Company news


30 Aug: Best Buy reports Q2 FY23 results

Comparable Sales Declined 12.1% Compared to 19.6% Growth in Q2 FY22

GAAP Diluted EPS of $1.35

Non-GAAP Diluted EPS of $1.54

MINNEAPOLIS, August 30, 2022 — Best Buy Co., Inc. (NYSE: BBY) today announced results for the 13-week second quarter ended July 30, 2022 (“Q2 FY23”), as compared to the 13-week second quarter ended July 31, 2021 (“Q2 FY22”).

Click here to view full release and statements.

  Q2 FY23  Q2 FY22
Revenue ($ in millions)
Domestic segment$9,569$11,011
International segment$760$838
Enterprise comparable sales % change1(12.1)%19.6%
Domestic comparable sales % change1(12.7)%20.8%
Domestic comparable online sales % change1(14.7)%(28.1)%
International comparable sales % change1(4.2)%5.0%
Operating Income  
GAAP operating income as a % of revenue3.6%6.7%
Non-GAAP operating income as a % of revenue4.1%6.9%
Diluted Earnings per Share (“EPS”)  
GAAP diluted EPS$1.35$2.90
Non-GAAP diluted EPS$1.54$2.98

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

21 Jul: Best Buy Provides Updates On Evolution Of Employee Pay And Sales Performance

Increasing Starting Hourly Wage to $15 on Aug. 2

Quarter-to-Date Sales Up Approximately 2.5% Compared to Last Year

Sales Up Approximately 15% Compared to Last Year Since Stores
Re-opened for Customer Shopping

MINNEAPOLIS, July 21, 2020 — Best Buy Co., Inc. (NYSE: BBY) today announced updates related to employee pay evolution and Q2 FY21 quarter-to-date sales performance.

Employee Pay Evolution

The company is raising the starting hourly wage for all Domestic employees to $15 effective Aug. 2.

“Strong consumer demand, combined with shopping experiences that emphasize safety and convenience, has helped produce our sales results to date,” Best Buy CEO Corie Barry said.


16 Jun: Best Buy Announces Plans For Juneteenth, Election Day

As we shared a couple of weeks ago in a letter from our CEO Corie Barry, Best Buy is committed to doing better; specifically, taking action to address the racial injustice in our society and communities. We’ve created a diverse task force within the company to find and create meaningful change. We’ve committed to creating more than 100 Teen Tech Centers, designed to bridge the opportunity gap and the digital divide, for teens in disinvested communities. And we’ve founded a new public-private effort to provide computers and internet access to thousands of youth who have neither.


28 Apr: An Update From Best Buy CEO Corie Barry On How We Can Safely Get You What You Need

I genuinely hope you and your family are staying safe and feeling well. We all know the world continues to react to an unprecedented pandemic, and I wanted to update you on the ways in which Best Buy is evolving to meet our customers’ vital technology and appliance needs. Just as importantly, I want to share a big step forward in how we are now able to better serve you in your home.  

Across the country — in virtually every city, county and state in which there is a stay-at-home order — we have been designated an “essential” retailer.


15 Apr: Best Buy Provides Business Update Related To COVID-19

MINNEAPOLIS, April 15, 2020 — Best Buy Co., Inc. (NYSE: BBY) today announced business updates related to the novel coronavirus (COVID-19).

Best Buy CEO Corie Barry said, “The situation we are all facing as a result of the COVID-19 pandemic is truly unprecedented. As we previously communicated, we made the decision for the health and safety of our customers and employees to shift our stores to a temporary enhanced curbside service-only model starting March 22. At that time, we also suspended all in-home delivery, installation and repairs.”


19 Mar: A Note From Best Buy CEO Corie Barry

Earlier this week, we announced changes to how Best Buy will run our business in light of the COVID-19 pandemic. Against this backdrop, I wanted to share some of my thoughts about what we’re facing and how Best Buy is responding. 

Right now, our role as a consumer electronics retailer is rapidly shifting and we are striving to make the best decisions with two goals in mind: The first is to protect our customers, employees and their families. The second is to do the best we can to serve the millions of Americans who are looking to us for increasingly vital technology tools to stay connected, as well as household necessities. 


17 Mar: Update From Best Buy

The situation we’re facing as a company and as individuals is unprecedented and changing at a pace all of us are working to keep up with. We are making the best decisions we can with two goals in mind: protecting employees, customers and their respective families, while trying our best to serve the millions of Americans who rely on us for increasingly vital technology that keeps them connected to their school and work, and for the appliances necessary to help them store and prepare food.


13 Sep: Best Buy earns another Dow Jones sustainability honor

Best Buy has been named to the Dow Jones Sustainability Index (DJSI) for the eighth consecutive year. In addition to being included on the North America Index, we are one of only two U.S. retailers to be named to the Dow Jones World Index.

The indices rank the sustainability performance of the largest 2,500 companies in the world. They follow a best-in-class approach to measure and compare companies on environmental, social and corporate governance criteria. The Indices serve as a benchmarking tool for investors who incorporate sustainability performance into their portfolios.


12 Sep: Best Buy, Melinda Gates, tech leaders to fund opportunities for women of color

Best Buy has joined Melinda Gates and a group of leading technology companies on a mission to double the number of underrepresented women of color (black, Latina and Native American) who earn computing degrees by 2025.

While women are severely underrepresented in the tech industry, the situation is particularly grim for women of color. In a study released today, Melinda Gates and McKinsey & Company report that the share of black, Latina and Native American women receiving computing degrees has declined from 6 percent to 4 percent over the past decade

Now the newly formed Reboot Representation Tech Coalition brings Best Buy together with Adobe, Applied Materials, BNY Mellon, Dell, Intel, LinkedIn, Microsoft, Oath, Qualcomm, Symantec and Melinda’s investment and incubation company, Pivotal Ventures, to invest $12 million to create opportunities for women of color.


28 Aug: Best Buy Reports Better-than-Expected Q2 FY19 Results

Enterprise Comparable Sales Increased 6.2%

GAAP Diluted EPS Increased 28% to $0.86

Non-GAAP Diluted EPS Increased 32% to $0.91

Raising FY19 Financial Guidance


MINNEAPOLIS, August 28, 2018 — Best Buy Co., Inc. (NYSE: BBY) today announced results for the second quarter ended August 4, 2018 (“Q2 FY19”), as compared to the second quarter ended July 29, 2017 (“Q2 FY18”). The company reported Q2 FY19 GAAP diluted earnings per share of $0.86, an increase of 28% from $0.67 in Q2 FY18.


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.