Non-GAAP diluted EPS from continuing operations of $0.33
GAAP diluted EPS from continuing operations of $1.31
$95 million in additional annualized Renew Blue cost reductions
MINNEAPOLIS, May 22, 2014 — Best Buy Co., Inc. (NYSE: BBY) today announced results for the 13-week first quarter (“Q1 FY15”) ended May 3, 2014 as compared to the 13-week first quarter (“Q1 FY14”) ended May 4, 2013.
Revenue | Q1 FY15 | Q1 FY14 |
Revenue ($ in millions) | $9,035 | $9,347 |
Comparable sales % change1 | (1.9%) | (1.4%) |
Domestic Segment: | ||
Comparable sales % change | (1.3%) | (1.2%) |
Comparable online sales % change | 29.2% | 16.3% |
International Segment: | ||
Comparable sales % change | (5.8%) | (2.8%) |
Operating Income | Q1 FY15 | Q1 FY14 |
GAAPoperating income as a % of revenue | 2.2% | 1.8% |
Non-GAAPoperating income as a % of revenue2 | 2.3% | 2.0% |
Diluted EPS | Q1 FY15 | Q1 FY14 |
GAAP diluted EPS from continuing operations | $1.31 | $0.29 |
Impact of non-restructuring asset impairments | 0.02 | 0.02 |
Impact of restructuring charges | 0.01 | 0.01 |
Benefit of income tax effect of Europe legal entity reorganization | (1.01) | 0.00 |
Non-GAAP diluted EPS from continuing operations2 | $0.33 | $0.32 |
Hubert Joly, Best Buy president and CEO, commented, “This quarter reflects continued progress in our Renew Blue transformation.