Categories Consumer

Best Buy appoints Corie Barry as new CEO

Best Buy Co. Inc. (BBY) has named Corie Barry as its new Chief Executive Officer, effective June 11. Barry, who currently serves as CFO, will be the first woman to hold the position of CEO. She will also join the company’s board of directors. Best Buy will conduct an internal and external search for a new CFO.

Best Buy’s current Chairman and CEO, Hubert Joly, will step into the newly-created role of executive chairman of the board. Joly helped turn around the company’s business during his tenure as CEO and oversaw deals such as the partnership with Amazon (AMZN) and the GreatCall acquisition. The GreatCall transaction was touted to be the biggest in Best Buy’s history and marked the electronic chain’s foray into the healthcare domain.

For its most recent quarter, Best Buy topped earnings expectations, marking its fifth consecutive quarter of beating estimates. The company has also achieved comparable sales growth for the past eight quarters.

For full-year 2020, Best Buy expects to generate revenue in the range of $42.9 billion to $43.9 billion and to achieve comparable sales growth of 0.5% to 2.5%. The company expects adjusted EPS to be $5.45-$5.65.

Best Buy’s shares were down 0.83% shortly after the market opened on Monday. The stock has climbed over 42% thus far this year.


We’re on Apple News! Follow us to receive the latest stock market, earnings and financial news at your fingertips.

Most Popular

Does Unity Software (U) stock has more room to run?

Last month, the IPO market was in a full swing. IPOs of Snowflake (NYSE: SNOW) and JFROG (NASDAQ: FROG) had an impressive opening day in September, the former creating a

PepsiCo (PEP): Steady snacking habits amid pandemic drive strong quarter for beverage giant

PepsiCo Inc. (NASDAQ: PEP) beat market expectations on both revenue and earnings for the third quarter of 2020. The company saw the momentum continue in its snacks business while the

Does the virus-driven boom make Electronic Arts (EA) a good investment?

With more and more people turning to virtual entertainment sources, amid the virus-related movement restrictions, video game publishers like Electronic Arts (NASDAQ: EA) are witnessing unusually high demand. Not surprisingly,

One thought on “Best Buy appoints Corie Barry as new CEO

Leave a Reply

Your email address will not be published. Required fields are marked *

Add Comment

Viewing Highlight