PR News Alerts

Best Buy Logo

24 May: Best Buy Announces Internal Succession Plan for Company’s Chief Administrative and Chief Financial Officer

CAO and CFO Sharon McCollam to step down at conclusion of company’s annual shareholder meeting in June

Current Chief Strategic Growth Officer to assume CFO role

MINNEAPOLIS, May 24, 2016 — As part of an internal succession plan, Best Buy today announced that Sharon McCollam, the company’s chief administrative and chief financial officer, will be stepping down on June 14, 2016. McCollam will remain with the company in an advisory capacity until the end of the fiscal year, January 28, 2017, to ensure a seamless transition.

Best Buy-Rift

02 May: Best Buy’s the First U.S. Retailer to Offer Oculus Rift VR Demos

It’s one of this year’s most talked about products, and now you can see for yourself what all the excitement is about. The highly anticipated Oculus Rift virtual reality headset is coming to select Best Buy stores.

Best Buy is the first and only U.S. retailer where customers can try out Rift headsets in stores. Starting Saturday, May 7, we’ll have free in-store demos at The Intel Experience inside 48 Best Buy stores across the nation. Oculus Rift demos will be coming to additional Best Buy stores throughout the year, starting this summer.

Best Buy-GSA

28 Apr: Geek Squad Academy’s 10th Year of Summer Sessions Begin in May

Geek Squad Academy (GSA) is officially turning double digits! Entering its 10th year in 2016, GSA so far has inspired more than 30,000 kids from underserved communities to become the new generation of engineers, entrepreneurs, teachers, designers and dreamers.

The 2016 season kicks off on May 2 in Atlanta, Georgia, and will go coast-to-coast with more than 30 camps throughout summer and early fall. GSA works with local nonprofits and other organizations to provide much-needed technology education for students aged 10-18.

Best Buy-mom

25 Apr: What Does Mom Really Want for Mother’s Day? Best Buy Asked

Mom wears many hats. She cheerleads. She organizes. She comforts. She teaches … and so much more. She’s the glue that helps keep the family and household connected and running smoothly.

That’s why we celebrate her every year on Mother’s Day (May 8, this year). Sometimes it can be hard to find the gift that expresses your gratitude for everything she does for you. Did she really like that coffee mug last year?

Best Buy recently conducted a national study to better understand what moms really want on Mother’s Day, especially when it comes to technology.

Best Buy-Geek Squad

11 Apr: Best Buy’s Geek Squad Rolls Out New Geekmobile, Updated Logo

With a brand new ride and refreshed logo, Geek Squad is all revved up for the road ahead.

Best Buy announced today the dispatch of nearly 1,000 Toyota Prius c hybrids nationwide to serve as our new Geekmobile vehicles. The new Geekmobile, boldly bearing the updated logo, better reflects today’s new Geek Squad — the nationwide tech-support task force that is continually expanding its services to keep pace with ever-changing technology.

When Geek Squad began more than 20 years ago, it was a small, local business dedicated solely to repairing personal computers.

Best Buy rewards points

08 Apr: Best Buy, Citi Add Pay With Points to Growing Payment Options

Forget checking the couch cushions for spare change. It’s time to check your credit card rewards balance for unused points instead.

Best Buy customers can now use Citi ThankYou Points to pay for all or a portion of most purchases made on BestBuy.com, making it easy and convenient to redeem their points for top tech products.

Consumer electronics are already among the most sought-after redemption categories in the ThankYou Rewards program, and this partnership offers a new, more versatile way for Citi ThankYou members to get items they want the most.

Best Buy same-day delivery

06 Apr: Best Buy Is Testing Same-Day Delivery

Want to get your hands on the latest technology — or everyday must-haves like printer ink — quickly but don’t have time to stop by a store? Best Buy has good news for you.

The company announced Wednesday that it’s expanding its test of same-day delivery service to 13 major metro markets across the United States.

We started the pilot in San Francisco last fall and expanded it to New York early this year. We’ve since added Atlanta, Boston, Chicago, Dallas, Houston, Las Vegas, Los Angeles, Miami, Philadelphia, Seattle and Washington, D.C.

Best Buy digital divide

17 Mar: Helping to Bridge the Nation’s Digital Divide in 2016

Despite incredible advances in technology to help Americans connect, interact and learn, more and more young people are being left behind as the digital divide persists.

Youth from underserved communities and lower-income families often lack access to tech tools like computers and Internet connections — along with training in how to use them. This creates a very real challenge for preparing the next generation of talent our country needs to compete and succeed in a global economy.

Best Buy is intensifying efforts this year to confront the technology gap through expanded programs that help underserved young people develop the skills they need to be successful in school and in their future careers.

BBY_Logo_WEB_large

15 Mar: Best Buy Announces Brad Anderson Will Retire from Board of Directors, Claudia Fan Munce Appointed to Join Board

MINNEAPOLIS – March 15, 2016 – Best Buy Co., Inc. today announced that former CEO Brad Anderson will retire from the Board of Directors and that the company has appointed corporate venture capital leader Claudia Fan Munce to the Board, effective March 14.

Anderson will serve the remainder of his term through the end of the annual shareholder meeting on June 14. Munce will stand for election at that time.

Anderson retires from the Board

Anderson started his second stint on the Board in March 2013.

00 PRE TRIP 1080

10 Mar: Have the Best Spring Break Ever With These Pre-Travel Tech Tips

Spring is in the air, and millions of Americans are packing their bags, looking forward to rest, relaxation and adventure. But before heading to the airport or putting the car into drive for that spring break destination, it’s important to make sure your tech devices are ready to go.

There are all kinds of gadgets to help keep you occupied while you’re traveling, capture memories while you’re there, and make the most of your vacation.

Make sure you check off these pre-trip tech tips.

25 Feb: Best Buy Announces Capital Return to Shareholders

22% Increase in Quarterly Dividend to $0.28 per Share

New $1 Billion Share Repurchase Program over Two Years

Special Dividend of $0.45 per Share or Approximately $145 Million

MINNEAPOLIS, February 25, 2016 — Best Buy Co., Inc. (NYSE: BBY) today announced that its Board of Directors authorized a plan to return excess capital to shareholders as follows:

  • A 22% increase in the regular quarterly dividend to $0.28 per share, effective immediately;
  • A new $1 billion share repurchase plan expected to be completed over the next two years; and
  • A special dividend of $0.45 per share, or approximately $145 million; related to the net after-tax proceeds from certain legal settlements and asset disposals. 
Best Buy Logo

25 Feb: Best Buy Reports Better-Than-Expected Fourth Quarter Earnings

Non-GAAP Diluted EPS from Continuing Operations Increased 3% to $1.53

GAAP Diluted EPS from Continuing Operations Decreased 5% to $1.39

Domestic Segment Revenue Decreased 1.5%

Repurchased $615 million in Stock for a Fiscal 2016 Total of $1 billion

MINNEAPOLIS, February 25, 2016 — Best Buy Co., Inc. (NYSE: BBY) today announced results for the fourth quarter (“Q4 FY16”) and year ended January 30, 2016 (“FY16”), as compared to the fourth quarter (“Q4 FY15”) and year ended January 31, 2015 (“FY15”). PDF Version.