Earnings

By Best Buy Company News

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.

Read More
2018_rebrand_blog_logo_LEAD_ART
By Best Buy Company News

21 May: Best Buy Reports Q1 FY21 Results

Enterprise Revenue Decreased 6.3%

Domestic Comparable Online Sales Increased 155.4%

GAAP Diluted EPS of $0.61

Non-GAAP Diluted EPS of $0.67

MINNEAPOLIS, May 21, 2020 — Best Buy Co., Inc. (NYSE: BBY) today announced results for the 13-week first quarter ended May 2, 2020 (“Q1 FY21”), as compared to the 13-week first quarter ended May 4, 2019 (“Q1 FY20”).

(Click here for a PDF version. Click here to view full release and statements.)

      
 Q1 FY21Q1 FY20
Revenue ($ in millions)
Enterprise$8,562 $9,142   
Domestic segment$7,915 $8,481   
International segment$647 $661   
Enterprise comparable sales % change1 (5.3)% 1.1%  
Domestic comparable sales % change1 (5.7)% 1.3% 
Domestic comparable online sales % change1 155.4% 14.5%  
International comparable sales % change1 0.2% (1.2)%  
Operating Income      
GAAP operating income as a % of revenue 2.7% 3.7%  
Non-GAAP operating income as a % of revenue  2.9% 3.8%  
Diluted Earnings per Share (“EPS”)      
GAAP diluted EPS$0.61 $0.98   
Non-GAAP diluted EPS$0.67 $1.02   

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

Read More
2018_rebrand_blog_logo_LEAD_ART
By Best Buy Company News

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.”

Read More
1 2 3 4 5