Marte is the chief financial officer of Chewy Inc.
Corie Barry
Enterprise Comparable Sales Increased 23%
Domestic Comparable Online Sales Increased 174%
GAAP Diluted EPS Increased 35% to $1.48
Non-GAAP Diluted EPS Increased 82% to $2.06
MINNEAPOLIS, November 24, 2020 — Best Buy Co., Inc. (NYSE: BBY) today announced results for the 13-week third quarter ended October 31, 2020 (“Q3 FY21”), as compared to the 13-week third quarter ended November 2, 2019 (“Q3 FY20”).
(Click here for a PDF version. Click here to view full release and statements.)
| Revenue ($ in millions) | Q3 FY21 | Q3 FY20 |
| Enterprise | $11,853 | $9,764 |
| Domestic segment | $10,850 | $8,964 |
| International segment | $1,003 | $800 |
| Enterprise comparable sales % change1 | 23.0% | 1.7% |
| Domestic comparable sales % change1 | 22.6% | 2.0% |
| Domestic comparable online sales % change1 | 173.7% | 15.0% |
| International comparable sales % change1 | 27.3% | (1.9)% |
| Operating Income | ||
| GAAP operating income as a % of revenue | 4.7% | 4.0% |
| Non-GAAP operating income as a % of revenue | 6.1% | 4.2% |
| Diluted Earnings per Share (“EPS”) | ||
| GAAP diluted EPS | $1.48 | $1.10 |
| Non-GAAP diluted EPS | $2.06 | $1.13 |
For GAAP to non-GAAP reconciliations of the measures referred to in the above table, please refer to the attached supporting schedule.
This is Corie’s second year as our CEO and her second year on the list.
This is our first time on list. We climbed more than 200 spots in ranking.
Sustainability has been at the core of what we do at Best Buy for decades, and now we’re making our biggest commitment yet to positively impact the planet.
Today, we announced we have signed The Climate Pledge, a commitment to be carbon neutral across our business by 2040 — a decade faster than our previous goal of 2050.
The Climate Pledge was co-founded by Amazon and Global Optimism in 2019 to mobilize companies across multiple business sectors to reach net-zero carbon emissions by 2040, 10 years ahead of the United Nations’ Paris Agreement on Climate Change.
Enterprise Comparable Sales Increased 5.8%
Domestic Comparable Online Sales Increased 242%
GAAP Diluted EPS Increased 85% to $1.65
Non-GAAP Diluted EPS Increased 58% to $1.71
MINNEAPOLIS, August 25, 2020 — Best Buy Co., Inc. (NYSE: BBY) today announced results for the 13-week second quarter ended August 1, 2020 (“Q2 FY21”), as compared to the 13-week second quarter ended August 3, 2019 (“Q2 FY20”).
(Click here for a PDF version. Click here to view full release and statements.)
| Revenue ($ in millions) | Q2 FY21 | Q2 FY20 |
| Enterprise | $9,910 | $9,536 |
| Domestic segment | $9,128 | $8,821 |
| International segment | $782 | $715 |
| Enterprise comparable sales % change1 | 5.8% | 1.6% |
| Domestic comparable sales % change1 | 5.0% | 1.9% |
| Domestic comparable online sales % change1 | 242.2% | 17.3% |
| International comparable sales % change1 | 15.1% | (1.9)% |
| Operating Income | ||
| GAAP operating income as a % of revenue | 5.7% | 3.3% |
| Non-GAAP operating income as a % of revenue | 5.9% | 4.0% |
| Diluted Earnings per Share (“EPS”) | ||
| GAAP diluted EPS | $1.65 | $0.89 |
| Non-GAAP diluted EPS | $1.71 | $1.08 |
For GAAP to non-GAAP reconciliations of the measures referred to in the above table, please refer to the attached supporting schedule.
Best Buy is proud to be among 98 companies named to the 2020 Diversity Best Practices Inclusion Index.
We’re one of just two retailers on the index, which helps us understand trends and gaps in demographic representation within our organization.
“I believe everyone should have an equal opportunity to achieve their dreams and be provided with access to resources and the support to do so,” said Amelia Hardy, vice president of inclusion and diversity. “Best Buy is committed to becoming one of the best places to work by creating space and experiences to allow employees, customers and communities to succeed.”
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.
Best Buy is proud to announce that we have signed on as a founding member of the Parity.org ParityPledge in Support of People of Color.
It’s a public commitment to interview at least one qualified person of color for every open leadership role that is at the vice president level or higher, including the C-suite and board of directors. There are no quotas or deadlines.
This latest pledge is in addition to the ParityPledge in Support of Women, which we previously signed to increase the representation of women in leadership.
Best Buy is proud to be named to the list of Best Companies for Women to Advance 2020, a new list from Parity.org that recognizes companies that have made significant commitments to the advancement of women.
We were one of only 35 companies that made the list, including just 11 large companies (5,000 or more employees).
“We are determined to be an inclusive and diverse company, not just because it’s good business sense but because it’s our fundamental obligation as leaders and as human beings,” said Kamy Scarlett, Best Buy chief human resources officer.
Best Buy is teaming up with other prominent Minnesota organizations to help fight the digital divide across the state.
We’re proud to be one of the leaders of the Partnership for a ConnectedMN, a public-private partnership announced by Minnesota Gov. Tim Walz on June 30. Through avenues like grantmaking, the partnership will support initiatives that help K-12 students from disinvested communities across the state of Minnesota get access to the computing devices and internet access they need to facilitate distance learning and access critical support services.
Today’s Supreme Court decision is encouraging news for “Dreamers,” the approximately 700,000 undocumented young adults who were brought to the United States as children and are able to continue the lives they’ve always known in this country under the Deferred Action for Childhood Arrivals (DACA) program.
“Dreamers play an important role in our everyday lives as coworkers, business owners, friends and neighbors. They make an enormous, positive impact on American companies, communities and the economy, including as essential health care workers on the front lines of the COVID-19 pandemic,” said Best Buy Chief Executive Officer Corie Barry.