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 has committed $10 million to establish a Community Impact Hub in Los Angeles, part of its five-year plan for community development. Collaborating with the Annenberg Foundation and the Greater LA Education Foundation, Best Buy aims to create up to 12 new Teen Tech Centers by 2023, enhancing career opportunities for local youth. This initiative targets about 3,000 LA-area youth annually, offering training in high-demand careers within the creative and entertainment sectors. The launch will feature a virtual event on May 19 with Eva Longoria Bastón and a performance by Common.
Best Buy Health is introducing Lively Health & Safety Services for Apple Watch users, enhancing safety for older adults. The services, accessible via the Lively app, include 24/7 Urgent Response and Urgent Care, allowing users to receive immediate help from trained agents or medical professionals. A new Live Agent Assist feature will soon activate after detecting a hard fall, ensuring user safety. Users can get discounts on Apple Watch purchases when subscribing to a two-year health plan. Best Buy Health aims to enrich lives through technology and improve health connections.
Best Buy Co., Inc. (NYSE:BBY) has appointed Steven E. Rendle to its board of directors, effective March 18. Rendle, the chairman, president, and CEO of VF Corp, brings over 35 years of experience in the specialty outdoor and action sports industry. His leadership is recognized for guiding VF Corp through significant transformations focused on purpose and profit. Best Buy CEO Corie Barry highlighted Rendle's extensive retail experience and understanding of social issues as critical for the company's strategic goals and consumer connections.
Best Buy Co. (NYSE:BBY) has announced a quarterly cash dividend of $0.70 per common share, payable on April 8, 2021. This dividend targets shareholders of record as of March 18, 2021. As of January 30, 2021, the company had 256,938,020 shares outstanding. This payment reflects Best Buy's commitment to returning value to its shareholders amidst its ongoing business operations.
Best Buy Co. announced its Q4 FY21 results, reporting a revenue of $16.94 billion, up 11.5% year-over-year, primarily driven by strong online sales growth of 89.3%, contributing to 43.2% of total domestic revenue. The company recorded a GAAP diluted EPS of $3.10 and a non-GAAP diluted EPS of $3.48. Operating income margins were stable, though gross profit rates declined due to increased supply chain costs. Looking ahead, Best Buy projects FY22 comparable sales growth between -2% to +1%, amid uncertainty from the pandemic's impacts on consumer behavior. Share repurchase authorization was raised by $5 billion.
Best Buy (NYSE:BBY) announced the appointment of Mario J. Marte to its Board of Directors, effective immediately. Marte, currently the Chief Financial Officer of Chewy, Inc., brings over 20 years of experience in finance, with expertise in financial planning, risk management, and strategy. He played a significant role in Chewy's successful IPO in 2019 and has held senior positions at Hilton Worldwide and American Airlines. CEO Corie Barry highlighted Marte's diverse and strategic thinking as a valuable addition to Best Buy as it pursues its 2025 goals.
Best Buy is enhancing shopping convenience during the holiday season with expanded options. Customers can now utilize contactless curbside pickup extended hours, often retrieving orders within an hour. New same-day delivery options and partnerships with delivery services like Instacart allow quicker access to products. The company has designated 340 stores as ship-from-store hubs, optimizing order fulfillment. Additionally, alternate pickup locations have increased to 16,000, ensuring accessibility for 80% of the U.S. population, while prioritizing safe shopping practices.
Best Buy Co., Inc. (NYSE:BBY) has announced a quarterly cash dividend of $0.55 per common share, reflecting the company's commitment to returning value to its shareholders. This dividend is payable on January 5, 2021, to shareholders on record as of December 15, 2020. As of October 31, 2020, Best Buy had 258,931,526 shares of common stock issued and outstanding.
Best Buy Co. (NYSE: BBY) reported impressive Q3 FY21 results, with total revenue reaching $11.85 billion, up 21.3% year-over-year. Comparable sales surged 23%, benefitting from strong online sales growth of 173.7%. The company's GAAP diluted EPS rose to $1.48, compared to $1.10 in Q3 FY20. Despite challenges, they anticipate continued elevated demand, while cautioning uncertainty due to the pandemic. Best Buy also announced a $40 million donation to the Best Buy Foundation and plans to resume share repurchases in Q4 FY21.
Best Buy announces its Black Friday ad, featuring thousands of deals on popular tech items such as TVs, laptops, and gaming systems. Discounts include $150 off a Lenovo Core i3 laptop and $250 off Samsung 70-inch 4K Smart TVs, with prices starting as low as $99. The sales are ongoing and include multiple promotions throughout November, culminating in full Black Friday deals on November 22. Best Buy is emphasizing safe shopping practices including contactless curbside pickup and same-day delivery, while its stores will remain closed on Thanksgiving Day.
