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Best Buy (BBY) Q1 2022 Earnings Call Transcript


Operator
Ladies and gentlemen, thank you for standing by. Welcome to Best Buy s Q1 FY 2022 earnings conference call. [Operator instructions] As a reminder, this call is being recorded for playback and will be available by approximately 11:00 a.m. Eastern Time today.
[Operator instructions] I will now turn the conference call over to Mollie O Brien, vice president of investor relations.
Mollie O Brien
Vice President of Investor Relations
Thank you, and good morning, everyone. Joining me on the call today are Corie Barry, our CEO; Matt Bilunas, our CFO; and Mike Mohan, our president and COO. During the call today, we will be discussing both GAAP and non-GAAP financial measures. A reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measures and an explanation of why these non-GAAP financial measures are useful can be found in this morning s earnings release, which is available on our website investors.bestbuy.com. ....

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Best Buy launches $200-a-year membership program


The success of Amazon Prime has inspired other companies to follow suit.
Author: Boyd Huppert
Updated: 10:13 PM CDT May 3, 2021
MINNEAPOLIS When it comes to subscription services, Best Buy is primed to compete with Amazon.
On Monday, the company is launching Best Buy Beta in Minnesota, which joins five other pilot states.
For $200 dollar a year, Best Buy is offering:
Unlimited Geek Squad technical support on all technology in your home, whether purchased at Best Buy or not.
Free in-home installation of Best Buy purchases.
Free shipping with no minimums.
Exclusive member sale pricing.
Two-year protection on most purchases.
George John, marketing professor at the U of M’s Carlson School of Management, says subscription services have been hugely profitable for companies like Amazon and Costco, but Beta is not a slam dunk. ....

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10 Best Dividend Stocks to Buy According to Billionaire Philippe Laffont


10 Best Dividend Stocks to Buy According to Billionaire Philippe Laffont
In this article we will take a look at the 10 best dividend stocks to buy according to billionaire Philippe Laffont. You can skip our detailed analysis of Laffont’s history, investment philosophy, and hedge fund performance and go directly to the
Philippe Laffont is one of the most successful investors and hedge fund managers in the world. He founded his hedge fund Coatue Management in 1999 with $45 million starting capital. Since then, the fund has grown exponentially and manages a $16 billion portfolio as of today.
Coatue’s success is mainly due to its decision to focus on tech stocks, tech startups, and private technology companies. The fund has generated 10.1% annualized returns in the last ten years. Laffont’s net worth is currently estimated at around $1.4 billion. He also has a long-only fund, which invests in technology and specific themes such as facial recognition technology and a ....

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$200 to be a member at Best Buy? Retailer launches membership pilot program in Twin Cities


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Best Buy has started to offer $200 yearly memberships to customers in the Twin Cities in return for benefits such as free or discounted Geek Squad services.
Best Buy Beta is a pilot program that started a month ago in Iowa, and parts of Pennsylvania and Oklahoma. It is now available in the Twin Cities.
As we look to evolve our membership programs, the goal of Best Buy Beta is to create a membership experience that customers will love and to leave them feeling confident throughout their relationship with Best Buy, said Allison Peterson, Richfield-based Best Buy s chief customer officer, in a statement. This pilot offers premium service, complete with support aimed at anticipating our customers needs. ....

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