on a number of Alexa-enabled devices in the home, including Echo, Echo Show, Echo Dot, Fire TV Cube and Fire Tablet (when Show Mode is enabled).

By Best Buy Company News

24 May: Best Buy reports Q1 FY23 results

Comparable Sales Decreased 8.0% Compared to 37.2% Growth in Q1 FY22
GAAP Diluted EPS of $1.49
Non-GAAP Diluted EPS of $1.57

MINNEAPOLIS, May 24, 2022 — Best Buy Co., Inc. (NYSE: BBY) today announced results for the 13-week first quarter ended April 30, 2022 (“Q1 FY23”), as compared to the 13-week first quarter ended May 1, 2021 (“Q1 FY22”).

(Click here to view full release and statements.)

	Q1 FY23	Q1 FY22
Revenue ($ in millions)
Enterprise	$ 10,647	$ 11,637
Domestic segment	$ 9,894	$ 10,841
International segment	$ 753	$ 796
Enterprise comparable sales % change¹	(8.0) %	37.2 %
Domestic comparable sales % change¹	(8.5) %	37.9 %
Domestic comparable online sales % change¹	(14.9) %	7.6 %
International comparable sales % change¹	(1.4) %	27.8 %
Operating Income
GAAP operating income as a % of revenue	4.3 %	6.6 %
Non-GAAP operating income as a % of revenue	4.6 %	6.4 %
Diluted Earnings per Share (“EPS”)
GAAP diluted EPS	$ 1.49	$ 2.32
Non-GAAP diluted EPS	$ 1.57	$ 2.23

For GAAP to non-GAAP reconciliations of the measures referred to in the above table, please refer to the attached supporting schedule.

By Best Buy Company News

11 May: Best Buy to open 4 new outlet stores, add new product categories

Best Buy will open four new outlet stores, which feature open-box and clearance items at reduced prices, this summer and fall in select cities across the United States.

We have talked about our plans to double the number of outlets over the next year, and we’re excited to share that new stores will open in Chicago, Houston, Phoenix and Manassas, Virginia. (We currently have 16 outlet stores in cities ranging from Moreno Valley, California, to Kennesaw, Georgia, to Brockton, Massachusetts).

Our new Chicago, Phoenix and Manassas outlets will be remodels of existing Best Buy stores, and our current Houston outlet will move to a new location that’s three times bigger.

By Keegan Shoutz Company News

06 May: Best Buy expands health, outdoor living, and transportation categories

Earlier this year, we said we’d be expanding and launching new product categories that solve your needs. Today, we’re excited to share some updates on a few different collections you will soon see in select Best Buy stores and on BestBuy.com.

Health and wellness

Technology’s role in the health and wellness industry has grown quickly over the past few years, ranging from products that help monitor blood pressure to innovative skin care devices.

On that note, nearly 300 Best Buy stores (and BestBuy.com

By Ale Valeriano Company News

05 May: Best Buy named ENERGY STAR Partner of the Year For 9th year in a row

We are proud of the work we do every day to help our customers save energy and live a more sustainable lifestyle. And getting recognized for it makes it even better.

That is why we are excited to be named ENERGY STAR Partner of the Year for the ninth year in a row.

Every year, the U.S. Environmental Protection Agency (EPA) highlights organizations that have made outstanding contributions to protecting the environment through superior energy efficiency achievements. We were awarded ENERGY STAR Partner of the Year for our efforts in protecting the environment and helping consumers save energy and cost savings. This

By Best Buy Company News

05 May: Best Buy Teen Tech Center® teens featured in national ad campaign

Starting this month, a new nationwide Best Buy ad campaign will feature teens and the mentors that are helping them pursue their dreams.

“Mentor Moments” highlights three pairs of teens that participate in Best Buy Teen Tech Center® programs around the U.S and their relationships with their Best Buy Teen Tech Center coordinators. In the short films, New York City-based New York City-based director and documentary filmmaker Rodney Lucas and story producer Bridget Botchway Bradley focus on the power and lasting impact of mentorship.

By Best Buy Company News

02 May: Making dreams a reality through Best Buy Teen Tech Center® programs

Through each music video produced, robot built, and photograph captured at Best Buy Teen Tech Center® locations, teens are getting one step closer to making their dreams come true. And now, customers can be a part of it.

This week, we’re launching an opportunity for customers to make an impact. Best Buy customers can make a donation to the Best Buy Foundation in support of Teen Tech Centers starting May 1 when they make a purchase in stores, online at BestBuy.com

By Best Buy Company News

27 Apr: Three more Best Buy facilities earn TRUE certification for zero waste

We’re proud to share that three supply chain facilities — two in California and one in Washington — have earned TRUE certification for zero waste. That means each building diverts more than 90% of its waste from landfills, getting us one step closer to making a positive, lasting impact on the planet.

These distribution centers are joining our Reverse Logistics Center in Chino, California, which was Best Buy’s first facility to receive TRUE certification last year, each with goals of supporting supply chain waste reduction.

By Ale Valeriano Company News

22 Apr: Best Buy’s priority on planet puts sustainability front and center

The impact of climate change poses a major challenge for all of us, and it will take bold action to help the planet.

As we celebrate Earth Month and Earth Day today, Best Buy continues to take action year-round to do better for the planet, our employees and customers, and the communities we serve. From our supply chain to our retail stores, we are continually working on ways to reduce our carbon emissions and drive the circular economy, a system in which nothing is wasted and we keep products in use for as long as possible.

Best Buy joins other companies to talk climate action with Congress

By Best Buy Company News

22 Apr: On Earth Day, Best Buy customers can see their collective impact like never before

By Ale Valeriano Company News

20 Apr: Best Buy launches home pick-up recycling service

Starting this month, Best Buy, the nation’s largest retail collector of e-waste, is making it easier than ever to get rid of old tech while protecting the environment – by picking it up directly from customers’ homes. Once picked up, all products are then responsibly and safely recycled.

Just a click away, anyone in the U.S. can now request pickup and recycling for old electronics, keeping tech, including appliances, out of landfills and giving it a second life. The Best Buy Standalone Haul-Away service will remove and recycle up to two large products (including TVs, major appliances, all-in-one computers and monitors), along with select smaller products, like laptops, cameras, cords, gaming consoles and more.

By Becca Lunt Company News

15 Mar: Best Buy’s role in the future of aging at home: Deborah Di Sanzo at SXSW

Sure, the well-known South by Southwest (SXSW) conference and festival features concerts, art exhibitions and celebrities exploring Austin, Texas. But the real magic happens when industry leaders and speakers convene to discuss and debate challenges and share their perspective on the future of tech innovation.

This year, President of Best Buy Health Deborah Di Sanzo hit the stage to share how Best Buy is using technology to enable aging adults to live and thrive in the comfort of their homes.

A Panel of Industry-leading Experts

In the panel “There’s No Place Like Home: Scaling for the Future,” presented by Energizing Health, Deborah joined Hon Pak, chief medical officer at Samsung; Bill Hawkins, senior advisor at EW Healthcare Partners; and host Jisella Dolan, chief global advocacy officer at Home Instead.

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