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16 December 2008

Best Buy Continues To Prepare For Difficult Economic Environment, Plans Significant Spending Reductions

MINNEAPOLIS, Dec. 16, 2008 -- Best Buy Co., Inc. (NYSE: BBY) today reported net earnings of $52 million, or $0.13 per diluted share, for its fiscal third quarter ended on Nov. 29, 2008. These results were compared with net earnings of $228 million, or $0.53 per diluted share, for the prior-year fiscal third quarter. The reduction in third-quarter earnings was due in large part to a non-operating impairment charge of $111 million ($93 million net of tax, or $0.22 per diluted share), related to a significant and sustained decline in the market price of the company’s nearly 3 percent stake in the common shares outstanding of The Carphone Warehouse Group PLC (CPW).
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15 December 2008

Best Buy® Offers Advice and Options for Last-Minute Shoppers

MINNEAPOLIS – December 15, 2008 – With less than two weeks left in the holiday shopping season, the countdown is on, and shoppers are hitting both the stores and the Web to find the best deals for the perfect holiday gift. To help make last-minute shopping as enjoyable as possible, Best Buy is pleased to offer a variety of cost and time saving options from in-store pick up to an extended return policy.

11 December 2008

TOUGH TIMES CALL FOR FRUGAL TECH SUPPORT

MINNEAPOLIS, December 11, 2008 – Civilians are doubly stressed this holiday as financial pressures compound the anxiety many people already feel about choosing the right tech gift. A recent Consumer Electronics Association study found that while the budget for CE gifts is up 4% (to 28%) this year, overall spending on holiday goodies will be down 14%.* No one wants a disappointing gift, so how do you use a tighter budget wisely?
08 December 2008

Best Buy® Helps Holiday Shoppers by Providing Value and Guidance

MINNEAPOLIS – December 8, 2008 – While more than three-quarters of Americans plan to budget the amount they spend this season according to a recent nationwide survey from Best Buy¹ (BBY) shoppers are looking for more than price when purchasing consumer electronics. Nearly 80 percent of those surveyed said well-informed salespeople, as well as post-purchase support, were key in their decision making process.

10 December 2008

3 Doors Down, Hinder Voice Support for @15

MINNEAPOLIS, December 10, 2008 – Best Buy Co., Inc. (NYSE:BBY) today unveiled two new TSAs (“Teen Service Announcements”) featuring American rock artists 3 Doors Down and Hinder at www.at15.org. The groups, who recently co-headlined a multi-city summer tour, participated in the TSAs in support of @15, a new teen-led social change platform underwritten by Best Buy to give teens a voice and give them opportunities to direct the company’s philanthropy through the newly-created @15 Fund.