GoPro Announces Retail Expansion at Best Buy

Rhea-AI Summary

GoPro, Inc. announced a retail expansion at Best Buy stores across North America, enhancing the in-store experience with redesigned product displays, an assisted sales program, and increased accessory space. The goal is to provide customers with a complete GoPro experience and expert advice from trained Best Buy staff.

Positive

• Large-scale retail expansion at Best Buy stores across North America

• Redesigned world-class product displays and expanded accessory space

• Assisted sales program and in-store/digital marketing for a complete GoPro experience

• Special training for Best Buy store associates to provide guidance to customers

Negative

• None.

SAN MATEO, Calif., May 13, 2024 /PRNewswire/ -- Today, GoPro, Inc. (NASDAQ: GPRO) announced a large-scale merchandising rollout and sales program at Best Buy, one of the world's largest specialty consumer electronics retailers. The retail expansion combines the installation of completely redesigned world-class product displays, an assisted sales program, and in-store and digital marketing to deliver a complete GoPro experience to customers.

GoPro cameras and accessories will be displayed in nearly 900 Best Buy stores across North America, including in more than 250 specialty Camera Experience Shops (CES). Best Buy's CES locations will feature expanded product displays, with twice the accessory space to offer customers a wider selection to see and discover the latest from GoPro.

"We believe that combining our expanded shelf space and brand presence with Best Buy's knowledgeable sales staff will ensure a terrific in-store experience for GoPro customers," said Dean Jahnke, GoPro's Senior Vice President of Global Sales and Channel Marketing. "We're excited to offer customers a total GoPro experience at Best Buy locations across North America."

Best Buy store associates will also be specially trained on GoPro's complete product lineup so customers can get guidance, tips and advice from an accredited expert while they shop for the latest GoPro cameras and accessories.

The new expanded product displays are now in the Best Buy Camera Experience Shops and will be added to remaining Best Buy locations in July.

About GoPro, Inc. (NASDAQ: GPRO)
GoPro helps the world capture and share itself in immersive and exciting ways.

GoPro has been recognized as an employer of choice by both Outside Magazine and U.S. News & World Reporthttps://money.usnews.com/careers/companies/rankings?src=usn_pr for being among the best places to work. Open roles can be found on our careers page. For more information, visit GoPro.com. 

Connect with GoPro on Facebook, Instagram, LinkedIn, TikTok, X, YouTube, and GoPro's blog, The Current. GoPro customers can submit their photos and videos to GoPro Awards for an opportunity to be featured on GoPro's social channels and receive gear and cash awards. Members of the press can access official logos and imagery on our press portal. 

GoPro, HERO and their respective logos are trademarks or registered trademarks of GoPro, Inc. in the United States and other countries.

Note on Forward-looking Statements

This press release may contain projections or other forward-looking statements within the meaning Section 27A of the Private Securities Litigation Reform Act. Words such as "anticipate," "believe," "estimate," "expect," "intend," "should," "will," "plan" and variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements. Forward-looking statements in this press release may include but are not limited to statements regarding our expectations for our expanded product displays, training and overall consumer demand for our products. These statements involve risks and uncertainties, and actual events or results may differ materially. Among the important factors that could cause actual results to differ materially from those in the forward-looking statements include the inability to achieve our revenue growth or profitability in the future, and if revenue growth or profitability is achieved, the inability to sustain it; our ability to maintain profitability if there are delays or issues in our product launches; the fact that an economic downturn or economic uncertainty in our key U.S. and international markets, inflation, and fluctuations in interest rates or currency exchange rates may adversely affect consumer discretionary spending and demand for our products; the fact that our goal to grow revenue and be profitable relies upon our ability to grow sales from our direct-to-consumer business and our retail partners and distributors; our ability to acquire and retain subscribers; our reliance on third-party suppliers, some of which are sole-source suppliers, to provide services and components for our products which may be impacted due to supply shortages, long lead times or other service disruptions that may lead to increased costs due to the effects of global conflicts and geopolitical issues such as the ongoing conflicts in the Middle East, Ukraine or China-Taiwan relations; our ability to maintain the value and reputation of our brand and protect our intellectual property and proprietary rights; the risk that our sales fall below our forecasts, especially during the holiday season; the risk we fail to manage our operating expenses effectively, which may result in our financial performance suffering the fact that our continued profitability depends in part on further penetrating our total addressable market, and we may not be successful in doing so; the fact that we rely on sales of our cameras, mounts and accessories for substantially all of our revenue, and any decrease in the sales or change in sales mix of these products could harm our business; the risk that we may not successfully manage product introductions, product transitions, product pricing and marketing; the fact that a small number of retailers and distributors account for a substantial portion of our revenue and our level of business with them could be significantly reduced; our ability to attract, engage and retain qualified personnel; any changes to trade agreements, trade policies, tariffs, and import/export regulations; the impact of competition on our market share, revenue and profitability; the fact that we may experience fluctuating revenue, expenses and profitability in the future; risks related to inventory, purchase commitments and long-lived assets; the risk that we will encounter problems with our distribution system; the threat of a security breach or other disruption including cyberattacks; the concern that our intellectual property and proprietary rights may not adequately protect our products and services; the effects of global conflicts and geopolitical issues such as the conflicts in the Middle East, Ukraine or China-Taiwan relations and its effects on the United States and global economies and our business in particular; and other factors detailed in the Risk Factors section of our Annual Report on Form 10-K for the year ended December 31, 2023, which is on file with the Securities and Exchange Commission (SEC), and as updated in filings with the SEC including the Quarterly Report on Form 10-Q for the quarter ended March 31, 2024. These forward-looking statements speak only as of the date hereof or as of the date otherwise stated herein. GoPro disclaims any obligation to update these forward-looking statements.

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SOURCE GoPro, Inc.

FAQ

What did GoPro announce at Best Buy stores?

GoPro announced a retail expansion at Best Buy stores across North America.

What enhancements are being made at Best Buy stores?

Enhancements include redesigned product displays, an assisted sales program, and increased accessory space.

When will the new product displays be added to all Best Buy locations?

The new product displays are currently in Best Buy Camera Experience Shops and will be added to remaining locations in July.

How many Best Buy stores will feature the expanded product displays?

Nearly 900 Best Buy stores across North America, including over 250 specialty Camera Experience Shops, will feature the expanded product displays.