best buy

GreatCall

15 Aug: Best Buy acquires GreatCall, expanding reach in health space

Best Buy today announced we have agreed to acquire GreatCall Inc. in an $800 million deal that expands our reach in the large and growing health space.

GreatCall is a leading provider of connected health and personal emergency response services to the aging population, with more than 900,000 subscribers. It sells easy-to-use mobile phones and connected devices that provide a way for seniors to reach a medical professional at the touch of the button. That design allows aging consumers to live independently longer, while also providing peace of mind to their loved ones.

motorsports

14 Aug: Best Buy employee driven by roar of the engine

Chris DeHarde loves motorsports. He’s been to every Indianapolis 500 since 1996 — when he was 7 years old — and writes about racing for various media outlets.

The problem was, he was living in his native New Orleans, working part time at Best Buy.

“I was talking to a couple friends and they said you need to move to Indianapolis if you want to pursue this full time,” Chris says. “So I went to a Best Buy in Noblesville, Indiana, and said, ‘I work at this Best Buy outside New Orleans, can we make this happen?’

Vegas B

22 Nov: Vegas Couple Camps Out At Best Buy To ‘Bless Someone Else’

Barbra and Bruce Reeves have been waiting in line at their local Best Buy store in Las Vegas for almost a week, anxious to score a doorbuster deal.

This isn’t the first time they’ve camped out for Black Friday deals, but this year is different. They’re not shopping for themselves.

The Reeves plan to buy a laptop for a woman who shot the photographs at their son’s wedding. Someone recently broke into her car and stole her laptop and camera.

The woman, an aspiring musician, was planning to sell her instruments to replace the electronics.

Best Buy financial results

16 Nov: Best Buy Reports Third Quarter FY18 Results

Enterprise Comparable Sales Increased 4.4%

Diluted EPS of $0.78 Increased 30%

Raising FY18 Financial Outlook

 

MINNEAPOLIS, November 16, 2017 — Best Buy Co., Inc. (NYSE: BBY) today announced results for the third quarter ended October 28, 2017 (“Q3 FY18”), as compared to the third quarter ended October 29, 2016 (“Q3 FY17”). The company reported diluted earnings per share from continuing operations of $0.78, an increase of 30% from $0.60 in Q3 FY17. (PDF version here.)

  Q3 FY18 Q3 FY171
Revenue ($ in millions)2    
Enterprise $9,320 $8,945
Domestic segment $8,491 $8,192
International segment $829 $753
Enterprise comparable sales % change 4.4% 1.8%
Domestic comparable sales % change 4.5% 1.8%
Domestic comparable online sales % change 22.3% 24.1%
International comparable sales % change 3.8% N/A
Operating Income:
GAAP operating income as a % of revenue 3.8% 3.5%
Non-GAAP operating income as a % of revenue 3.7% 3.5%
Diluted Earnings per Share (EPS):
GAAP diluted EPS from continuing operations $0.78 $0.60
Non-GAAP diluted EPS from continuing operations $0.78 $0.60
 

For GAAP to non-GAAP reconciliations, please refer to the attached supporting schedule titled “Reconciliation of non-GAAP Financial Measures”.

Best Buy - Investor Day

19 Sep: Best Buy Investor Day Details ‘Best Buy 2020: Building the New Blue’ Growth Strategy

Discusses Insights from Successful ‘Renew Blue’ Transformation

Shares Details on Plans to Expand What It Sells and Evolve How It Sells

Provides Long-Term Financial Targets for Fiscal 2021

 

MINNEAPOLIS, September 19, 2017 – Best Buy Co., Inc. (NYSE:BBY), a leading provider of consumer electronics products and services, will host an investor conference this afternoon to provide a more detailed overview of its Best Buy 2020: Building the New Blue growth strategy and discuss the company’s long-term financial outlook.

Best Buy Chairman and CEO Hubert Joly and other members of the executive team will discuss key insights gained from the company’s successful Renew Blue transformation, share the company’s analysis of the strategic landscape in which it operates and provide a closer look at key growth initiatives.

Best Buy - earnings

29 Aug: Best Buy Reports Better-than-Expected Second Quarter Results

Enterprise Comparable Sales Increased 5.4%

GAAP Diluted EPS of $0.67 Increased 20%

Non-GAAP Diluted EPS of $0.69 Increased 21%

 

MINNEAPOLIS, August 29, 2017 — Best Buy Co., Inc. (NYSE: BBY) today announced results for the second quarter ended July 29, 2017 (“Q2 FY18”), as compared to the second quarter ended July 30, 2016 (“Q2 FY17”). The company reported GAAP diluted earnings per share from continuing operations of $0.67, an increase of 20% from $0.56 in Q2 FY17. Non-GAAP diluted earnings per share from continuing operations were $0.69, an increase of 21% from $0.57 in Q2 FY17. (

Best Buy - Green Rankings

17 Aug: Best Buy’s 50-Hour Sale is Back with Even Better Deals

Best Buy celebrated its 50th birthday last August with 50 hours of Black Friday-like deals.

The celebration was such a hit that we’re bringing it back – with even better offers.

This year’s Best Buy 50-Hour Anniversary Sale kicks off at 10 p.m. Friday, Aug. 18, and ends at 11:59 p.m. Sunday, Aug. 20 (all times Central). 

Find great prices on everything from MacBook Pro laptops and 4K UHD TVs, to activity trackers and headphones. Nearly all the deals are available in stores and on BestBuy.com

Best Buy Store

10 Jul: Big Summer Savings Starts Tuesday at Best Buy

If you’ve been thinking about upgrading your TV, getting a smartwatch or trying a voice assistant in your home, now’s your time. Best Buy is having a summer sale with hot deals on the top tech brands that you love.

The savings, available on BestBuy.com and in stores, start tomorrow and continue through the week.

Although you don’t have to wait until then to score big. Some deals – like $150 off iPad Pro 9.7” and Google Home for $99 – are available now.

IMG_2869blog

23 Jun: Von Miller Talks Football, Tech and Geekdom

Von Miller is one of professional football’s hardest-hitting defensive superstars. He’s a fashion icon and TV star. And he’s a self-proclaimed geek with a badge to back it up.

Von, who was deputized as a Geek Squad Agent last year, stopped by the Best Buy Corporate Campus in Richfield, Minnesota, on Friday to talk about football, tech and pose for selfies.

We sat down with the Super Bowl MVP for a few minutes to chat about his life as a geek, his favorite tech and what it’s been like to team up with Geek Squad.

Best Buy - earnings

25 May: Best Buy Reports Better-than-Expected First Quarter Revenue and Profit

Enterprise Comparable Sales Increased 1.6%

Diluted EPS of $0.60

 

MINNEAPOLIS, May 25, 2017 — Best Buy Co., Inc. (NYSE: BBY) today announced results for the first quarter ended April 29, 2017 (“Q1 FY18”), as compared to the first quarter ended April 30, 2016 (“Q1 FY17”). The company reported GAAP diluted earnings per share from continuing operations of $0.60, a decrease of 13% from $0.69 in Q1 FY17, entirely driven by the large CRT settlement proceeds received last year which did not recur in Q1 FY18.

Best Buy - financial results

01 Mar: Best Buy Reports Better-than-Expected Fourth Quarter Results

 

GAAP Diluted EPS Increased 37% to $1.91

Non-GAAP Diluted EPS Increased 27% to $1.95

Full Year GAAP and Non-GAAP Diluted EPS Increased 63% and 28% respectively

MINNEAPOLIS, March 1, 2017 — Best Buy Co., Inc. (NYSE: BBY) today announced results for the fourth quarter (“Q4 FY17”) and year ended January 28, 2017 (“FY17”), as compared to the fourth quarter (“Q4 FY16”) and year ended January 30, 2016 (“FY16”). The company reported Q4 FY17 GAAP diluted earnings per share from continuing operations of $1.91, an increase of 37% from $1.39 in Q4 FY16.

Lockup_on_gray

01 Mar: Best Buy Announces Increased Capital Return to Shareholders

Two-Year $3 Billion Share Repurchase Plan

21% Increase in Quarterly Dividend to $0.34 per Share

MINNEAPOLIS, March 1, 2017 — Best Buy Co., Inc. (NYSE: BBY) today announced that its Board of Directors approved a plan to return excess capital to shareholders as follows:

  • A new $3 billion share repurchase plan expected to be completed over the next two years; and
  • A 21% increase in the regular quarterly dividend to $0.34 per share, effective immediately.

This updated capital return plan is consistent with the company’s long-term capital allocation strategy to first fund operations and investments in growth, including potential acquisitions, and then to return excess free cash flow over time to shareholders through dividends and share repurchases, while maintaining investment grade credit metrics.