You are here
Best Buy comparable third-quarter sales declined 6% Earnings reports 

Best Buy comparable third-quarter sales declined 6%

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

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

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

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

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

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

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
Industry notes for the week of May 24 Earnings reports People on the Move 

Industry notes for the week of May 24

Rumours and reports Here are some interesting items from around the internet: Shoebox moves its shutdown date from May 22 to May 27. Robbery at The Camera Store in Canada – staff attacked with bear spray Masked men break Crescent Springs photography store owner’s arm, steal high-end cameras, via WCPO Kodak Pension Plan 2 officially enters PPF assessment in largest claim on lifeboat to date,... Read More
Sony to debut triple-lens smartphone in the U.S. on July 12 Press releases Updates 

Sony to debut triple-lens smartphone in the U.S. on July 12

SAN MATEO, Calif.–(BUSINESS WIRE)–Xperia 1, Sony’s latest vision for mobile technology, packs a host of highlight features such as the world’s first 4K OLED display in a smartphonei with 21:9 CinemaWide™ display (6.5”), and the world’s first Eye AF in a smartphoneii with a triple lens camera and up to 10 fps burst shooting with AF/AE tracking for precision focus and exposure. Sony’s... Read More
Best Buy CFO Corie Barry to become new CEO News People on the Move Press releases 

Best Buy CFO Corie Barry to become new CEO

Hubert Joly to become Executive Chairman of the Board of Directors Corie Barry, current CFO and Chief Strategic Transformation Officer, to become new CEO Mike Mohan to become President and COO MINNEAPOLIS –(BUSINESS WIRE)– Best Buy Co., Inc. (NYSE: BBY) today announced that its board of directors has elected Corie Barry, currently the company’s Chief Financial and Strategic Transformation Officer, to become Chief Executive Officer,... Read More