Best Buy posted better than expected third quarter earnings and sales results as the retailer primed its product assortments for the holiday season.
Best Buy has released its Black Friday ad featuring thousands of deals, and the retailer is giving consumers more opportunities to purchase from the deals and doorbusters before Thanksgiving Day.
Best Buy is kicking off the holiday season with free next-day delivery on thousands of items, the company said.
Best Buy said it’s hiring thousands of people across the country to work in stores and select warehouse facilities just in time for the holiday season.
In an investment presentation, Best Buy highlighted the progress made on its Building the New Blue growth strategy, detailing how it plans to move forward with the initiative, with an emphasis on customer relationships and “winning the home,” as well as discussing the company’s long-term financial outlook.
When looking at the work history of Corie Barry, it’s easy to see that she was the natural choice to succeed Hubert Joly as Best Buy’s CEO.
For the second quarter, Best Buy’s business in the United States overcame international weakness to deliver company comparable store sales and earnings gains.
Best Buy continues to be lauded for its assortment of floor care and home environment products due largely to the retailer’s on-going commitment to carry items that showcase new technology as part of an effort to help consumers easily maintain a clean and healthy home.
Best Buy has promoted Matt Bilunas, the company’s svp/enterprise and merchandise finance, to chief financial officer, effective July 29, 2019.
According to a study from marketing technology and analytics agency Adlucent, consumers planning to take advantage of Amazon Prime Day remain enthusiastic about the e-tailer. But the shopping doesn’t stop there, as approximately 68% of consumers will explore beyond Amazon, comparing products and prices on other sites.
Amazon is obviously the key destination for shoppers during its Prime Day event, but it isn’t the only virtual location consumers plan to visit.
After reducing its carbon emissions more than 50%, Best Buy said it is committing to achieve an even greater impact.
Wellness is becoming a more important shopper consideration and increasingly wired into consumer lifestyles, and Best Buy is launching a new collection of connected fitness products.
Corie Barry has officially taken the helm of Best Buy, becoming the fifth CEO in the company’s 53-year history. She replaces Hubert Joly, who led the company through a successful turnaround over the past seven years and will now become executive chairman as part of a planned leadership transition.
Hubert Joly, who is exiting the CEO role, said that the first quarter represented “a good start” to the Best Buy fiscal year.
Hubert Joly was an unconventional pick to lead Best Buy in 2012. Skeptics wondered then how a former hotel chief with no retail experience could stop Best Buy’s spiral toward oblivion.
Best Buy has named Corie Barry the retailer’s new chief executive officer, effective June 11. She will replace Hubert Joly, the company’s current chairman and CEO, who will become executive chairman of the board.
Best Buy recently presented St. Jude Children’s Research Hospital with a gift of $20.8 million as a result of the organization’s record-breaking fundraising year for the St. Jude Thanks and Giving campaign.
Fourth quarter comparable store sales at Best Buy were up 3% as the home electronics superstore reported better-than-expected earnings for the three month period ended February 2.
Best Buy has appointed Eugene Woods, a health care executive, to its board of directors, effective immediately.