News by Year
MINNEAPOLIS, Dec. 18, 2007 -- Best Buy Co., Inc. (NYSE: BBY) today reported net earnings of $228 million, or $0.53 per diluted share, for its fiscal third quarter ended on Dec. 1, 2007. The leading consumer electronics retailer's diluted earnings per share increased 71 percent, compared with $0.31 per diluted share, or $150 million, for the prior-year third quarter. The better-than-expected EPS growth was driven by 17-percent revenue growth, which stemmed from new store openings and a 6.7-percent comparable store sales gain. The comparable store sales gain included the benefit of an additional post-Thanksgiving holiday shopping week. The strong revenue growth, which helped drive selling, general and administrative (SG&A) expense leverage, coupled with a flat gross profit rate, drove a 120-basis-point improvement in the operating income rate for the quarter
MINNEAPOLIS, December 4, 2007 - At Best Buy, we have a responsibility to give our customers the opportunity to choose what is appropriate for themselves and their families, and to make our sales staff available to help our customers make informed decisions. As part of this commitment, we welcome the National Institute on Media and the Family (NIMF) report card as a good pulse read on the broader issues surrounding the video game industry.
MINNEAPOLIS - November 14, 2007 - As Best Buy continues to enhance the holiday shopping experience for its Spanish speaking customers, the company launched a transactional bilingual website. Best Buy has listened to their growing Hispanic customer base and in an effort to further address their unmet needs, has made numerous changes. Some changes include: Adding bilingual signage at more than 220 stores, hiring more sales associates and call center operators fluent in multiple languages and developing Spanish advertising materials, including the popular weekly insert.
RICHFIELD, Minn., Nov. 14, 2007- Consumer electronics retailer Best Buy Co., Inc. today announced that it has selected SAP AG (NYSE: SAP) to provide the core enterprise resource management (ERP) platform, as well as SAP® for Retail solutions for specific retail functionality, for its international and emerging businesses.
MINNEAPOLIS, October 30, 2007 - Best Buy today launched Best Buy Video Sharing, an online-based solution for customers to safely store and share home movies and videos via the Web.
Best Buy Canada announces the availability of Justin Timberlake Releases.
MINNEAPOLIS, Oct. 19, 2007 – Best Buy today announced the grand opening of 15 new U.S. Best Buy stores. The new stores are set to open Friday, Oct. 26, at 10 a.m. local time in the following cities:
Compton, Calif. Hagerstown, Md. Tigard, Ore.
Marina, Calif. Taunton, Mass. Mechanicsburg, Pa.
San Jose, Calif. Lakeville, Minn. Stroudsburg, Pa.
Wesley Chapel, Fla. Shakopee, Minn. Bluffton, S.C.
Cumming, Ga. New York, N.Y. Christiansburg, Va.
Ribbon-cutting ceremonies and $10,000 check presentations to local nonprofits mark the opening of the new destinations for the latest in technology and services.
MINNEAPOLIS – October 17, 2007 – As the end of the analog broadcast era draws near, Best Buy, the nation’s largest consumer electronics retailer, is taking steps to create a smooth transition to digital television (DTV) for all consumers. That’s why Best Buy today announced that it has pulled all remaining analog television products from store shelves and will only sell digital video tuners in the future. The company also announced that it will participate in the NTIA DTV Converter Box Coupon Program to help people purchase digital converter boxes for their analog televisions. Coupon-eligible converter boxes will be available in Best Buy stores beginning in early 2008.
Burnaby, B.C. – Best Buy today announced the company has entered into an agreement with Greentec (www.greentec.com) to provide a recycling alternative within its Canadian retail operations. The recycling service will be offered free to consumers and has been available in all 48 Best Buy stores throughout Canada since October 12, 2007.
