Available in .pdf: Best Buy Reports Fiscal Second Quarter Results
Non-GAAP EPS from continuing operations of $0.32
GAAP EPS from continuing operations of $0.69
$65 million in additional Renew Blue cost reductions
MINNEAPOLIS, August 20, 2013 — Best Buy Co., Inc. (NYSE: BBY) today announced results for the second quarter (“Q2 FY14”) ended August 3, 2013, as compared to the second quarter (“Q2 FY13”) ended August 4, 2012.
| Revenue |
Q2 FY14 |
Q2 FY13 |
| Revenue ($ in millions) |
$9,300 |
$9,339 |
| Comparable store sales % change1 |
(0.6%) |
(3.3%) |
| Domestic Segment: | ||
| Comparable store sales % change1 |
(0.4%) |
(1.6%) |
| Comparable online sales % change |
10.5% |
14.2% |
| International Segment: | ||
| Comparable store sales % change1 |
(1.8%) |
(11.3%) |
| Operating Income, Diluted EPS and Return on Invested Capital (ROIC) |
GAAP |
Non-GAAP2 |
||
|
Q2 FY14 |
Q2 FY13 |
Q2 FY14 |
Q2 FY13 |
|
| Operating income as a % of revenue |
4.4% |
0.9% |
2.2% |
1.9% |
| Diluted EPS from continuing operations |
$0.69 |
$0.09 |
$0.32 |
$0.26 |
| ROIC3 |
n/a |
n/a |
9.1% |
11.2% |
Note: During Q2 FY14, the company reached legal settlements with multiple defendants under which it will receive a total of $229 million, net of litigation costs (approximately $30 million in cash was received in Q2 FY14, with the remainder to be received in installments over the next eight quarters).
