People + Power: Best Buy Fiscal 2010 Sustainability Report Now Available

Best Buy Co., Inc. (NYSE:BBY), a leading retailer of consumer electronics, announced today the release of its fiscal 2010 Sustainability Report. Available for download at http://www.bby.com/wp-content/uploads/2010/07/Best-Buy-2010-Sustainability-Report.pdf the report details the company’s social and environmental performance in fiscal 2010, and confirms the company’s commitment to enable and empower people to live more sustainably in a connected world.

"Sustainability for Best Buy means placing a focus on the people, technology and the power needed in the connected world,” said Brian Dunn, CEO, Best Buy. "We believe that technology holds the power to make the planet more connected and, in a word, better – but only if it is created to serve people and the things they care about.”

While maintaining a clear commitment to continuous improvements in its operations, Best Buy had remarkable success in fiscal year 2010 implementing sustainability initiatives, while emphasizing two primary areas of focus, PEOPLE and POWER. The results have produced notable outcomes, including:

• The establishment of an ambitious e-waste target: Because consumer electronics are one of the fastest-growing waste streams, Best Buy set the ambitious goal to collect 1 billion pounds of old or obsolete technology over the next five years. Through its comprehensive U.S. recycling program, Best Buy provides in-store recycling kiosks, online trade-in and home pickup options for all unused electronic items. In fiscal year 2010, it helped to prevent more than 140 million pounds of appliances and electronics from ending up in landfills around the world.
• The power of our people at work: More than 21,000 employees volunteered over 125,000 hours of their own time in fiscal 2010 in the communities across the U.S. where Best Buy operates – and they directed more than $5 million to their local nonprofits, as part of the $25.2 million in total Best Buy philanthropic donations. Best Buy also witnessed a six percent improvement its retention rate – to 75 percent – of employees who have been with the company for at least one year.
• Notable reductions in energy consumption: As one of the world’s largest electronics retailers, Best Buy is poised to play a key role in helping consumers and employees to better manage energy use, on both a personal and global scale. For example, Best Buy’s partnership with the U.S. Environmental Protection Agency (EPA) and the Department of Energy (DOE) through the ENERGY STAR® program will help its customers realize utility bill savings of $91 million, and save 796 kWh of electricity, plus 1.6 billion pounds of carbon dioxide ("CO₂”). Best Buy is also currently pilot-testing home energy management services that enable interaction between customers and utility companies, and allows consumers to monitor and control energy use and costs in their own homes.
• Power in the hands of teens: With more than 175,000 members, the Best Buy @15 program lets teens choose how to invest in their own communities. The @15 Exchange invites teens to direct the charitable giving of $1 million through www.at15.com. In fiscal 2010, some of the teen-selected recipients of these donations included Ashoka Youth Venture, Global Citizen Corps and PACER Center’s Teens Against Bullying.

For more information about Best Buy’s sustainability commitment and strategies, please visit http://www.bby.com/category/sustainability/.

About Best Buy Co., Inc.
With operations in the United States, Canada, Europe, China, Mexico and Turkey, Best Buy is a multinational retailer of technology and entertainment products and services with a commitment to growth and innovation. The Best Buy family of brands and partnerships collectively generates more than $49 billion in annual revenue and includes brands such as Best Buy, Best Buy Mobile, Audiovisions, The Carphone Warehouse, Five Star, Future Shop, Geek Squad, Magnolia Audio Video, Napster, Pacific Sales and The Phone House. Approximately 180,000 employees apply their talents to help bring the benefits of these brands to life for customers through retail locations, multiple call centers and Web sites, in-home solutions, product delivery and activities in our communities. Community partnership is central to the way we do business at Best Buy. In fiscal 2010, we donated a combined $25.2 million to improve the vitality of the communities where our employees and customers live and work. For more information about Best Buy, visit www.bby.com.