Best Buy 2015 Annual Report Download - page 2

Download and view the complete annual report

Please find page 2 of the 2015 Best Buy annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 111

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111

March 31, 2015
Dear Fellow Shareholders:
Two years into our Renew Blue transformation, I am happy to report that our
Company has made considerable progress in improving its performance and
that we have an exciting journey ahead of us.
Let me elaborate.
In the fall of 2012, we launched our Renew Blue strategy with the goal of
addressing our two problems – declining comps and declining margins. The
strategy was structured around five pillars:
• Reinvigorate and rejuvenate the customer experience
• Attract and inspire leaders and employees
• Work with vendor partners to innovate and drive value
• Increase our return on invested capital for investors
• Continue our leadership role in positively impacting our world
In FY15, we articulated our value proposition around advice, service and
convenience at competitive prices and started to use Expert Service.
Unbeatable Price. as our signature. We also defined our growth strategy,
Renew Blue: Ignite the Possible, around key growth opportunities across
product categories, “Life Events” and Services, all supported by the
transformation of our key functions.
A MESSAGE FROM
HUBERT JOLY, PRESIDENT & CEO