PR News Alerts

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By Best Buy Company News PR News Alerts

14 Jan: Best Buy Reports Holiday Revenue Results

Domestic Revenue Decreased 0.8%

Repurchased $203 million in Stock for a Year-to-Date Total of $588 million

Improving the Fourth Quarter Operating Margin Outlook

MINNEAPOLIS, Jan. 14, 2016 — Best Buy Co., Inc. (NYSE: BBY) today announced revenue results for the nine weeks ended January 2, 2016 as compared to the nine weeks ended Jan. 3, 2015. PDF version.

Fiscal 2016 Holiday Revenue Summary 9 weeks ended January 2, 2016 9 weeks ended January 3, 2015
Enterprise Revenue ($ in millions)1 $10,961 $11,366
Domestic segment $10,050 $10,132
Domestic segment year-over-year revenue change (0.8%) 4.1%
International segment1 $911 $1,233
Enterprise Comparable Sales % Change:
Excluding the estimated benefit of installment billing2,3 (1.4%) 1.8%4
Estimated benefit of installment billing3  0.2%  0.7%
Comparable sales % change2 (1.2%) 2.5%4
Domestic Comparable Sales % Change:
Excluding the estimated benefit of installment billing2,3 (1.4%) 2.6%
Estimated benefit of installment billing3 0.2% 0.8%
Comparable sales % change2 (1.2%) 3.4%
Comparable online sales % change2 12.6% 13.4%

 

Hubert Joly, Best Buy chairman and CEO, commented, “During the holiday period, Domestic revenue declined 0.8% against a backdrop where the NPD-reported categories were down a greater-than-expected 4.8%5.

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Best Buy Logo
By Best Buy Company News PR News Alerts

19 Nov: Best Buy Reports Third Quarter Results

Domestic Segment Revenue Increased 1.2%

Non-GAAP Diluted EPS from Continuing Operations Increased 21% to $0.41

GAAP Diluted EPS from Continuing Operations Increased 12% to $0.37

MINNEAPOLIS, Nov. 19, 2015 — Best Buy Co., Inc. (NYSE: BBY) today announced results for the third quarter (“Q3 FY16”) ended October 31, 2015 as compared to the third quarter (“Q3 FY15”) ended November 1, 2014.

Printable PDF version: Click here

Q3 FY16 Q3 FY15
Enterprise Revenue ($ in millions)1 $8,819 $9,032
Domestic segment $8,090 $7,992
International segment1 $729 $1,040
Enterprise Comparable Sales % Change:
Excluding the estimated benefit of installment billing2,3 0.5% 2.2%4
Estimated benefit of installment billing3 0.3% 0.7%
Comparable sales % change2 0.8% 2.9%4
Domestic Comparable Sales % Change:
Excluding the estimated benefit of installment billing2,3 0.5% 2.4%
Estimated benefit of installment billing3 0.3% 0.8%
Comparable sales % change2 0.8% 3.2%
Comparable online sales % change2 18.3% 21.6%
     
  Q3 FY16 Q3 FY15
Operating Income:
GAAP operating income as a % of revenue 2.6% 2.3%
Non-GAAP operating income as a % of revenue5 2.8% 2.4%
Diluted Earnings per Share (EPS):
GAAP diluted EPS from continuing operations $0.37 $0.33
Impact of non-restructuring SG&A charges6 $0.02 $0.02
Impact of restructuring charges6 $0.02 $0.01
Impact of gain on investments, net $0.00 ($0.01)
Income tax impact of Non-GAAP adjustments7 $0.00 ($0.01)
Non-GAAP diluted EPS from continuing operations5 $0.41 $0.34

 

Hubert Joly, Best Buy chairman and CEO, commented, “We have delivered another quarter of Domestic comparable sales growth and operating income expansion.

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CDP_1
By Suzanne Hilker Company News PR News Alerts Sustainability

04 Nov: Best Buy Achieves Coveted CDP Climate Change A List

Best Buy has been awarded a prized position on the CDP Climate A List for our efforts to reduce carbon emissions in the past year.

The commendation puts Best Buy in the top 5 percent of thousands of companies that submit annual emissions data and climate management strategies to CDP (formerly Carbon Disclosure Project).

We are in good company. Other corporate “A Listers” now include sustainability powerhouses and partners such as Apple, Google, LG, Microsoft, Samsung, Sony and Sprint.

The A List designation comes shortly after Best Buy set a new goal to reduce carbon emissions by 45 percent by 2020 and signed the American Business Act Pledge on Climate Change.

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By Suzanne Hilker PR News Alerts Sustainability

27 Oct: Saving Trees One Box at a Time

Last year, Best Buy shipped more than 12 million packages to customers. That’s a lot of shipping boxes.

The cardboard we use is FSC-certified, meaning it comes from responsibly managed forests, but now we are using less of it. We recently “right-sized” our shipping boxes, which will save more than 440 tons of cardboard a year.

That means our customers are receiving packaging that is less wasteful. Our employees are experiencing a faster and easier packaging process. The company is seeing a reduction in costs associated with materials and labor.

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