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. (BBY) maintains its position as North America's leading consumer electronics retailer through continuous innovation in omnichannel retail and technology services. This news hub provides investors and industry observers with direct access to official corporate communications, financial disclosures, and strategic updates from the company.
Our curated collection features essential BBY developments including quarterly earnings reports, product launch announcements, partnership agreements, and leadership updates. Users gain insights into Best Buy's operational strategies, from Geek Squad service expansions to e-commerce platform enhancements, all while maintaining compliance with financial disclosure standards.
Bookmark this page for real-time updates on BBY's market movements, sustainability initiatives, and technology partnerships. For comprehensive understanding of Best Buy's evolving role in consumer electronics retail, combine these timely updates with analysis of their long-term strategic filings and industry positioning.
Sealed Air (NYSE: SEE) is partnering with Best Buy (NYSE: BBY) to introduce packaging solutions that increase the use of recycled content in shipping materials. The collaboration aims to support the circular economy and reduce virgin plastic usage. Sealed Air's offerings include:
1. BUBBLE WRAP® High Recycled Content Bubble Cushioning (90% recycled plastic)
2. BUBBLE WRAP® Recycled Content Inflatable Air Pillows (50% recycled plastic)
3. BUBBLE WRAP® Paper Bubble Mailers (38% recycled paper content)
These products are How2Recycle (H2R) label approved. Sealed Air is also assisting Best Buy in collecting and recycling plastic waste from distribution centers, furthering their commitment to sustainability and waste reduction.
Best Buy Co. (NYSE:BBY) has announced a regular quarterly cash dividend of $0.94 per common share. The dividend will be payable on October 10, 2024, to shareholders of record as of the close of business on September 19, 2024. As of August 3, 2024, Best Buy had 215,052,984 shares of common stock issued and outstanding. This announcement demonstrates the company's commitment to returning value to shareholders through consistent dividend payments.
Best Buy (NYSE: BBY) reported Q2 FY25 results with comparable sales declining 2.3% but GAAP diluted EPS increasing 7% to $1.34. The company raised its FY25 non-GAAP diluted EPS guidance range to $6.10-$6.35. Despite a 3% decrease in domestic revenue, Best Buy saw strong performance in tablets and computing, with 6% comparable sales growth. The company's focus on customer experiences and industry positioning is paying off, with a gross profit rate improvement to 23.5%. Best Buy updated its FY25 guidance, expecting revenue of $41.3-$41.9 billion and comparable sales decline of 1.5-3.0%. The company continues to return value to shareholders through dividends and share repurchases.
Ulike, a global leader in IPL hair removal technology, has announced its entry into the U.S. retail market through a strategic partnership with Best Buy starting June 18, 2024. This marks Ulike's first presence in U.S. brick-and-mortar stores. Ulike's products, including the Air 3 and Air 10 models, will be available both in-store and online at Best Buy. The Air 3, retailing at $329, promises 93% hair reduction in four weeks, while the Air 10, priced at $399, is targeted at thick, stubborn hair and features advanced safety and cooling technologies. To celebrate the launch, a promotional offer is available until July 10. Ulike has sold over 5 million units globally and holds 300 patents, cementing its place as a leader in the at-home beauty tech market.
Best Buy (NYSE: BBY) has announced that its CEO, Corie Barry, and CFO, Matt Bilunas, will participate in a virtual fireside chat at the Oppenheimer 24th Annual Consumer Growth and E-Commerce Conference.
The event is scheduled for June 10, 2024, at 11:15 a.m. Eastern Time. A webcast of the discussion will be available on Best Buy's investor relations website, both live and on-demand after the event. For more details, refer to the full press release on businesswire.com.
Best Buy (NYSE: BBY) announced a regular quarterly cash dividend of $0.94 per common share. The dividend will be paid on July 11, 2024, to shareholders of record as of June 20, 2024. The company had 216,120,730 shares issued and outstanding as of May 4, 2024. This dividend reflects Best Buy's continued commitment to returning value to its shareholders.
Best Buy (NYSE: BBY) released its Q1 FY25 results, showing a 6.1% decline in comparable sales and a revenue decrease to $8.85 billion from $9.47 billion in Q1 FY24. GAAP diluted EPS increased 2% to $1.13, and non-GAAP diluted EPS rose 4% to $1.20. The company maintained its FY25 non-GAAP diluted EPS guidance of $5.75 to $6.20.
The domestic segment reported a 6.8% revenue decline, driven by decreases in appliance, home theater, gaming, and mobile phone sales. Gross profit rate improved to 23.4% due to better performance in services and laptop categories.
International revenue dropped by 3.3%, with a lower gross profit rate of 22.8%. The company returned $252 million to shareholders through dividends and share repurchases. Best Buy forecasts Q2 FY25 comparable sales will decline by approximately 3%.
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