Best Buy Company, Inc. - BBY STOCK NEWS

Best Buy (NYSE:BBY) has declared its regular quarterly cash dividend of $0.94 per common share. The dividend will be paid on January 7, 2025, to shareholders of record as of December 17, 2024. The company reported having 213,764,409 shares of common stock issued and outstanding as of November 2, 2024.

Best Buy (BBY) reported Q3 FY25 results with enterprise revenue of $9.45 billion, down from $9.76 billion in Q3 FY24. Comparable sales declined 2.9%, while GAAP diluted EPS increased 4% to $1.26. The company updated its FY25 guidance, projecting revenue between $41.1-41.5 billion and comparable sales decline of 2.5-3.5%. Domestic revenue decreased 3.3% to $8.70 billion, with online revenue representing 31.4% of total domestic sales. The company maintained its non-GAAP operating income rate guidance of 4.1-4.2% for the full year.

MANSCAPED, the global men's grooming company, announces its expansion into Best Buy Canada, launching in 127 stores and online at bestbuy.ca. This move builds upon their existing partnership with Best Buy in the US. The product lineup includes premium grooming tools and curated kits such as The Lawn Mower® 5.0 Ultra Essentials Kit ($149.99 CAD), The Lawn Mower® 4.0 Pro Refined Kit ($149.99 CAD), and The Beard Hedger® Essentials Kit ($169.99 CAD), among others. The launch coincides with the holiday season, offering Canadian consumers direct access to MANSCAPED's grooming products through Best Buy's retail network.

Best Buy (BBY) announces its Black Friday Sale starting November 21, featuring significant discounts on tech products. Key doorbusters include $270 off Dyson vacuums, $370 off HP gaming laptops, and $700 off LG gaming monitors. The sale includes exclusive Flash Deals through Best Buy Drops™ on Black Friday (Nov. 29). My Best Buy Plus™ and Total™ members get early access to doorbusters. Stores will be closed on Thanksgiving but open from 6 a.m. to 10 p.m. on Black Friday, with virtual expert assistance available from 7 a.m. to 11 p.m. CT.

Best Buy has unveiled its 2024 holiday shopping calendar, with Black Friday deals starting November 8. The retailer will introduce new doorbusters every Friday through December 20, with My Best Buy Plus and Total members getting early access on Thursdays. Key dates include:

- Black Friday Sale: Begins November 21
- Cyber Monday Sale: Starts December 1

Best Buy is enhancing the shopping experience with new in-store displays, a Holiday Gifting Center on BestBuy.com, and Best Buy Drops for exclusive product releases. The company is also extending store hours from November 3 and offering a Holiday Price Match Guarantee and Extended Holiday Return Policy for purchases made between November 1 and December 31.

Best Buy is gearing up for the holiday season with a series of sales events and an expanded tech lineup. The retailer announced several key dates for shoppers:

- Exclusive Member Sale (Sept. 27-29) for My Best Buy Plus™ and Total™ members
- Apple Trade-Up Event (Sept. 30-Oct. 13)
- Prep for the Holidays Event (starts Oct. 21)
- 3-Day Gaming Event (starts Oct. 25)

Best Buy is highlighting its expanded TV selection, including more OLED and large-screen options, an enhanced gaming lineup, and a wide range of appliances. The retailer is also promoting its 'Yes, Best Buy Sells That™' initiative, showcasing unexpected tech items. Customers can utilize the Best Buy App for personalized shopping experiences and take advantage of various pickup and delivery options.

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.