Earnings
Best Buy Co., Inc. (NYSE: BBY) has announced financial results for Q4 FY22.
Domestic comparable sales increased 2% on top of growth of 22.6% last year.
We had record second-quarter results with comparable sales growth of 20% and operating income growth of 40% compared to last year.
Best Buy today announced results for the 13-week first quarter ended May 1, 2021.
Enterprise Comparable Sales Increased 12.6%
Domestic Comparable Online Sales Increased 89.3%
GAAP Diluted EPS Increased 9% to $3.10
Non-GAAP Diluted EPS Increased 20% to $3.48
Quarterly Dividend Increased 27% to $0.70 per Share
MINNEAPOLIS, February 25, 2021 — Best Buy Co., Inc. (NYSE: BBY) today announced results for the 13-week fourth quarter ended January 30, 2021 (“Q4 FY21”), as compared to the 13-week fourth quarter ended February 1, 2020 (“Q4 FY20”).
(Click here to view full release and statements.)
| Revenue ($ in millions) | Q4 FY21 | Q4 FY20 | FY21 | FY20 |
| Enterprise | $16,937 | $15,196 | $47,262 | $43,638 |
| Domestic segment | $15,400 | $13,848 | $43,293 | $40,114 |
| International segment | $1,537 | $1,348 | $3,969 | $3,524 |
| Enterprise comparable sales % change1 | 12.6% | 3.2% | 9.7% | 2.1% |
| Domestic comparable sales % change1 | 12.4% | 3.4% | 9.2% | 2.3% |
| Domestic comparable online sales % change1 | 89.3% | 18.7% | 144.4% | 17.0% |
| International comparable sales % change1 | 14.9% | 1.6% | 15.0% | (0.5)% |
| Operating Income | ||||
| GAAP operating income as a % of revenue | 6.1% | 6.4% | 5.1% | 4.6% |
| Non-GAAP operating income as a % of revenue | 6.9% | 6.5% | 5.8% | 4.9% |
| Diluted Earnings per Share (“EPS”) | ||||
| GAAP diluted EPS | $3.10 | $2.84 | $6.84 | $5.75 |
| Non-GAAP diluted EPS | $3.48 | $2.90 | $7.91 | $6.07 |
For GAAP to non-GAAP reconciliations of the measures referred to in the above table, please refer to the attached supporting schedule.
Enterprise Comparable Sales Increased 23%
Domestic Comparable Online Sales Increased 174%
GAAP Diluted EPS Increased 35% to $1.48
Non-GAAP Diluted EPS Increased 82% to $2.06
MINNEAPOLIS, November 24, 2020 — Best Buy Co., Inc. (NYSE: BBY) today announced results for the 13-week third quarter ended October 31, 2020 (“Q3 FY21”), as compared to the 13-week third quarter ended November 2, 2019 (“Q3 FY20”).
(Click here for a PDF version. Click here to view full release and statements.)
| Revenue ($ in millions) | Q3 FY21 | Q3 FY20 |
| Enterprise | $11,853 | $9,764 |
| Domestic segment | $10,850 | $8,964 |
| International segment | $1,003 | $800 |
| Enterprise comparable sales % change1 | 23.0% | 1.7% |
| Domestic comparable sales % change1 | 22.6% | 2.0% |
| Domestic comparable online sales % change1 | 173.7% | 15.0% |
| International comparable sales % change1 | 27.3% | (1.9)% |
| Operating Income | ||
| GAAP operating income as a % of revenue | 4.7% | 4.0% |
| Non-GAAP operating income as a % of revenue | 6.1% | 4.2% |
| Diluted Earnings per Share (“EPS”) | ||
| GAAP diluted EPS | $1.48 | $1.10 |
| Non-GAAP diluted EPS | $2.06 | $1.13 |
For GAAP to non-GAAP reconciliations of the measures referred to in the above table, please refer to the attached supporting schedule.
Enterprise Comparable Sales Increased 5.8%
Domestic Comparable Online Sales Increased 242%
GAAP Diluted EPS Increased 85% to $1.65
Non-GAAP Diluted EPS Increased 58% to $1.71
MINNEAPOLIS, August 25, 2020 — Best Buy Co., Inc. (NYSE: BBY) today announced results for the 13-week second quarter ended August 1, 2020 (“Q2 FY21”), as compared to the 13-week second quarter ended August 3, 2019 (“Q2 FY20”).
(Click here for a PDF version. Click here to view full release and statements.)
| Revenue ($ in millions) | Q2 FY21 | Q2 FY20 |
| Enterprise | $9,910 | $9,536 |
| Domestic segment | $9,128 | $8,821 |
| International segment | $782 | $715 |
| Enterprise comparable sales % change1 | 5.8% | 1.6% |
| Domestic comparable sales % change1 | 5.0% | 1.9% |
| Domestic comparable online sales % change1 | 242.2% | 17.3% |
| International comparable sales % change1 | 15.1% | (1.9)% |
| Operating Income | ||
| GAAP operating income as a % of revenue | 5.7% | 3.3% |
| Non-GAAP operating income as a % of revenue | 5.9% | 4.0% |
| Diluted Earnings per Share (“EPS”) | ||
| GAAP diluted EPS | $1.65 | $0.89 |
| Non-GAAP diluted EPS | $1.71 | $1.08 |
For GAAP to non-GAAP reconciliations of the measures referred to in the above table, please refer to the attached supporting schedule.
Increasing Starting Hourly Wage to $15 on Aug. 2
Quarter-to-Date Sales Up Approximately 2.5% Compared to Last Year
Sales Up Approximately 15% Compared to Last Year Since Stores
Re-opened for Customer Shopping
MINNEAPOLIS, July 21, 2020 — Best Buy Co., Inc. (NYSE: BBY) today announced updates related to employee pay evolution and Q2 FY21 quarter-to-date sales performance.
Employee Pay Evolution
The company is raising the starting hourly wage for all Domestic employees to $15 effective Aug. 2.
“Strong consumer demand, combined with shopping experiences that emphasize safety and convenience, has helped produce our sales results to date,” Best Buy CEO Corie Barry said.
Enterprise Revenue Decreased 6.3%
Domestic Comparable Online Sales Increased 155.4%
GAAP Diluted EPS of $0.61
Non-GAAP Diluted EPS of $0.67
MINNEAPOLIS, May 21, 2020 — Best Buy Co., Inc. (NYSE: BBY) today announced results for the 13-week first quarter ended May 2, 2020 (“Q1 FY21”), as compared to the 13-week first quarter ended May 4, 2019 (“Q1 FY20”).
(Click here for a PDF version. Click here to view full release and statements.)
| Q1 FY21 | Q1 FY20 | |||||
| Revenue ($ in millions) | ||||||
| Enterprise | $8,562 | $9,142 | ||||
| Domestic segment | $7,915 | $8,481 | ||||
| International segment | $647 | $661 | ||||
| Enterprise comparable sales % change1 | (5.3)% | 1.1% | ||||
| Domestic comparable sales % change1 | (5.7)% | 1.3% | ||||
| Domestic comparable online sales % change1 | 155.4% | 14.5% | ||||
| International comparable sales % change1 | 0.2% | (1.2)% | ||||
| Operating Income | ||||||
| GAAP operating income as a % of revenue | 2.7% | 3.7% | ||||
| Non-GAAP operating income as a % of revenue | 2.9% | 3.8% | ||||
| Diluted Earnings per Share (“EPS”) | ||||||
| GAAP diluted EPS | $0.61 | $0.98 | ||||
| Non-GAAP diluted EPS | $0.67 | $1.02 |
For GAAP to non-GAAP reconciliations of the measures referred to in the above table, please refer to the attached supporting schedule.
MINNEAPOLIS, April 15, 2020 — Best Buy Co., Inc. (NYSE: BBY) today announced business updates related to the novel coronavirus (COVID-19).
Best Buy CEO Corie Barry said, “The situation we are all facing as a result of the COVID-19 pandemic is truly unprecedented. As we previously communicated, we made the decision for the health and safety of our customers and employees to shift our stores to a temporary enhanced curbside service-only model starting March 22. At that time, we also suspended all in-home delivery, installation and repairs.”
Enterprise comparable sales increased 3.2%, and GAAP Diluted EPS increased 6% to $2.84.