Comparable Sales Declined 6.9%
GAAP Diluted EPS of $1.21
Non-GAAP Diluted EPS of $1.29
MINNEAPOLIS, November 21, 2023 — Best Buy Co., Inc. (NYSE: BBY) today announced results for the 13-week third quarter ended October 28, 2023 (“Q3 FY24”), as compared to the 13-week third quarter ended October 29, 2022 (“Q3 FY23”).
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| Q3 FY24 | Q3 FY23 | |
| Revenue ($ in millions) | ||
| Enterprise | $9,756 | $10,587 |
| Domestic segment | $8,996 | $9,800 |
| International segment | $760 | $787 |
| Enterprise comparable sales % change1 | (6.9)% | (10.4)% |
| Domestic comparable sales % change1 | (7.3)% | (10.5)% |
| Domestic comparable online sales % change1 | (9.3)% | (11.6)% |
| International comparable sales % change1 | (1.9)% | (9.3)% |
| Operating Income | ||
| GAAP operating income as a % of revenue | 3.6% | 3.4% |
| Non-GAAP operating income as a % of revenue | 3.8% | 3.9% |
| Diluted Earnings per Share (“EPS”) | ||
| GAAP diluted EPS | $1.21 | $1.22 |
| Non-GAAP diluted EPS | $1.29 | $1.38 |
For GAAP to non-GAAP reconciliations of the measures referred to in the above table, please refer to the attached supporting schedule.
