UPDATE 1-Best Buy to furlough 51,000 hourly U.S. store employees [Reuters]
Best Buy Co., Inc. (BBY)
Last best buy co., inc. earnings: 2/27 07:00 am
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US:NYSE Investor Relations:
investors.bestbuy.com/investor-relations/overview/default.aspx
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Source: Reuters
Best Buy to furlough 51,000 hourly U.S. store employees (Reuters) - Best Buy Co Inc said on Wednesday it would furlough about 51,000 hourly U.S. store employees and that its sales dropped about 5% in the first two months of the current quarter, as the electronics retailer kept its stores shut due to the coronavirus pandemic. The company said that starting next week, some corporate employees would also participate in voluntary reduced work weeks and furloughs, while its top management and board would take a pay cut. Best Buy, however, would retain about 82% of its full-time store and field employees. The company said sales grew about 25% during an 8-day period ended March 20, a day before the company announced its decision to switch to a curbside delivery model, as people shopped for work-from-home equipment, gaming-related products as well as products needed to freeze food. Best Buy added that domestic online sales surged over 250% from a year earlier, with half the sales coming from
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BBY
News
- Best Buy Appoints Dylan Jadeja to Board of DirectorsBusiness Wire
- Best Buy (NYSE:BBY) had its price target lowered by analysts at The Goldman Sachs Group, Inc. from $95.00 to $93.00. They now have a "buy" rating on the stock.MarketBeat
- Best Buy (NYSE:BBY) had its price target raised by analysts at Daiwa Capital Markets from $76.00 to $80.00. They now have a "neutral" rating on the stock.MarketBeat
- Best Buy (NYSE:BBY) had its price target raised by analysts at JPMorgan Chase & Co. from $97.00 to $99.00.MarketBeat
- Best Buy (NYSE:BBY) was given a new $84.00 price target on by analysts at Truist Financial Corporation.MarketBeat
BBY
Earnings
- 11/25/25 - Beat
BBY
Sec Filings
- 12/5/25 - Form 10-Q
- 12/1/25 - Form 8-K
- 11/25/25 - Form 8-K
- BBY's page on the SEC website