UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549
 
FORM 8-K
 
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
 
Date of Report (Date of earliest event reported) December 18, 2009

 
BEST BUY CO., INC.
(Exact name of registrant as specified in its charter)

Minnesota	 	1-9595	 	41-0907483	
(State or other jurisdiction	 	(Commission	 	(IRS Employer	
of incorporation)	 	File Number)	 	Identification No.)	

7601 Penn Avenue South	 	 	
Richfield, Minnesota	 	55423	
(Address of principal executive offices)	 	(Zip Code)	
 
Registrant’s telephone number, including area code (612) 291-1000
 
N/A
(Former name or former address, if changed since last report.)
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
 
o     Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
o     Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
o     Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
o     Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 
Item 8.01 Other Events.
 
As reported in a news release on December 18, 2009, Best Buy Co., Inc. announced program enhancements and membership changes to its Reward Zone customer loyalty program in the U.S. The news release issued on December 18, 2009, is furnished as Exhibit No. 99 to this Current Report on Form 8-K.
 
Best Buy Co., Inc.’s Annual Report to Shareholders and its reports on Forms 10-K, 10-Q and 8-K and other publicly available information should be consulted for other important information about the registrant.
 
Some of the matters discussed in this Current Report on Form 8-K (including Exhibit 99) constitute forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include statements other than those made solely with respect to historical fact and are based on the intent, belief or current expectations of the registrant and its management.  The registrant’s business and operations are subject to a variety of risks and uncertainties that might cause actual results to differ materially from those projected by any forward-looking statements. Factors that could cause such differences include, but are not limited to, those factors set forth in the press release attached hereto as Exhibit 99 and the risk factors set forth in the registrant’s filings with the SEC, which includes Item 1A, Risk Factors, of our Annual Report on Form 10-K for the fiscal year ended February 28, 2009.
 
Item 9.01 Financial Statements and Exhibits .
 
(d) Exhibits.
 
The following is furnished as an Exhibit to this Report.

Exhibit No.	 	Description of Exhibit	
99	 	News release issued December 18, 2009. Any internet addresses provided in this release are for information purposes only and are not intended to be hyperlinks. Accordingly, no information in any of these internet addresses is included herein.	
 
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SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 	 	BEST BUY CO., INC.	
 	 	(Registrant)	
 	 	 	
Date: December 18, 2009	By:	/s/ SUSAN S. GRAFTON	
 	 	Susan S. Grafton	
 	 	Vice President, Controller and Chief Accounting Officer	
 
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Exhibit 99

 

Media Contacts:	 	 	
Lisa Hawks	 	Jennifer McNamara	
(612) 291-6150	 	(612)291-2840	
lisa.hawks@bestbuy.com	 	jennifer.mcnamara@bestbuy.com	
 
Best Buy Enhances Reward Zone Loyalty Program with Faster Reward Delivery and Improved Online Communication
 
New members encouraged to log on to keep their account active
 
MINNEAPOLIS, Dec. 18, 2009 — Best Buy (NYSE:BBY) today announced enhancements to its popular Reward Zone customer loyalty program in the U.S., including increasing speed of reward certificate delivery and enriched communication with members. Reward Zone members are encouraged to log on to their account at myrewardzone.com and provide a valid email address to ensure continued access to the program.
 
“Our Reward Zone members told us they want more communication, more offers and better support,” said Barry Judge, Best Buy chief marketing officer. “We listened and made improvements that allow for a more customized experience, and ultimately, more meaningful benefits.”
 
Some enhancements to the Reward Zone program include:
 
·                   Personalized offers based on personal preference
 
·                   Electronic reward certificates for quicker delivery
 
·                   Access to exclusive online communities, forums and special product tips
 
·                   Continued access to personal account information, including checking recent points and purchases, and issuing of certificates
 
By requiring members (excluding Premier Silver, Reward Zone MasterCard and credit cardholders) to provide a valid email address to remain active, U.S. membership decreased from 33 million memberships to 19.9 million memberships. This reduction in membership allows the company to provide richer benefits and offers to its most loyal customers.
 
Reward Zone is a customer loyalty program for U.S. Best Buy customers. Members can earn Reward Zone points for purchases at Best Buy stores, bestbuy.com and Reward Zone partners. Points are cashed out in the form of reward certificates redeemable for future in-store and bestbuy.com purchases. In addition to points, program members receive exclusive offers, entry into sweepstakes and invitations to member-only events.

 
The Reward Zone Loyalty Program carries no membership fees and members need to make just one Best Buy purchase per calendar year to continue their membership.
 
About Best Buy Co., Inc.
 
With operations in the United States, Canada, Europe, China and Mexico, 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 $45 billion in annual revenue and includes brands such as Best Buy; Audiovisions; The Carphone Warehouse; Future Shop; Geek Squad, Jiangsu Five Star; Magnolia Audio Video; Napster; Pacific Sales; The Phone House; and Speakeasy. Approximately 155,000 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 its communities. Community partnership is central to the way business is done at Best Buy. In fiscal 2009, Best Buy donated a combined $33.4 million to improve the vitality of the communities where its employees and customers live and work. For more information about Best Buy, visit www.bestbuy.com.
 
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