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Best Buy(BBY) - 2021 Q4 - Earnings Call Transcript
2021-02-25 17:10
Best Buy Co., Inc. (NYSE:BBY) Q4 2021 Earnings Conference Call February 25, 2021 8:00 AM ET Company Participants Mollie O'Brien - Vice President of Investor Relations Corie Barry - Chief Executive Officer Matthew Bilunas - Chief Financial Officer Michael Mohan - President and Chief Operating Officer Conference Call Participants Anthony Chukumba - Loop Capital Markets Christopher Horvers - JPMorgan Michael Lasser - UBS Investment Bank Joe Feldman - Telsey Advisory Group Karen Short - Barclays Capital Operato ...
Best Buy(BBY) - 2021 Q3 - Quarterly Report
2020-11-30 21:01
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 October 31, 2020 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 ...
Best Buy(BBY) - 2021 Q3 - Earnings Call Transcript
2020-11-24 19:45
Best Buy Co., Inc. (NYSE:BBY) Q3 2021 Earnings Conference Call November 24, 2020 8:00 AM ET Company Participants Mollie O'Brien - Vice President of Investor Relations Corie Barry - Chief Executive Officer Matthew Bilunas - Chief Financial Officer Michael Mohan - President and Chief Operating Officer Conference Call Participants Karen Short - Barclays Capital Inc. Simeon Gutman - Morgan Stanley Bradley Thomas - KeyBanc Capital Markets, Inc. Greg Melich - Evercore ISI Scot Ciccarelli - RBC Capital Markets, LL ...
Best Buy(BBY) - 2021 Q2 - Quarterly Report
2020-08-31 20:43
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 August 1, 2020 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 i ...
Best Buy(BBY) - 2021 Q2 - Earnings Call Transcript
2020-08-25 16:50
Best Buy Co., Inc. (NYSE:BBY) Q2 2020 Earnings Conference Call August 25, 2020 8:00 AM ET Company Participants Mollie O’Brien - VP, IR Corie Barry - CEO Matt Bilunas - CFO Mike Mohan - President and COO Conference Call Participants Steve Forbes - Guggenheim Securities Chris Horvers - JPMorgan Peter Keith - Piper Sandler Michael Lasser - UBS Matt McClintock - Raymond James Anthony Chukumba - Loop Capital Markets Brian Nagel - Oppenheimer Kate McShane - Goldman Sachs Operator Ladies and gentlemen, thank you f ...
Best Buy Co., Inc. (BBY) 2020 Regular Meeting of Shareholders Conference (Transcript)
2020-06-11 17:45
Summary of Best Buy Co., Inc. 2020 Regular Meeting of Shareholders Conference Call Company Overview - **Company**: Best Buy Co., Inc. (NYSE: BBY) - **Date**: June 11, 2020 - **Participants**: Hubert Joly (Executive Chairman), Corie Barry (CEO), Mollie O'Brien (Head of IR), Patrick Doyle (Lead Independent Director) Key Points Industry Context - The meeting took place during the COVID-19 pandemic, which significantly impacted retail operations and customer interactions [12][13][14] Financial Performance - Fiscal 2020 saw enterprise comparable sales growth of 2.1%, marking the sixth consecutive year of positive comparable sales [19] - Non-GAAP operating income rate increased by approximately 30 basis points [19] Operational Adjustments - Transitioned to a contactless curbside-only model on March 22, 2020, to ensure safety and compliance with government regulations [14] - Retained 81% of last year's sales during the first quarter under the new operating model, despite no in-store customer visits [15] - Introduced appointment-based consultations in stores, receiving positive feedback with 98% of customers feeling safe during their visits [16] Future Strategy - Plans to continue offering multiple shopping models, including curbside pickup and in-store consultations, while adhering to safety protocols [18][24] - Emphasis on enriching lives through technology and building deeper customer relationships [23] Employee and Board Engagement - The Board has been actively involved in overseeing company actions during the pandemic, ensuring employee safety and job security [26][28] - Increased hourly pay rates for all store associates during the pandemic to support their efforts [35][42] Governance and Shareholder Engagement - Approximately 90% of shares eligible to vote were represented at the meeting, indicating strong shareholder engagement [6] - The Board recommended the election of 10 directors and the ratification of Deloitte & Touche as the independent auditor [7][8] Leadership Transition - Hubert Joly expressed gratitude for his tenure and confidence in the future leadership under Corie Barry and Patrick Doyle [46][47] - Corie Barry highlighted the importance of purposeful leadership and the company's mission to enrich lives through technology [50][51] Social Responsibility - Best Buy is committed to addressing social inequities and has initiated discussions among employees to find substantive ways to contribute to equality and justice [12] Recognition and Awards - Best Buy was named to Barron's Annual 100 Most Sustainable Companies list for the third consecutive year, reflecting its commitment to environmental, social, and governance (ESG) practices [20] Additional Insights - The company is adapting to changing consumer behaviors and competitive landscapes, indicating a willingness to innovate and improve operational processes [32] - The growing ownership concentration of passive mutual funds raises questions about corporate governance and long-term planning, which the Board is monitoring [43][44] This summary encapsulates the critical discussions and outcomes from the Best Buy 2020 Regular Meeting of Shareholders, highlighting the company's resilience and strategic direction amidst challenging circumstances.
Best Buy(BBY) - 2021 Q1 - Quarterly Report
2020-05-27 20:41
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 2, 2020 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 ...
Best Buy(BBY) - 2021 Q1 - Earnings Call Transcript
2020-05-21 18:50
Best Buy Co., Inc. (NYSE:BBY) Q1 2021 Results Conference Call May 21, 2020 8:00 AM ET Company Participants Mollie O’Brien - VP, IR Corie Barry - CEO Matt Bilunas - CFO Mike Mohan - President and COO Conference Call Participants Greg Melich - Evercore ISI Karen Short - Barclays Curtis Nagle - Bank of America Scot Ciccarelli - RBC Capital Markets Jonathan Matuszewski - Jefferies Joe Feldman - Telsey Advisory Group Simeon Gutman - Morgan Stanley Operator Ladies and gentlemen, thank you for standing by. Welcome ...
Best Buy(BBY) - 2020 Q4 - Annual Report
2020-03-23 20:42
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________________________________________________________________ FORM 10-K (Mark One) x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended February 1, 2020 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 ______________________________________________________ ...