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Best Buy reports first-quarter revenues down 6% Earnings reports News 

Best Buy reports first-quarter revenues down 6%

GaryPageau
Best Buy Co., Inc announced results for the 13-week first quarter ended May 4, 2024, as compared to the 13-week first quarter ended April 29, 2023. Domestic revenue of $8.20 billion decreased 6.8% versus last year primarily driven by a comparable sales decline of 6.3%. From a merchandising perspective, the largest drivers of the comparable sales decline on a weighted... Read More
GoPro announces retail expansion at Best Buy Partnerships 

GoPro announces retail expansion at Best Buy

GaryPageau ,
GoPro, Inc. announced a large-scale merchandising rollout and sales program at Best Buy, combining the installation of completely redesigned product displays, an assisted sales program, and in-store and digital marketing. GoPro cameras and accessories will be displayed in nearly 900 Best Buy stores across North America, including in more than 250 specialty Camera Experience Shops (CES). Best Buy’s CES locations will feature... Read More
Best Buy comparable third-quarter sales declined 6% Earnings reports 

Best Buy comparable third-quarter sales declined 6%

GaryPageau
Best Buy Co., Inc. announced results for the 13-week third quarter ended Oct. 28, 2023, as compared to the 13-week third quarter ended Oct. 29, 2022. Q3 FY24  Q3 FY23 Revenue ($ in millions) Enterprise $9,756 $10,587 Domestic segment $8,996 $9,800 International segment $760 $787 Enterprise comparable sales % change1 (6.9)% (10.4)% Domestic comparable sales % change1 (7.3)% (10.5)% Domestic... Read More
Best Buy sees first-quarter revenue decline Earnings reports News 

Best Buy sees first-quarter revenue decline

GaryPageau
Best Buy Co., Inc. announced lower first-quarter revenues. Domestic revenue of $8.80 billion decreased 11.0% versus last year primarily driven by a comparable sales decline of 10.4%. International revenue of $666 million decreased by 11.6% versus last year.   Q1 FY24  Q1 FY23 Revenue ($ in millions) Enterprise $9,467 $10,647 Domestic segment  $8,801 $9,894 International segment $666 $753 Enterprise comparable sales... Read More
Best Buy announces mail-in tech recycling program Marketing News 

Best Buy announces mail-in tech recycling program

GaryPageau ,
Best Buy announced a nationwide program where consumers can recycle old electronics by mail. Starting this month, consumers can order a prepaid Best Buy Technology Recycling Box and ship off their old electronics for recycling. “We continue to build on our commitment to be there for our customers throughout the entire lifecycle of their products by making recycling simple and... Read More
Best Buy reports 4Q sales decreased 2.3% but FY2022 showed growth News 

Best Buy reports 4Q sales decreased 2.3% but FY2022 showed growth

GaryPageau
Best Buy Co. Inc. announced results for the fourth quarter ended Jan. 29, 2022, with Q4 comparable sales decreasing 2.3% compared to 12.6% growth in Q4 2021. “Our teams showed remarkable execution and dedication to serving our customers throughout the important gift-giving season,” said Corie Barry, Best Buy CEO. “In Q4, we drove improvement in year-over-year customer satisfaction metrics across... Read More
Best Buy is piloting paid membership program in 60 markets News 

Best Buy is piloting paid membership program in 60 markets

GaryPageau
Best Buy announced a new pilot membership program, called Best Buy Beta, proving customers in select markets benefits including exclusive member pricing, unlimited Geek Squad technical support, up to two years of protection on most product purchases, free standard shipping and delivery, and free installation on most products and appliances. The cost is $199.99 per year or $179.99 per year... Read More
Best Buy reports strong third-quarter results Earnings reports 

Best Buy reports strong third-quarter results

GaryPageau
Best Buy Co., Inc. announced third-quarter results showed comparable stores sales were up 23%, compared to the 13-week third quarter ended Nov. 2, 2019. Best Buy’s domestic revenue of $10.85 billion increased 21.0% versus last year., driven by comparable sales growth of 22.6%, which was partially offset by the loss of revenue from permanent store closures in the past year.... Read More
Best Buy furloughs 51,000 employees, updates earnings guidance News 

Best Buy furloughs 51,000 employees, updates earnings guidance

GaryPageau
Best Buy Co. Inc. announced business updates related to COVID-19 including, effective April 19, the temporarily furloughing of approximately 51,000 Domestic hourly store employees, including nearly all part-time employees. The company is retaining approximately 82% of its full-time store and field employees on its payroll, including the vast majority of In-Home Advisors and Geek Squad Agents. Furloughed employees will retain... Read More