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. (NYSE: BBY) generates frequent news as a major specialty consumer electronics retailer focused on technology products, services and omnichannel experiences. Company announcements cover topics ranging from quarterly financial results and Board appointments to seasonal sales events, new partnerships and in-store innovations. This news page aggregates those updates so readers can follow how Best Buy executes its strategy across stores, digital channels and services.
Investors can find news releases tied to earnings, where Best Buy reports revenue, comparable sales trends, segment performance and capital allocation decisions such as dividends and share repurchases. These releases often include commentary from management on category performance in areas like computing, gaming and mobile phones, as well as updates on online revenue mix and marketplace expansion.
Operational and commercial news includes announcements about major sales events such as Black Friday, holiday doorbusters and member-focused promotions, along with details on fulfillment options like same-day delivery, curbside pickup and extended store hours. Best Buy also issues news about partnerships and in-store experiences, including collaborations with brands such as IKEA U.S. for kitchen and laundry planning centers or technology partners bringing XR glasses and AI-enabled devices into its stores.
Governance-related items, such as the appointment of new directors with backgrounds in gaming, digital commerce, retail and finance, are also communicated through press releases and SEC-related news. By reviewing the BBY news feed, readers can track how Best Buy evolves its assortment, services, store experiences and leadership over time. Bookmark this page to access a consolidated stream of company-issued updates and related coverage about Best Buy’s activities in the consumer electronics and retail trade sector.
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
Best Buy Co., Inc. (NYSE: BBY) reported a significant revenue decline in Q1 FY23, with total revenue of $10.6 billion, down from $11.6 billion in Q1 FY22. Comparable sales decreased by 8.0%, influenced by a slowdown in several product categories. GAAP diluted EPS stood at $1.49, a drop from $2.32 a year earlier. The company revised its FY23 guidance, predicting revenue between $48.3 billion and $49.9 billion, and a comparable sales decline of 3.0% to 6.0%. Shareholder returns included $654 million in share repurchases and dividends during the quarter.
Best Buy has launched a new Standalone Haul-Away service enabling customers to recycle their old tech directly from home, marking a significant step in their sustainability efforts. This service, available for
The Board of Directors of Best Buy Co., Inc. (NYSE:BBY) has declared a regular quarterly cash dividend of
Best Buy Co., Inc. (NYSE: BBY) reported a 2.3% decline in Q4 comparable sales, down from 12.6% growth in Q4 FY21. The Q4 revenue totaled $16.4 billion, impacted by constrained inventory and reduced store hours due to Omicron. GAAP diluted EPS was $2.62, while non-GAAP diluted EPS was $2.73. For FY23, Best Buy expects diluted EPS between $8.85 and $9.15 and projects FY25 revenue of $53.5 billion to $56.5 billion. The company announced a 26% increase in its quarterly dividend to $0.88 per share.
Best Buy (NYSE: BBY) is set to present at the BofA Securities Consumer and Retail Technology Conference on March 8, 2022, at 8:50 a.m. Eastern Time. The event will be accessible via a live webcast at www.investors.bestbuy.com both live and post-event. For further inquiries, contact Mollie O’Brien for investors and Carly Charlson for media.
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