2014 Financial News


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December 04, 2014Best Buy to Sell its Five Star Business in China
MINNEAPOLIS--(BUSINESS WIRE)--Dec. 4, 2014-- Best Buy Co., Inc. (NYSE:BBY) today announced that it has entered into a definitive agreement for the sale of its Five Star business to the Jiayuan Group, a prominent China-based real estate firm led by Chairman Yuxing Shen. This sale does not affect Best Buy’s private label operations in China. “Over the last two years we have worked to improve our business in China and are proud of the progres... 
November 21, 2014Best Buy Announces Regular Quarterly Cash Dividend
MINNEAPOLIS--(BUSINESS WIRE)--Nov. 21, 2014-- The Board of Directors of Best Buy Co., Inc. (NYSE:BBY) has authorized the payment of a regular quarterly cash dividend of $0.19 per common share. The quarterly dividend is payable on December 31, 2014, to shareholders of record as of the close of business on December 11, 2014. The company had 350,406,726 shares of common stock issued and outstanding as of November 1, 2014. Source: Best Buy C... 
November 20, 2014Best Buy Reports Third Quarter Results
Non-GAAP diluted EPS from continuing operations of $0.32 GAAP diluted EPS from continuing operations of $0.30 $65 million in additional annualized Renew Blue cost reductions, bringing the cumulative total to $965 million MINNEAPOLIS--(BUSINESS WIRE)--Nov. 20, 2014-- Best Buy Co., Inc. (NYSE:BBY) today announced results for the 13-week third quarter (“Q3 FY15”) ended November 1, 2014, as compared to the 13-week third quarter (“Q... 
November 03, 2014Best Buy Welcomes New Member to its Board of Directors
MINNEAPOLIS--(BUSINESS WIRE)--Nov. 3, 2014-- Best Buy Co., Inc. announced today the appointment of J. Patrick Doyle to its Board of Directors. Doyle is the president and chief executive officer of Domino’s Pizza, the world leader in pizza delivery and the second largest pizza company in the world. Doyle, 51, joined Domino’s Pizza in 1997, serving in a variety of leadership roles across its domestic and international businesses. He has been... 
August 27, 2014Best Buy Announces Regular Quarterly Cash Dividend
MINNEAPOLIS--(BUSINESS WIRE)--Aug. 27, 2014-- The Board of Directors of Best Buy Co., Inc. (NYSE:BBY) has authorized the payment of a regular quarterly cash dividend of $0.19 per common share. The quarterly dividend is payable on October 2, 2014, to shareholders of record as of the close of business on September 11, 2014. The company had 349,547,929 shares of common stock issued and outstanding as of August 2, 2014. Source: Best Buy Co.,... 
August 26, 2014Best Buy Reports Second Quarter Results
Non-GAAP diluted EPS from continuing operations of $0.44 GAAP diluted EPS from continuing operations of $0.42 $40 million in additional annualized Renew Blue cost reductions, bringing the cumulative total to $900 million MINNEAPOLIS--(BUSINESS WIRE)--Aug. 26, 2014-- Best Buy Co., Inc. (NYSE: BBY) today announced results for the 13-week second quarter (“Q2 FY15”) ended August 2, 2014 as compared to the 13-week second quarter (“Q... 
June 10, 2014Best Buy Increases Dividend by 12 Percent
MINNEAPOLIS--(BUSINESS WIRE)--Jun. 10, 2014-- The Board of Directors of Best Buy Co., Inc. (NYSE:BBY) has approved an increase in the company’s quarterly cash dividend from $0.17 to $0.19 per common share, an increase of 12%. The change will be effective with the quarterly dividend which, if authorized, would be payable on October 2, 2014 to shareholders of record as of September 11, 2014. Hubert Joly, Best Buy president and CEO, remarked, “Our d... 
May 23, 2014Best Buy Announces Regular Quarterly Cash Dividend
MINNEAPOLIS--(BUSINESS WIRE)--May 23, 2014-- The Board of Directors of Best Buy Co., Inc. (NYSE:BBY) has authorized the payment of a regular quarterly cash dividend of $0.17 per common share. The quarterly dividend is payable on July 3, 2014, to shareholders of record as of the close of business on June 12, 2014. The company had 348,750,097 shares of common stock issued and outstanding as of May 3, 2014. Source: Best Buy Co., Inc. ... 
May 22, 2014Best Buy Reports First Quarter Results
Non-GAAP diluted EPS from continuing operations of $0.33 GAAP diluted EPS from continuing operations of $1.31 $95 million in additional annualized Renew Blue cost reductions MINNEAPOLIS--(BUSINESS WIRE)--May 22, 2014-- Best Buy Co., Inc. (NYSE: BBY) today announced results for the 13-week first quarter (“Q1 FY15”) ended May 3, 2014 as compared to the 13-week first quarter (“Q1 FY14”) ended May 4, 2013. ... 
February 28, 2014Best Buy Announces Regular Quarterly Cash Dividend
MINNEAPOLIS--(BUSINESS WIRE)--Feb. 28, 2014-- The Board of Directors of Best Buy Co., Inc. (NYSE:BBY) has authorized the payment of a regular quarterly cash dividend of $0.17 per common share. The quarterly dividend is payable on April 10, 2014, to shareholders of record as of the close of business on March 20, 2014. The company had 346,750,905 shares of common stock issued and outstanding as of February 1, 2014. Source: Best Buy Co., In... 
February 27, 2014Best Buy Reports Fourth Quarter Results
Non-GAAP diluted EPS from continuing operations of $1.24 GAAP diluted EPS from continuing operations of $0.88 Annualized Renew Blue cost reductions reach $765 million MINNEAPOLIS--(BUSINESS WIRE)--Feb. 27, 2014-- Best Buy Co., Inc. (NYSE: BBY) today announced results for the 13-week fourth quarter (“Q4 FY14”) and 52-week year ended February 1, 2014 (“FY14”), as compared to the 13-week fourth quarter (“Q4 FY13”) and 53-week year ended February 2, 2013 (“FY13”). Revenue   Q4... 
January 16, 2014Best Buy Announces Holiday Revenue Results
Domestic Market Share Gain in a Market that Declined Low-Single Digits Domestic Comparable Store Sales Decline 0.9% Strategic Investment in Price Competitiveness in a Highly Promotional Environment Operating Income Rate to Reflect this Investment; Expected to Decline 175 to 185 Basis Points YOY in Q4 MINNEAPOLIS--(BUSINESS WIRE)--Jan. 16, 2014-- Best Buy Co., Inc. (NYSE: BBY) today announced revenue results for the nine weeks ended January 4, 2014, as compared to the nine weeks ended Jan... 
January 14, 2014Best Buy Announces New Member of its Board of Directors
(Thomson Reuters ONE via COMTEX) --MINNEAPOLIS - Jan. 14, 2014 - Best Buy Co., Inc. (NYSE: BBY), the leading authority and destination for technology products and services, today announced the appointment of Thomas L. "Tommy" Millner to its Board of Directors. Millner is the President and Chief Executive Officer of Cabela's Inc., North America's leading omni-channel retailer of hunting, fishing and camping products. Millner, 60, has led Cabela's since April 2009, after spending 10 years as th...