best buy

BBY Q3 FY23

22 Nov: Best Buy reports Q3 FY23 results

Comparable Sales Declined 10.4%

GAAP Diluted EPS of $1.22

Non-GAAP Diluted EPS of $1.38

Raises Full-Year Guidance

Resumes Share Repurchases

MINNEAPOLIS, November 22, 2022 — Best Buy Co., Inc. (NYSE: BBY) today announced results for the 13-week third quarter ended October 29, 2022 (“Q3 FY23”), as compared to the 13-week third quarter ended October 30, 2021 (“Q3 FY22”).

Click here to view full release and statements.

  Q3 FY23  Q3 FY22
Revenue ($ in millions)
Enterprise$10,587$11,910
Domestic segment$9,800$10,985
International segment$787$925
Enterprise comparable sales % change1(10.4)%1.6%
Domestic comparable sales % change1(10.5)%2.0%
Domestic comparable online sales % change1(11.6)%(10.1)%
International comparable sales % change1(9.3)%(3.0)%
Operating Income  
GAAP operating income as a % of revenue3.4%5.6%
Non-GAAP operating income as a % of revenue3.9%5.8%
Diluted Earnings per Share (“EPS”)  
GAAP diluted EPS$1.22$2.00
Non-GAAP diluted EPS$1.38$2.08

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

Brazen Blog

21 Nov: Chicago employee thankful for newborn baby, Best Buy’s adoption support

November is National Adoption Month. By sharing stories and offering an array of benefits and resources, Best Buy is committed to supporting employees who are growing their families in this way. Content warning: This article discusses cancer and fertility struggles.

As Wesley and Julie Brazen snuggle their daughter, their faces radiate the joy of being new parents. Dakota Christine — named after Wesley’s late father, Chris — just turned three months old, and after being on a long path to parenthood, the parents are celebrating every milestone.

Best Buy Logo

09 Nov: Best Buy makes Forbes’ Best Employers for Veterans 2022 list

We’re excited to announce that Best Buy was named to Forbes’ list of America’s Best Employers for Veterans 2022. This is our first time on the list.  

Forbes surveyed 7,000 U.S. veteran employees. Participants were asked to rate their employer on career development, diversity, and topics specific to veterans in the workplace, such as recruitment processes and pipelines. Companies were also evaluated on veteran representation in leadership roles and philanthropic efforts geared toward veterans.  

Support for veterans 

Veteran employees can find support at Best Buy through benefits, resources and community. 

ttc blog

07 Nov: Best Buy, Timberwolves and TCL team up for tech equity

Minnesota members of Best Buy Teen Tech Centers® will get a courtside view of the different types of technology careers that bring the Timberwolves and Lynx seasons to life, both on and off the court.

The Best Buy Foundation is partnering with the Minnesota Timberwolves and Lynx, and electronics company TCL, to advance tech equity and empower youth at Twin Cities Teen Tech Centers through career opportunities. The partnership with the Timberwolves and Lynx will give local Teen Tech Center members a behind-the-scenes look at how tech is used during each basketball game.

Forbes female friendly companies

02 Nov: Best Buy ranks 15th on 2022 list of World’s Top Female-Friendly Companies

Best Buy is proud to rank No. 15 on Forbes’ 2022 list of the World’s Top Female-Friendly Companies, which recognizes companies that support women at and outside of the workplace.  

This is our second time on the list. We are one of four retailers in the top 15 spots, and we’re one of seven U.S. companies in the top 20. 

Forbes teamed up with market research company Statista to survey 85,000 women in 36 countries. Respondents were asked to rate their employers on criteria such as pay equity, parental leave and opportunities for advancement.

EnergyAwarenessMonth_Blog

26 Oct: Celebrate Energy Awareness Month all year with Best Buy

October is Energy Awareness Month, and Best Buy is here to help you celebrate by finding products to help reduce your carbon footprint.  

From introducing small daily habits to making your whole house more energy efficient, we have a variety of options that can conserve energy, save money and protect the environment.  

In fact, we’ve set a goal to help our customers reduce their carbon emissions 20% by 2030 through ENERGY STAR-certified products. This will also help save more than a collective $5 billion on customer energy bills. 

BBY_Blog_AppleUpgradePlus

24 Oct: Best Buy launches exclusive Upgrade+ program for Mac laptops

New program makes it easy and affordable for customers to experience and upgrade to the latest Mac laptops.

MINNEAPOLIS, October 24, 2022 — Best Buy is offering a first-of-its-kind upgrade program called Upgrade+ powered by Citizens Pay®, making it easy and affordable for customers to experience and upgrade to the latest Mac laptops with Apple silicon, including MacBook Air and MacBook Pro.  

Through Upgrade+, customers can apply for financing to purchase a new Mac laptop with affordable payments spread across 36 months before deciding if they want to upgrade to a newer device in month 37.

Jeremy and Team Blog

20 Oct: Best Buy employee develops new board game

One of the best things about Best Buy, according to decision science senior manager Jeremy Geenen, is how the company encourages employees to bring their interests and passions into the workplace.

“I love getting to be part of the FINs (focused involvement networks) and other groups around Best Buy and having the support from my team to pursue those passions,” he said.

Jeremy leads the Best Buy Talent Show steering committee, is a leader of the Best Buy Auto Club FIN and loves participating in the Gaming FIN.

St Jude blog

20 Oct: Best Buy joins St. Jude for 10th year to fight childhood cancer

For the 10th holiday season in a row, Best Buy is joining the fight against childhood cancer and other life-threatening diseases as part of the St. Jude Thanks and Giving® campaign.  

Starting this month, we’re asking our customers to consider giving to St. Jude Children’s Research Hospital® when making purchases in stores or online. Every dollar donated will not only help with research, but also ensure families never receive a bill from St. Jude for treatment, travel, housing or food.  

Meta BBY VR Blog

18 Oct: Explore a new reality with Meta Quest Pro demos at Best Buy

You’ve likely heard of the metaverse, an immersive virtual world that allows people to access experiences from the comfort of their own home – like traveling to another country without walking out the front door or hosting coworkers for an interactive meeting just by putting on your VR headset.

To help people dive deeper into the metaverse and truly experience all that it has to offer, Meta introduced its latest device, Meta Quest Pro. And it’s taking the new virtual reality to the next level.

Introducing The New Lively Health & Safety Packages blog

18 Oct: Introducing the new Lively health & safety packages

Best Buy Health’s goal is to enable care at home by building on our strengths in three focal areas, one of which is active aging. We are empowering an aging generation to live the life they want by delivering simple, human-supported health and safety solutions. 

Last year, we launched our new Lively brand, which offers solutions to support adults who want to age independently at home, whether that be through our Jitterbug phones, our medical alert devices, our health & safety services or our offerings through Amazon Alexa and Apple Watch.  

TTC blog 2

13 Oct: Best Buy customers donate $7.5 million to support Teen Tech Centers

We’ve always known Best Buy customers are the best. Now we have proof – over the last 5 months, Best Buy customers stepped up and contributed more than $7.5 million to the Best Buy Foundation in support of Best Buy Teen Tech Centers®. 

Between May 1 and Oct. 1, customers contributed in stores and online to help continue the expansion of the Teen Tech Center network, including programming for career and post-secondary transitions for teens from disinvested communities.  

“It is inspiring to see our customers show up in a big way year after year to support this important cause,” said Andrea Wood, Best Buy’s vice president of social impact.