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Best Buy Company, Inc. - BBY STOCK NEWS

Welcome to our dedicated page for Best Buy Company news (Ticker: BBY), a resource for investors and traders seeking the latest updates and insights on Best Buy Company stock.

Best Buy Company, Inc. (NYSE: BBY) is the leading provider of technology products, services, and solutions in North America. Serving consumers, small business owners, and educators, Best Buy offers expert service at unbeatable prices across its stores, via Geek Squad agents, and through its online platforms including bestbuy.com and the Best Buy app. With operations in the U.S., Canada, and Mexico, Best Buy ensures that over 70% of the population in these regions lives within a 15-minute drive of a Best Buy store.

In fiscal year 2023, Best Buy reported consolidated sales of $43.5 billion, making it the largest pure-play consumer electronics retailer in the U.S. The company holds approximately 8.3% of the North American market share, with a dominant 33% share of offline sales. The product categories driving these sales include mobile phones, tablets, computers, and appliances. Recent investments in e-commerce fulfillment have seen this channel grow significantly, now representing a mid-30% proportion of total sales.

Best Buy's workforce is a cornerstone of its success, recognized for their knowledge, passion, and commitment. The company offers a competitive pay structure, benefits, and rewards, including an industry-leading employee discount on the latest products. Best Buy is committed to environmental, social, and governance (ESG) issues, implementing programs like the Best Buy Teen Tech Center® network and various recycling initiatives.

Recent achievements include a strategic partnership with Bell Canada to rebrand 165 The Source stores to Best Buy Express, expanding Best Buy’s reach in Canada. Another notable collaboration involves FaZe Clan and SteelSeries, launching exclusive co-branded gaming products available at Best Buy locations across North America. Additionally, Best Buy has teamed up with Microsoft and Junk Kouture to promote e-waste recycling and sustainability, engaging young creatives in these initiatives.

News

Best Buy Reports Fourth Quarter Results

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Best Buy Co., Inc. (NYSE: BBY) reported a 4.8% decline in comparable sales for Q4 FY24, with GAAP diluted EPS of $2.12 and non-GAAP diluted EPS of $2.72. The company increased its quarterly dividend by 2% to $0.94 per share and expects FY25 non-GAAP diluted EPS of $5.75 to $6.20. Despite lower sales, Best Buy CEO Corie Barry highlighted strong operational execution, profitability, and customer experience improvements.
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Best Buy Canada and Bell Canada partner to deliver the next evolution of consumer electronics retail for Canadian consumers

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Best Buy Canada and Bell Canada have entered into a strategic partnership to operate 165 consumer electronics retail stores in Canada. The Source, a subsidiary of Bell, will be rebranded as Best Buy Express and offer consumer electronics from Best Buy along with exclusive telecommunications services from Bell. The partnership aims to deliver an exceptional shopping experience for Canadians, leveraging the strengths of both companies. Best Buy will expand its presence in malls and smaller communities, offering an easy-to-navigate store format. Best Buy Express is expected to open in locations across Canada starting in the second half of 2024, providing customers with a wider selection of consumer electronics and the option for full delivery or pick up of online orders in Best Buy or Best Buy Express stores.
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Best Buy Announces Regular Quarterly Cash Dividend

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Best Buy Co., Inc. (BBY) authorizes a regular quarterly cash dividend of $0.92 per common share. The dividend is payable on January 2, 2024, to shareholders of record as of December 12, 2023. The company had 216,442,078 shares of common stock issued and outstanding as of October 28, 2023.
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Best Buy Reports Third Quarter Results

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Best Buy Co., Inc. (BBY) reported a 6.9% decline in comparable sales for Q3 FY24 with a GAAP diluted EPS of $1.21 and non-GAAP diluted EPS of $1.29. The company lowered its annual revenue outlook and expects a decline in comparable sales for FY24.
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Best Buy’s Black Friday Sale Begins Nov. 17

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Best Buy (BBY) Black Friday Sale Offers Thousands of Deals on Hottest Items. My Best Buy Plus™ and My Best Buy Total™ Members Receive Deeper Discounts. The sale, starting on Nov. 17, includes significant savings on electronics, appliances, and gadgets. 30 deals are previewed, with price cuts on TVs, laptops, smartphones, and home appliances.
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Best Buy Health and Mass General Brigham collaborate to meet patients’ growing Healthcare at Home needs

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Best Buy Health (BBY) and Mass General Brigham Collaborate to Transform Healthcare Delivery to Patients' Homes
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FAZE CLAN AND STEELSERIES LAUNCH CO-BRANDED GAMING GEAR AS PART OF MULTI-YEAR PARTNERSHIP

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FaZe Clan and SteelSeries have announced the launch of a new line of co-branded gaming products, available exclusively at Best Buy retail locations and online. The limited-edition collection features a headset, keyboard, mouse, and mousepad, all designed with FaZe Clan's black and red colorways and iconic logo. The products offer advanced features such as HiFi audio, 360° Spatial Audio, fast charging, and durable keycaps. This collaboration is an expansion of the partnership between FaZe Clan and SteelSeries, which began in 2018.
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Best Buy Canada Launches a Month of Black Friday Deals

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Best Buy Canada is starting its early Black Friday sales on November 1, 2023, both in-store and online. The sale will feature hundreds of deals across all product categories. Canadians are encouraged to shop early to secure the products they want and access more deals. The Black Friday sale officially begins on November 17, and the Cyber Monday sale will run from November 27 to 30. Best Buy offers various shopping options, including in-store, online with 2-day shipping, and quick store pickup. The extended returns policy provides more time for returns. Some of the top deals include Sony WF1000XM5/B In-Ear Noise Cancelling True Wireless Earbuds, JBL Charge 5 Waterproof Bluetooth Wireless Speaker, Bella Pro Touchscreen Air Fryer, Bose QuietComfort 45 Over-Ear Noise Cancelling Bluetooth Headphones, and ASUS Vivobook Go 15.6" Laptop.
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Best Buy Reveals Holiday Calendar, Early Black Friday Deals for Everyone Start Oct. 30

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Best Buy announces its holiday shopping calendar and early Black Friday deals, offering savings events and exclusive discounts for members. The retailer will have extended store hours and virtual sales experts available for assistance. Best Buy also highlights its Holiday Price Match Guarantee and Extended Holiday Return and Exchange Policy.
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Best Buy to Sell Continuous Glucose Monitoring Systems

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Best Buy to offer prescription continuous glucose monitoring systems through their new platform
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FAQ

What is the current stock price of Best Buy Company (BBY)?

The current stock price of Best Buy Company (BBY) is $85.55 as of December 20, 2024.

What is the market cap of Best Buy Company (BBY)?

The market cap of Best Buy Company (BBY) is approximately 18.1B.

What does Best Buy Company, Inc. specialize in?

Best Buy specializes in providing technology products, services, and solutions to consumers, small businesses, and educators.

How many locations does Best Buy operate?

Best Buy operates nearly 1,000 retail stores across North America, with a significant presence in the U.S., Canada, and Mexico.

What are Best Buy's main product categories?

The main product categories include mobile phones, tablets, computers, and appliances.

How has Best Buy adapted to e-commerce trends?

Best Buy has made significant investments in e-commerce fulfillment, leading to a mid-30% proportion of sales coming from online channels.

What is the Best Buy Express initiative?

Best Buy Express is a new format for smaller stores in Canada, resulting from a partnership with Bell Canada to rebrand 165 The Source locations.

Can you tell me about Best Buy's recent partnerships?

Recent partnerships include collaborations with FaZe Clan and SteelSeries for exclusive gaming products, and with Bell Canada for the Best Buy Express stores.

What is the Best Buy Teen Tech Center® network?

It is a nationwide program supporting youth to connect with technology and advance their education.

How is Best Buy involved in sustainability?

Best Buy runs various recycling programs and collaborates with partners like Microsoft and Junk Kouture to promote eco-conscious habits.

What employee benefits does Best Buy offer?

Best Buy offers competitive pay, comprehensive benefits, and an industry-leading employee discount on products.

Where can I find more information about career opportunities at Best Buy?

For more information on career opportunities, you can follow Best Buy on Twitter @bestbuy_careers or visit their career site at http://www.bestbuy-jobs.com/.

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Best Buy Company, Inc.

NYSE:BBY

BBY Rankings

#579 Ranked by Market Cap
#694 Ranked by Dividends

BBY Stock Data

18.08B
195.02M
8.73%
86.96%
6.52%
Specialty Retail
Retail-radio, Tv & Consumer Electronics Stores
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United States of America
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