Last $29.89 USD
Change Today -0.60 / -1.97%
Volume 4.9M
BBY On Other Exchanges
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As of 8:04 PM 07/11/14 All times are local (Market data is delayed by at least 15 minutes).

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11/13/13 - $44.66
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best buy co inc (BBY) Details

Best Buy Co., Inc. operates as a multi-national, multi-channel retailer of technology products in the United States, Canada, China, and Mexico. Its stores offer consumer electronics consisting primarily of television and home theaters; digital cameras and camcorders; DVD and Blu-ray players; portable electronics, such as MP3 devices, headphones and speakers, car stereo, navigation and satellite radio; and all related accessories. The company's stores also provide computing and mobile phone products, including notebook and desktop computers, tablets and e-readers, mobile phones and related subscription service commissions, and related accessories; entertainment products, such as video gaming hardware and software, DVDs, Blu-rays, CDs, digital downloads, and computer software; and appliances, including large and small appliances, and kitchen and bath fixtures, including faucets, sinks, toilets, and bathtubs. It also offers extended warranty service contracts, technical support, product repair, delivery, and installation services, as well as offers snacks and beverages. The company operates e-commerce operations, retail stores, and call centers; and conducts operations under various names, such as Best Buy, including and; Best Buy Mobile; Five Star; Future Shop, including; Geek Squad; Magnolia Audio Video; and Pacific Sales. The company was formerly known as Sound of Music, Inc. Best Buy Co., Inc. was founded in 1966 and is headquartered in Richfield, Minnesota.

140,000 Employees
Last Reported Date: 03/28/14
Founded in 1966

best buy co inc (BBY) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: $1.2M
Chief Financial Officer, Chief Accounting Off...
Total Annual Compensation: $925.0K
Chief Human Resources Officer and President o...
Total Annual Compensation: $700.0K
Chief Merchandising Officer
Total Annual Compensation: $498.5K
General Counsel and Secretary
Total Annual Compensation: $794.3K
Compensation as of Fiscal Year 2014.

best buy co inc (BBY) Key Developments

Best Buy Co., Inc. Enters $1.25 Billion Five-Year Senior Unsecured Revolving Credit Facility Agreement

Best Buy Co., Inc. entered into a $1.25 billion five-year senior unsecured revolving credit facility agreement with JPMorgan Chase Bank, N.A. as administrative agent, and a syndicate of banks. The five-year facility agreement will replace the previous $1.5 billion senior unsecured revolving credit facility, with a syndicate of banks, including JPMorgan acting as administrative agent. The previous facility, which was originally scheduled to expire in October 2016, was terminated on June 30, 2014. The Five-Year Facility Agreement permits borrowings up to $1.25 billion and terminates in June 2019. No amounts are currently outstanding under the Five-Year Facility Agreement. The Five-Year Facility Agreement contains substantially the same terms as the Previous Facility. The registrant's $500 million 364-day senior unsecured revolving credit facility agreement with JPMorgan, which was entered into on June 25, 2013, expired on June 25, 2014. The registrant deemed the credit available under the five-year facility sufficient given its current cash position and funds generated by operations. The interest rate under the Five-Year Facility Agreement is variable and is determined at the registrant's option as: the sum of JPMorgan's prime rate, the federal funds rate plus 0.5%, and the one-month London Interbank Offered Rate (LIBOR") plus 1%, and (b) a variable margin rate; or the LIBOR plus a variable margin rate (the LIBOR Margin"). In addition, a facility fee is assessed on the commitment amount. The ABR Margin, LIBOR Margin and the facility fee are based upon the registrant's current senior unsecured debt rating. Under the Five-Year Facility Agreement, the ABR Margin ranges from 0.0% to 0.925%, the LIBOR Margin ranges from 1.000% to 1.925%, and the facility fee ranges from 0.125% to 0.325%. The Five-Year Facility Agreement is guaranteed by specified subsidiaries of the registrant and contains customary affirmative and negative covenants. Among other things, these covenants restrict the registrant's and certain of its subsidiaries' ability to incur certain types or amounts of indebtedness, incur liens on certain assets, make material changes in corporate structure or the nature of its business, dispose of material assets, engage in a change in control transaction, make certain foreign investments, enter into certain restrictive agreements, or engage in certain transactions with affiliates. The Five-Year Facility Agreement also contains covenants that require the registrant to maintain a maximum quarterly cash flow leverage ratio and a minimum quarterly interest coverage ratio. The Five-Year Facility Agreement contains customary default provisions including, but not limited to, failure to pay interest or principal when due and failure to comply with covenants.

Best Buy Considers Options For Its China Business

Best Buy Co., Inc. (NYSE:BBY) is considering options, including a sale or partnership, for its Chinese business, according to people familiar with the matter. Best Buy is working with Bank of America Merrill Lynch on its options, according to the people. Some people said the Chinese business could fetch around $300 million, although one cautioned that it is too early in the process to set a firm price for the business.

Best Buy Co., Inc. Announces Quarterly Cash Dividend, Payable on October 2, 2014

The Board of Directors of Best Buy Co., Inc. has approved an increase in the company's quarterly cash dividend from $0.17 to $0.19 per common share, an increase of 12%. The change will be effective with the quarterly dividend which, if authorized, would be payable on October 2, 2014 to shareholders of record as of September 11, 2014. Best Buy last announced a dividend increase in June 2012, when the Board raised the dividend from $0.16 to $0.17.


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