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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.

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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).

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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!

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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.

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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.

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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 UltraVioletTM 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.

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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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