Best Buy 2015 Annual Report Download - page 3

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2
Two years after launching Renew Blue, where are we? To put it simply, we have
made significant progress in addressing our two problems:
• Our Domestic comparable sales were up in FY15
• Our Domestic non-GAAP† operating income rate improved 100 basis
points, compared to FY14, to 4.1% in FY15 (4.0% on a GAAP basis)
And, at the Enterprise level, we reported non-GAAP earnings per share from
continuing operations of $2.60 ($3.53 on a GAAP basis) for FY15 versus $2.07
($2.00 on a GAAP basis) for FY14, a 26% increase. We also ended the year with
$3.9 billion in cash, cash equivalents and short-term investments, versus $2.6
billion last year.
This improvement in our performance is the result of the progress we have
made around the key pillars of our Renew Blue strategy.
1. We have significantly improved the customer experience. Our Net Promoter
Score (NPS) is up by 450 basis points, and we have gained market share
across multiple product categories. Here are some of the things we have
done to achieve this.
We have continued to invest in our price competitiveness to take price off
the table as a decision factor for our customers.
We have improved the experience in our online channel with enhanced
search capabilities, better product information and navigation, faster
shipping and the chain-wide rollout of our ship-from-store program that