Welcome to our dedicated page for Best Buy news (Ticker: BBY), a resource for investors and traders seeking the latest updates and insights on Best Buy stock.
Best Buy Co., Inc. reports news about its consumer electronics retail business, including merchandise categories such as computing and mobile phones, consumer electronics, appliances, entertainment and services. The company operates through Domestic and International segments and generates most revenue from its Domestic business.
Recurring updates cover quarterly operating results, comparable sales commentary, cash dividends, membership programs such as My Best Buy Plus and My Best Buy Total, credit-card rewards, seasonal promotions, fulfillment options and store and digital customer experience initiatives. Corporate news also includes board composition, executive leadership and investor conference participation.
The Board of Directors of Best Buy Co., Inc. (NYSE:BBY) has declared a quarterly cash dividend of $0.70 per share, set to be paid on January 4, 2022. This dividend is for shareholders on record as of December 14, 2021. As of October 30, 2021, the company had 243,762,453 shares outstanding.
Best Buy Co., Inc. (NYSE: BBY) reported Q3 FY22 results, revealing a 2.0% increase in domestic comparable sales, building on last year's 22.6%. The company's GAAP diluted EPS rose 35% to $2.00, while non-GAAP diluted EPS increased by 1% to $2.08. Best Buy raised its full-year enterprise comparable sales growth forecast to 10.5%-11.5%. Revenue for Q3 FY22 was $11.91 billion, a marginal increase from $11.85 billion in Q3 FY21. Online sales saw a decline of 10.1%, despite overall digital sales remaining strong. The company also announced a quarterly dividend of $0.70.
Best Buy announces the launch of its Black Friday deals starting on November 19, featuring thousands of discounts on tech products. Key offers include $99 Chromebooks, $500 off Samsung laptops, and major discounts on TVs and headphones. The company is also closed on Thanksgiving and provides extended holiday returns until January 16.
In addition, Best Buy Totaltech members will receive exclusive deals.
Best Buy is gearing up for the holiday season with a revamped shopping schedule, including Black Friday deals starting on October 19. Customers can expect significant discounts on popular tech items such as a Samsung 70-inch 4K Smart TV priced at $599 and Beats Studio 3 headphones at $169. The Black Friday Price Guarantee ensures that customers will receive refunds if prices drop before Black Friday. Additionally, Best Buy will implement various shopping options, including curbside pickup and next-day delivery, to enhance customer convenience.
Best Buy has launched its new Totaltech membership program nationwide for $199.99 annually. This program offers unlimited Geek Squad support, 24/7 VIP service, exclusive member pricing, and various product protection benefits. Members will also enjoy special deals during the holiday season, including access to hard-to-find products and exclusive Member Monday events starting October 18. Current members of related services will automatically upgrade to Totaltech membership.
Amazon and Best Buy have launched new smart TVs featuring Fire TV built-in from Pioneer and Toshiba. The Pioneer series includes 4K UHD options in 43” and 50” sizes, set to ship late September and early November, respectively. The Toshiba series features far-field voice capabilities via Alexa and will be available in larger sizes, launching in Spring 2022. This collaboration expands the existing range of over 80 Fire TV models since 2018, responding to increased consumer demand with millions sold and average ratings of 4.4 stars.
Best Buy is expanding its offerings with a new lineup of electric transportation products, including e-bikes, scooters, and mopeds. This collection features top brands like Unagi, Bird, Segway-Ninebot, SUPER73, and SWFT, available on BestBuy.com and select stores starting in October. Customers can take advantage of savings up to $300 during the upcoming Labor Day Sale, commencing on September 3. Additionally, Geek Squad offers home assembly services for select e-bikes for $99.99.
The Board of Directors of Best Buy (NYSE:BBY) has announced a quarterly cash dividend of $0.70 per common share. This dividend will be payable on October 5, 2021, to shareholders on record as of September 14, 2021. As of July 31, 2021, the company had a total of 247,336,600 shares outstanding.
Best Buy Co., Inc. (NYSE: BBY) reported robust Q2 FY22 results, with enterprise comparable sales increasing by 20% and GAAP diluted EPS rising 76% to $2.90. Revenue reached $11.85 billion, a 20% increase from the previous year. The company has raised its full-year sales growth outlook to 9% to 11%, up from 3% to 6%. Online sales, however, fell 28.1%. For Q3 FY22, Best Buy expects revenue between $11.4 billion and $11.6 billion with a comparable sales decline of -1% to -3%.
Best Buy has committed up to $10M to Brown Venture Group LLC's inaugural fund aimed at supporting Black, Latino, and Indigenous technology entrepreneurs. This commitment is part of Best Buy's broader strategy to spend at least $1.2 billion with diverse businesses by 2025. The partnership emphasizes collaboration with communities of color to foster economic growth and innovation. Brown Venture Group, established in 2018, aims to raise $50 million to invest in underrepresented entrepreneurs and will leverage local startup talent for investments across various tech industries.