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14 Jan: Best Buy Reports Holiday Revenue Results

Domestic Revenue Decreased 0.8%

Repurchased $203 million in Stock for a Year-to-Date Total of $588 million

Improving the Fourth Quarter Operating Margin Outlook

MINNEAPOLIS, Jan. 14, 2016 — Best Buy Co., Inc. (NYSE: BBY) today announced revenue results for the nine weeks ended January 2, 2016 as compared to the nine weeks ended Jan. 3, 2015. PDF version.

Fiscal 2016 Holiday Revenue Summary 9 weeks ended January 2, 2016 9 weeks ended January 3, 2015
Enterprise Revenue ($ in millions)1 $10,961 $11,366
Domestic segment $10,050 $10,132
Domestic segment year-over-year revenue change (0.8%) 4.1%
International segment1 $911 $1,233
Enterprise Comparable Sales % Change:
Excluding the estimated benefit of installment billing2,3 (1.4%) 1.8%4
Estimated benefit of installment billing3  0.2%  0.7%
Comparable sales % change2 (1.2%) 2.5%4
Domestic Comparable Sales % Change:
Excluding the estimated benefit of installment billing2,3 (1.4%) 2.6%
Estimated benefit of installment billing3 0.2% 0.8%
Comparable sales % change2 (1.2%) 3.4%
Comparable online sales % change2 12.6% 13.4%

 

Hubert Joly, Best Buy chairman and CEO, commented, “During the holiday period, Domestic revenue declined 0.8% against a backdrop where the NPD-reported categories were down a greater-than-expected 4.8%5.