Tag Archives: Hubert Joly

Best Buy Goes from Red to Black

Best Buy Posts Q1 Loss

MINNEAPOLIS-Ending a year of what it called “substantial progress,” Best Buy reported net income for both its fourth quarter and fiscal year ending on Feb. 1, as opposed to net losses for both periods one year ago. Fourth-quarter net income totaled $293 million, compared to last year’s net loss of $409 million. For the fiscalMore »

Best Buy Net Skyrockets in Q2

Best Buy Posts Q1 Loss

MINNEAPOLIS-The cost reductions from its Renew Blue program, unveiled last November, plus an improvement in margin bolstered Best Buy to a 2,116.7 percent increase in second-quarter net income, which totaled $266 million. Renew Blue is the retailer’s transformational strategy geared toward increasing its sales and profitability. Hubert Joly, Best Buy’s president and CEO, said theMore »