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27 May: Best Buy reports better-than-expected Q1 FY22 results

Enterprise Comparable Sales Increased 37.2%

GAAP Diluted EPS Increased 280% to $2.32

Non-GAAP Diluted EPS Increased 233% to $2.23

Raises Full-Year Enterprise Comparable Sales Growth Outlook to a Range of 3% to 6%

MINNEAPOLIS, May 27, 2021 — Best Buy Co., Inc. (NYSE: BBY) today announced results for the 13-week first quarter ended May 1, 2021 (“Q1 FY22”), as compared to the 13-week first quarter ended May 2, 2020 (“Q1 FY21”).

Revenue ($ in millions)Q1 FY22  Q1 FY21
Enterprise$11,637 $8,562
Domestic segment$10,841 $7,915
International segment$796 $647
Enterprise comparable sales % change1 37.2% (5.3)%
Domestic comparable sales % change1 37.9% (5.7)%
Domestic comparable online sales % change1 7.6% 155.4%
International comparable sales % change1 27.8%0.2%
Operating Income  
GAAP operating income as a % of revenue 6.6% 2.7%
Non-GAAP operating income as a % of revenue 6.4% 2.9%
Diluted Earnings per Share (“EPS”)  
GAAP diluted EPS$2.32 $0.61
Non-GAAP diluted EPS$2.23 $0.67

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

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28 Apr: Best Buy stands with AAPI employees, communities

Asian American and Pacific Islander Heritage Month is a time to recognize and celebrate the vibrant role the AAPI community plays in our nation’s culture and heritage. However, we also must acknowledge the struggle and pain taking place within that community right now.

There has been a dramatic rise in anti-Asian racist incidents nationwide since the start of the COVID-19 pandemic. That ranges from racial slurs to extreme violence in some cases.

Especially now, Best Buy stands with our AAPI employees and communities.

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28 Apr: Living my values: Best Buy leaders celebrate their Asian American heritage

During Asian American and Pacific Islander (AAPI) Heritage Month this May, we want to take the time to reflect on the significant contributions and achievements AAPI Americans have made — and continue to make — to our country, our communities and Best Buy.

This observance comes at a time that has been significantly difficult for the AAPI community, with anti-Asian hate crimes on the rise since the COVID-19 pandemic began. Now, it’s more important than ever to share and celebrate the voices of the AAPI community.

We’re proud to highlight four AAPI leaders who shared how their family, culture and experiences have shaped who they are today.

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28 Apr: Best Buy earns first TRUE certification for zero waste

We have long been committed to making a positive impact on the planet and the communities we serve, and that journey has pushed us to continually find new ways to make our business even more sustainable.

Today, we’re proud to announce that our Reverse Logistics Center in Chino, California, has earned Best Buy’s first TRUE certification for zero waste. Over the last year, the supply chain facility was able to divert more than 99.67% of its solid waste from landfills.

TRUE (Total Resource Use and Efficiency) certification helps facilities define, pursue and achieve zero waste goals, which increases their resource efficiency, cuts their carbon footprint, and supports public health.