Best Buy Inc Stock Price, News & Analysis

Best Buy Co., Inc. (NYSE: BBY) reported a 9.3% decline in comparable sales for Q4 FY23, with total revenue dropping to $14.735 billion compared to $16.365 billion in Q4 FY22. GAAP diluted EPS was $2.23, while non-GAAP diluted EPS stood at $2.61. The company announced a 5% increase in quarterly dividends to $0.92 per share and provided FY24 guidance of non-GAAP diluted EPS between $5.70 and $6.50. Domestic online sales decreased by 13.0%. The company expects comparable sales to decline by 3% to 6% in FY24, especially in the first quarter.

Best Buy Co., Inc. (NYSE:BBY) has declared a quarterly cash dividend of $0.88 per common share, payable on January 3, 2023, to shareholders of record by December 13, 2022. As of October 29, 2022, the company had 225,216,862 shares outstanding. This dividend reflects the company’s ongoing commitment to return value to its shareholders.

Best Buy Co., Inc. (NYSE: BBY) reported a 10.4% decline in comparable sales for Q3 FY23, with revenues falling to $10.59 billion, down from $11.91 billion year-over-year. GAAP diluted EPS was $1.22, compared to $2.00 last year. The company raised its full-year guidance, expecting a comparable sales decline of approximately 10%. Domestic gross profit rate decreased to 21.9% due to reduced product margins and increased supply chain costs. Best Buy resumed share repurchases, planning to allocate $1 billion this fiscal year.

Best Buy has launched a new program named Upgrade+ in partnership with Citizens Pay, designed to make it more affordable for customers to purchase and upgrade to the latest Mac laptops, including MacBook Air and MacBook Pro.

The program allows financing over 36 months with payments starting as low as $19.99/month, followed by a final payment in month 37. Customers can choose to upgrade or return their device at the end of the term.

This initiative aims to enhance customer access to technology while promoting environmental sustainability.

The HealthTech Home project, initiated by the Brenda Strafford Foundation and Health Cities, aims to improve aging in place for seniors through innovative technology solutions in a residential setting. This initiative responds to the growing need for effective health support as Canada’s Baby Boomer generation ages. Best Buy Canada is the first technology partner, working to integrate consumer technology in a BSF-owned condo unit, ensuring older adults can age safely at home while monitoring their health. The project also establishes the HealthTech Home Innovation Council to guide policy and technology deployment.

The Board of Directors of Best Buy Co., Inc. (NYSE:BBY) has announced a regular quarterly cash dividend of $0.88 per share. This dividend will be payable on October 11, 2022, to shareholders on record as of September 20, 2022. As of July 30, 2022, the company had 225,065,760 common shares outstanding, indicating a solid commitment to returning value to shareholders.

Best Buy Co., Inc. (NYSE: BBY) reported Q2 FY23 results, revealing a 12.1% decline in comparable sales following a 19.6% growth in Q2 FY22. Total revenue fell to $10.33 billion from $11.85 billion year-over-year. GAAP diluted EPS decreased to $1.35 from $2.90. The company anticipates a comparable sales decline of around 11% for FY23. Despite challenges, Best Buy emphasizes its strong financial position and strategic initiatives to adapt to the shifting market.

Best Buy Co., Inc. (NYSE: BBY) announced its business updates for Q2 FY23, reflecting a decline in comparable sales expected to be around 13%. Despite a 7.5% increase in revenue compared to pre-pandemic levels, the results fall short of previous forecasts due to declining consumer demand amid high inflation. The company anticipates a non-GAAP operating income rate of approximately 3.7%, lower than earlier guidance. Best Buy plans to maintain its quarterly dividend of $0.88 per share while pausing share repurchases. Further updates will be provided with Q2 results on August 30, 2022.

The Board of Directors of Best Buy Co., Inc. (NYSE:BBY) has declared a quarterly cash dividend of $0.88 per share, payable on July 5, 2022. Shareholders on record as of June 14, 2022, will receive this dividend. As of April 30, 2022, the company had 224,621,941 shares outstanding, indicating a strong commitment to returning value to shareholders. This dividend highlights Best Buy's ongoing financial health and strategy to reward its investors.