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MarketScreener Homepage  >  Equities  >  Nyse  >  Best Buy Co., Inc    BBY

BEST BUY CO., INC

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Diwali: A festival of lights and community

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10/07/2019 | 06:07pm EST

October 7, 2019

Diwali: A festival of lights and community Mallory WestStaff Writer
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When Divya Maiya, a Best Buy product manager, moved to the United States nine years ago from India, she thought she would have to say goodbye to traditions. Traditions like Diwali, a festival of lights that celebrates the victory of good over evil.

To her great surprise, she learned that Best Buy not only encourages employees to celebrate the holiday, it hosts a large celebration at its corporate office. Last year's event drew 400 people.

'I couldn't even adapt to it for the first year. It was so weird to wear a sari and go to a meeting, so I didn't,' Divya said. 'But now I know that Best Buy is a great place for me to be myself and bring my cultures, traditions and dances.'

This year, Diwali falls on Sunday, Oct. 27, but the company will celebrate on Friday, Oct. 25. It's expected to be the biggest celebration in the company's history.

Celebrating Diwali at Best Buy

For the last five years, Best Buy's Asian Employee Resource Group has been hosting an annual Diwali celebration. The event draws employees in traditional dress, company leaders and performers. Traditional Indian food, dance and henna are featured.

'We want to make Best Buy an inclusive place where people can come and celebrate what's important to them while also teaching others about our culture,' said Ram Kundoor, chair of the employee group. 'It's been so much fun to come to work and see so many wonderful colors and people laughing together.'

Customers will also be able to join in the fun with unique Diwali gift cards that can be purchased online. For the first time, customers can also buy gifts or technology to help prepare for own their celebrations with a custom Diwali gift list on BestBuy.com.

For Divya, Diwali is more than a celebration. It's a reminder that community is everywhere.

'We are all people, we are all human. That's what festivals mean to me, bringing people together and noticing what is different but also really noticing what is similar and how we can work with one another,' she said.

Click here to see tech for Diwali.

Disclaimer

Best Buy Co. Inc. published this content on 07 October 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 October 2019 22:06:03 UTC

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Financials (USD)
Sales 2020 43 415 M
EBIT 2020 2 035 M
Net income 2020 1 474 M
Finance 2020 651 M
Yield 2020 2,66%
P/E ratio 2020 13,9x
P/E ratio 2021 13,0x
EV / Sales2020 0,45x
EV / Sales2021 0,45x
Capitalization 20 319 M
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Number of Analysts 31
Average target price 74,72  $
Last Close Price 77,09  $
Spread / Highest target 29,7%
Spread / Average Target -3,07%
Spread / Lowest Target -28,7%
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Managers
NameTitle
Corie Sue Barry Chief Executive Officer & Director
Rajendra Michael Mohan President & Chief Operating Officer
Hubert Joly Executive Chairman
Matthew Bilunas Chief Financial Officer
Brian Tilzer Chief Digital & Technology Officer
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