Best Buy (NYSE:BBY) layoffs are in the news Wednesday as the electronics and appliances retailer deals with slowing sales.It’s unknown how many Best Buy employees will be affected by the layoffs. What is known is that the job cuts appear to be limited to its designers. These are employees who help customers pick out products for their homes by visiting them.On top of these layoffs, some Best Buy employees are also reporting that pay is being cut. This comes as some of them switch to in-store sales roles and ...

Core Insights - Best Buy Company Inc. has strategically balanced cost management with quality service delivery, positioning itself for continued success in the consumer electronics market [1] - The company's proactive approach to operational efficiency and customer engagement highlights its resilience and commitment to shareholder value [1] Strategic Investments - Best Buy is making significant investments in technology, including data analytics and cloud migration, to enhance operational scale and efficiency [2] - The company plans to close 10-15 stores in fiscal 2025 while experimenting with various store formats and operating models [2] Customer Experience Enhancements - Best Buy is testing initiatives like the Totaltech membership program, which offers tech support, exclusive pricing, and extended return windows [3] - The company is innovating with new store formats, including digital-first stores and large-format experience store remodels, to improve productivity and customer experience [3] Digital Transformation and AI Integration - Best Buy's partnerships with Google Cloud and Accenture focus on integrating generative AI technologies into customer service, enhancing self-service options and support experiences [4] - The virtual assistant aims to facilitate real-time conversation analysis and actionable recommendations for support agents [4] Financial Performance - Best Buy's shares have gained 12.6% over the past year, slightly outperforming the industry's 12% growth [5] - Analysts have raised the earnings per share estimate for the current fiscal year by 8 cents to $6.11, and for the next fiscal year by four cents to $6.79 [5]

Best Buy Co., Inc. (NYSE:BBY) Oppenheimer's 24th Annual Virtual Consumer Growth and E-Commerce Conference June 10, 2024 11:15 AM ET Company Participants Corie Barry - Chief Executive Officer Matt Bilunas - Chief Financial Officer Conference Call Participants Brian Nagel - Oppenheimer Brian Nagel Well, good morning to everyone. Thank you for joining us for Day 1 for our 24th Annual Oppenheimer Consumer Growth and E-Commerce Conference. So my name is Brian Nagel and I work at Oppenheimer as the Consumer Growt ...

Best Buy Co., Inc. (NYSE:BBY) Oppenheimer's 24th Annual Virtual Consumer Growth and E-Commerce Conference June 10, 2024 11:15 AM ET Company Participants Corie Barry - Chief Executive Officer Matt Bilunas - Chief Financial Officer Conference Call Participants Brian Nagel - Oppenheimer Brian Nagel Well, good morning to everyone. Thank you for joining us for Day 1 for our 24th Annual Oppenheimer Consumer Growth and E-Commerce Conference. So my name is Brian Nagel and I work at Oppenheimer as the Consumer Growt ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended May 4, 2024 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 1-9595 BEST BUY CO., INC. (Exact name of registrant as specified in its charter) Minnesota 41-0907483 (State or other jurisdiction of inco ...

If you’re looking to boost your portfolio with reliable income that rises over time, dividend growth stocks are a great option. What I particularly value about these stocks, in contrast to high-yield options, is that they offer meaningful payouts while also having the potential for long-term capital appreciation.As June 2024 rolls in, now is a great time to consider some of the best options available. For this month, I’ve selected three dividend growth stocks to buy that offer a solid mix of tangible income ...

The shares of Best Buy Co Inc (NYSE:BBY) are up 1.1% to trade at $85.75 this morning, after the electronics retailer received a double-upgrade from Citigroup to "buy" from "sell," with a price-target hike to $100 from $67. In the bull note, the analyst in coverage noted upside from Best Buy's earnings and valuations, with tech replacement cycles underway and new artificial intelligence (AI) innovations boosting demand.Guggenheim also chimed in today, adjusting its price objective up to $90 from $86. The maj ...

Key PointsBest Buy's strong quarter shows the positive impact of rising PC demand and AI hype on the industry.Analysts have found a new reason to boost Best Buy's valuations as cash flow hits the company.EPS growth and a recent breakout on the announcement back a bullish thesis, driving short sellers away.5 stocks we like better than Amazon.comAfter a painfully slow two years of trading within a tight channel, Best Buy Company Inc. NYSE: BBY rallied by a staggering 15.5% after it reported its first quarter ...

Best Buy CEO Corie Barry told CNBC's Jim Cramer the electronics retailer is getting ready to sell a slew of new artificial intelligence-enabled personal computers."We are, as you can imagine, arming ourselves on every angle to be the single best place to come experience this across the assortment," Barry said. "So, you're going to see physical demos of all the products that you can touch and feel and play with, and importantly, you're going to see us certify and have zoned specialized associates at hundreds ...

As consumers prove more cautious about their discretionary retail spending, Best Buy is seeing shoppers hold off until sales events to make big purchases.On a call with analysts Thursday (May 30) discussing the retailer’s first-quarter fiscal 2025 earnings results, the consumer electronics retailer noted that shoppers are adjusting their purchasing behavior in response to ongoing financial pressures.“Customers remained very deal-focused and attracted to more predictable sales moments,” CEO Corie Barry said. ...