Best Buy picks Nordstrom alum for CFO

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Anne Bramman succeeds Matt Bilunas, who left the retailer last month after serving as its finance chief for seven years.

While Best Buy has seen revenue slow in recent years, incoming CEO Bonfig’s vision includes expanding Best Buy’s reach in a number of ways including opening more medium and small-format stores and growing through secondary business such as advertising.

In its note Telsey maintained its “outperform rating” on Best Buy and raised its 12-month price target to $95 from $90. “We believe Best Buy continues to execute well and maintain/gain market share in consumer electronics, based on its ability to introduce newness, leverage its scale and vendor relationships, manage costs, and operate efficiently,” the report states.

Bramman has most recently worked as a senior adviser and executive coach at Boston Consulting Group, according to her LinkedIn profile.

She previously served as CFO of Circana, a consumer analytics company from June 2023 to August 2024. She also worked as finance chief of department store chain Nordstrom from June of 2017 to December of 2022. She was also finance chief of Avery Dennisson and Carnival Cruise Lines.

At Best Buy, Bramman’s compensation will include an annual base salary of $950,000 , according to a company filing with the U.S. Securities and Exchange Commission. She will also get a sign-on cash award of $500,000 and a sign-on equity award valued at $1.25 million.

“I’ve long admired Best Buy’s ability to adapt, innovate and stay deeply connected to its customers,” Bramman said in a statement in the release. “I’m thrilled to join the company and I look forward to working with Jason and the impressive Best Buy team to help accelerate growth and build an exciting future together.”

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Bankruptcy filings have continued in recent months, including from QVC Group and Sleep Number.

Retailers in the category face a poor housing market, elevated interest rates, low consumer confidence and ever-changing tariff policies.

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Bankruptcy filings have continued in recent months, including from QVC Group and Sleep Number.

Retailers in the category face a poor housing market, elevated interest rates, low consumer confidence and ever-changing tariff policies.

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