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Best Buy Co Inc (BBY.N)

BBY.N on New York Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Best Buy Co announces two-year $3 bln share repurchase plan
Wednesday, 1 Mar 2017 07:01am EST 

Best Buy Co Inc : Best Buy Co Inc - two-year $3 billion share repurchase plan . Best BUY CO INC - 21 pct increase in quarterly dividend to $0.34 per share . Best Buy Co Inc - board of directors approved a new $5 billion share repurchase authorization for company's common stock . Best Buy Co Inc - company is targeting a non-GAAP dividend payout ratio between 35 pct and 45 pct. .Best Buy Co - new $5 billion share repurchase authorization supersedes existing authorization dated June 2011 which had $2.2 billion in purchases remaining.  Full Article

Best Buy reports Q4 non-GAAP earnings per share $1.95
Wednesday, 1 Mar 2017 07:00am EST 

Best Buy Co Inc : Best Buy reports better-than-expected fourth quarter earnings . Q4 non-GAAP earnings per share $1.95 from continuing operations . Best Buy Co Inc - Qtrly enterprise revenue $13,482 million versus $13,623 million . Sees Q1 2018 non-GAAP earnings per share $0.35 to $0.40 . Q4 earnings per share view $1.67 -- Thomson Reuters I/B/E/S . Best Buy Co - Announced 21% increase in our dividend and a share repurchase plan that accelerates from $1 billion over two years to $3 billion over two years . Best Buy Co Inc - Qtrly enterprise comparable sales down 0.7% . Best Buy Co Inc - Sees Q1 enterprise revenue in range of $8.2 billion to $8.3 billion . Best Buy Co Inc - Sees Q1 international comparable sales change in range of flat to 3.0% . Best Buy Co Inc - Sees FY enterprise revenue growth of approximately 1.5% on a 53-week basis . Best Buy Co Inc - Sees FY enterprise non-GAAP operating income growth rate in low single digits on a 53-week basis . Q1 earnings per share view $0.49 -- Thomson Reuters I/B/E/S .Q4 earnings per share view $1.67, revenue view $13.62 billion -- Thomson Reuters I/B/E/S.  Full Article

U.S. CPSC says Best Buy agrees to pay $3.8 million civil penalty
Monday, 3 Oct 2016 03:48pm EDT 

U.S. Consumer Product Safety Commission : U.S. Consumer Product Safety Commission -Best Buy agrees to pay $3.8 million civil penalty, implement internal compliance program for distributing and selling recalled products . U.S. Consumer Product Safety Commission -Between September 2010 and October 2015, Best Buy sold about 600 recalled items, including more than 400 canon cameras, to consumers .U.S. Consumer Product Safety Commission -Agreement settles charges that Best Buy knowingly sold 16 different recalled products during 2010 through 2015.  Full Article

Best Buy Co sets quarterly cash dividend of $0.28/shr
Wednesday, 24 Aug 2016 08:00am EDT 

Best Buy Co Inc :Sets regular quarterly cash dividend of $0.28 per share.  Full Article

Best Buy Co posts Q2 earnings $0.56/shr from continuing operations
Tuesday, 23 Aug 2016 07:00am EDT 

Best Buy Co Inc : Reports better-than-expected second quarter results . Q2 non-GAAP earnings per share $0.57 from continuing operations . Q2 GAAP earnings per share $0.56 from continuing operations . Q2 earnings per share view $0.43 -- Thomson Reuters I/B/E/S . Sees Q3 2017 non-GAAP earnings per share $0.43 to $0.47 . Qtrly enterprise revenue $8,533 million versus $8,528 million last year . Sees Q3 enterprise revenue in range of $8.8 billion to $8.9 billion . Best Buy Co Inc sees Q3 international revenue change of flat to down 5 percent . Sees Q3 enterprise and domestic comparable sales of approximately 1 pct . Qtrly enterprise comparable sales up 0.8 percent . Beginning in January FY17, company will no longer issue an interim holiday press release . Anticipate both enterprise and domestic comparable sales growth of approximately 1 pct in Q3 . Will no longer issue an interim holiday press release due to increasing significance of month of Jan to co's overall Q4 results .Reaffirming expectation of approximately flat revenue for FY and raising our full year non-GAAP operating income outlook.  Full Article

Best Buy entered into a revolving credit facility agreement with JPMorgan Chase Bank N.A on June 27 - SEC Filing
Thursday, 30 Jun 2016 04:39pm EDT 

Best Buy Co Inc : On June 27 co entered into a $1.25 billion five-year senior unsecured revolving credit facility agreement with JPMorgan Chase Bank N.A . Five-Year facility agreement will replace previous $1.25 billion senior unsecured revolving credit facility .Five-Year facility agreement permits borrowings up to $1.25 billion and terminates in June 2021.  Full Article

Best Buy sets qtly cash dividend of $0.28/shr
Wednesday, 25 May 2016 08:00am EDT 

Best Buy Co Inc :Sets regular quarterly cash dividend of $0.28 per share.  Full Article

Best Buy says CFO Corie Barry will receive annual base salary of $750,000
Tuesday, 24 May 2016 07:03am EDT 

Best Buy Co Inc :Cfo corie barry will receive an annual base salary of $750,000 - sec filing.  Full Article

Best Buy Co Inc says Corie Barry to become CFO
Tuesday, 24 May 2016 07:01am EDT 

Best Buy Co Inc : Best Buy announces internal succession plan for company's chief administrative and chief financial officer . Current chief strategic growth officer to assume CFO role . CAO and CFO Sharon Mccollam to step down at conclusion of company's annual shareholder meeting in June . Mccollam will remain with company in an advisory capacity until end of fiscal year, January 28, 2017 .Corie Barry, current chief strategic growth officer, will become chief financial officer at conclusion of annual shareholder meeting.  Full Article

Best Buy reports Q1 gaap earnings per share of $0.69
Tuesday, 24 May 2016 07:00am EDT 

Best Buy Reports Better : Qtrly enterprise revenue $8,443 million versus $8,558 million last year . Qtrly domestic segment comparable sales essentially flat . For q2 fy17, our guidance is enterprise revenue in range of $8.35 billion to $8.45 billion . For q2 fy17, our guidance is enterprise and domestic comparable sales of approximately flat . Qtrly enterprise comparable sales fell 0.1 percent . Not raising full year outlook as q1 represents less than 15% of full year earnings . Expecting an approximate $0.03 net negative impact on q2 adjusted earnings per share from lapping of periodic profit sharing benefit from services plan portfolio . Expecting an approximate $0.06 negative impact from carryover of last september's services pricing investment on q2 adjusted earnings per share . Reaffirming previously provided full year financial outlook . Expecting slight declines in revenue in first half followed by growth in back half . In digital imaging, we are now expecting an approximate $0.03 to $0.04 negative impact for q2 due to april 2016 earthquake in japan . During q1 fy17, company made decisions to cease certain operations and restructure certain teams . As such, restructuring charges of $29 million were recorded primarily relating to asset impairments and severance in q1 . In q1 fy16, restructuring charges of $186 million were recorded primarily in relation to canadian brand consolidation . Than-Expected first quarter results.  Full Article

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