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.
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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