earnings

01 Mar: Best Buy Reports Better-than-Expected Fourth Quarter Results

GAAP Diluted EPS Increased 37% to $1.91

Non-GAAP Diluted EPS Increased 27% to $1.95

Full Year GAAP and Non-GAAP Diluted EPS Increased 63% and 28% respectively

MINNEAPOLIS, March 1, 2017 — Best Buy Co., Inc. (NYSE: BBY) today announced results for the fourth quarter (“Q4 FY17”) and year ended January 28, 2017 (“FY17”), as compared to the fourth quarter (“Q4 FY16”) and year ended January 30, 2016 (“FY16”). The company reported Q4 FY17 GAAP diluted earnings per share from continuing operations of $1.91, an increase of 37% from $1.39 in Q4 FY16.

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17 Nov: Best Buy Reports Better-than-Expected Third Quarter Results

Domestic Segment Comparable Sales Increased 1.8%

GAAP Diluted EPS Increased 62% to $0.60

Non-GAAP Diluted EPS Increased 51% to $0.62

MINNEAPOLIS, November 17, 2016 — Best Buy Co., Inc. (NYSE: BBY) today announced results for the third quarter ended October 29, 2016 (“Q3 FY17”), as compared to the third quarter ended October 31, 2015 (“Q3 FY16”). The company reported GAAP diluted earnings per share from continuing operations of $0.60, an increase of 62% from $0.37 in Q3 FY16. Non-GAAP diluted earnings per share from continuing operations were $0.62, an increase of 51% from $0.41 in Q3 FY16.

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23 Aug: Best Buy Reports Better-than-Expected Second Quarter Results

Domestic Segment Comparable Sales Increased 0.8%

GAAP Diluted EPS Increased 22% to $0.56

Non-GAAP Diluted EPS Increased 16% to $0.57

MINNEAPOLIS, August 23, 2016 — Best Buy Co., Inc. (NYSE: BBY) today announced results for the second quarter ended July 30, 2016 (“Q2 FY17”), as compared to the second quarter ended August 1, 2015 (“Q2 FY16”). The company reported GAAP diluted earnings per share from continuing operations of $0.56, an increase of 22% from $0.46 in Q2 FY16. Non-GAAP diluted earnings per share from continuing operations were $0.57, an increase of 16% from $0.49 in Q2 FY16.

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24 May: Best Buy Reports Better-Than-Expected First Quarter Results

GAAP Diluted EPS of $0.69

Non-GAAP Diluted EPS Increased 19% to $0.44

Domestic Segment Comparable Sales Essentially Flat

MINNEAPOLIS, May 24, 2016 — Best Buy Co., Inc. (NYSE: BBY) today announced results for the first quarter ended April 30, 2016 (“Q1 FY17”), as compared to the first quarter ended May 2, 2015 (“Q1 FY16”). The company reported GAAP diluted earnings from continuing operations of $0.69, an increase from $0.10 in Q1 FY16. Non-GAAP diluted earnings per share from continuing operations were $0.44, an increase of 19% from $0.37 in Q1 FY16.

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25 Feb: Best Buy Reports Better-Than-Expected Fourth Quarter Earnings

Non-GAAP Diluted EPS from Continuing Operations Increased 3% to $1.53

GAAP Diluted EPS from Continuing Operations Decreased 5% to $1.39

Domestic Segment Revenue Decreased 1.5%

Repurchased $615 million in Stock for a Fiscal 2016 Total of $1 billion

MINNEAPOLIS, February 25, 2016 — Best Buy Co., Inc. (NYSE: BBY) today announced results for the fourth quarter (“Q4 FY16”) and year ended January 30, 2016 (“FY16”), as compared to the fourth quarter (“Q4 FY15”) and year ended January 31, 2015 (“FY15”). PDF Version.

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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 billing^2,3	(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 billing^2,3	(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.

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19 Nov: Best Buy Reports Third Quarter Results

Domestic Segment Revenue Increased 1.2%

Non-GAAP Diluted EPS from Continuing Operations Increased 21% to $0.41

GAAP Diluted EPS from Continuing Operations Increased 12% to $0.37

MINNEAPOLIS, Nov. 19, 2015 — Best Buy Co., Inc. (NYSE: BBY) today announced results for the third quarter (“Q3 FY16”) ended October 31, 2015 as compared to the third quarter (“Q3 FY15”) ended November 1, 2014.

Printable PDF version: Click here

	Q3 FY16	Q3 FY15
Enterprise Revenue ($ in millions)¹	$8,819	$9,032
Domestic segment	$8,090	$7,992
International segment¹	$729	$1,040
Enterprise Comparable Sales % Change:
Excluding the estimated benefit of installment billing^2,3	0.5%	2.2%⁴
Estimated benefit of installment billing³	0.3%	0.7%
Comparable sales % change²	0.8%	2.9%⁴
Domestic Comparable Sales % Change:
Excluding the estimated benefit of installment billing^2,3	0.5%	2.4%
Estimated benefit of installment billing³	0.3%	0.8%
Comparable sales % change²	0.8%	3.2%
Comparable online sales % change²	18.3%	21.6%

	Q3 FY16	Q3 FY15
Operating Income:
GAAP operating income as a % of revenue	2.6%	2.3%
Non-GAAP operating income as a % of revenue⁵	2.8%	2.4%
Diluted Earnings per Share (EPS):
GAAP diluted EPS from continuing operations	$0.37	$0.33
Impact of non-restructuring SG&A charges⁶	$0.02	$0.02
Impact of restructuring charges⁶	$0.02	$0.01
Impact of gain on investments, net	$0.00	($0.01)
Income tax impact of Non-GAAP adjustments⁷	$0.00	($0.01)
Non-GAAP diluted EPS from continuing operations⁵	$0.41	$0.34

Hubert Joly, Best Buy chairman and CEO, commented, “We have delivered another quarter of Domestic comparable sales growth and operating income expansion.

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25 Aug: Best Buy Reports Fiscal Second Quarter Results

Domestic Segment Revenue Increased 3.9%

Non-GAAP Diluted EPS from Continuing Operations Increased 17% to $0.49

GAAP Diluted EPS from Continuing Operations Increased 18% to $0.46

MINNEAPOLIS, August 25, 2015 — Best Buy Co., Inc. (NYSE: BBY) today announced results for the second quarter (“Q2 FY16”) ended August 1, 2015 as compared to the second quarter (“Q2 FY15”) ended August 2, 2014.

Printable PDF version: Click here

	Q2 FY16	Q2 FY15
Enterprise Revenue ($ in millions)¹	$8,528	$8,459
Domestic segment	$7,878	$7,585
International segment¹	$650	$874
Enterprise Comparable Sales % Change:
Excluding the estimated benefit of installment billing^2,3	2.7%	(2.2%)⁴
Estimated benefit of installment billing³	1.1%	—
Comparable sales % change²	3.8%	(2.2%)⁴
Domestic Comparable Sales % Change:
Excluding the estimated benefit of installment billing^2,3	2.7%	(2.0%)
Estimated benefit of installment billing³	1.1%	—
Comparable sales % change²	3.8%	(2.0%)
Comparable online sales % change²	17.0%	22.0%

	Q2 FY16	Q2 FY15
Operating Income:
GAAP operating income as a % of revenue	3.4%	2.7%
Non-GAAP operating income as a % of revenue⁵	3.4%	2.9%
Diluted Earnings per Share (EPS):
GAAP diluted EPS from continuing operations	$0.46	$0.39
Impact of cathode ray tube (CRT) settlements⁶	($0.03)	$0.00
Impact of non-restructuring SG&A charges⁷	$0.03	$0.02
Impact of restructuring charges⁷	$0.03	$0.01
Non-GAAP diluted EPS from continuing operations⁵	$0.49	$0.42

Hubert Joly, Best Buy chairman and CEO, commented, “We believe these better-than-expected second quarter results are affirmation that our strategy of offering advice, service and convenience at competitive prices is paying off.

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21 May: Best Buy Reports First Quarter Results

Non-GAAP Diluted EPS from Continuing Operations of $0.37

GAAP Diluted EPS from Continuing Operations of $0.10

MINNEAPOLIS — May 21, 2015 — Best Buy Co., Inc. (NYSE: BBY) today announced results for the first quarter (“Q1 FY16”) ended May 2, 2015 as compared to the first quarter (“Q1 FY15”) ended May 3, 2014. During the quarter, as announced on March 28, 2015, the company consolidated the Future Shop and Best Buy brands in Canada under the Best Buy brand.

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03 Mar: Best Buy Reports Fourth Quarter Results

Non-GAAP Diluted EPS from Continuing Operations of $1.48

GAAP Diluted EPS from Continuing Operations of $1.47

Annualized Renew Blue Cost Reductions Reach $1.02 billion

MINNEAPOLIS — March 3, 2015 — Best Buy Co., Inc. (NYSE: BBY) today announced results for the fourth quarter (“Q4 FY15”) and year ended January 31, 2015 (“FY15”), as compared to the fourth quarter (“Q4 FY14”) and year ended February 1, 2014 (“FY14”). The company today also announced that on February 13, 2015, it completed the sale of its Five Star business in China, which was classified as held for sale as of January 31, 2015, and is reporting the Five Star results in discontinued operations.

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15 Jan: Best Buy Reports Increase in Holiday Revenue

Enterprise revenue increased 2.1%

Domestic comparable sales increased 2.6%, excluding the

benefit of mobile phone installment billing

MINNEAPOLIS — Jan. 15, 2015 — Best Buy Co., Inc. (NYSE: BBY) today announced revenue results for the nine weeks ended January 3, 2015, as compared to the nine weeks ended January 4, 2014, excluding revenue from the Five Star business in China. As announced on December 4, 2014, the company entered into a definitive agreement for the sale of its Five Star business in China and expects to include its results in discontinued operations beginning in Q4 FY15.

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20 Nov: Best Buy Announces Fiscal Third Quarter Results

Non-GAAP diluted EPS from continuing operations of $0.32

GAAP diluted EPS from continuing operations of $0.30

$65 million in additional annualized Renew Blue cost reductions, bringing the cumulative total to $965 million

MINNEAPOLIS, November 20, 2014 — Best Buy Co., Inc. (NYSE: BBY) today announced results for the 13-week third quarter (“Q3 FY15”) ended November 1, 2014, as compared to the 13-week third quarter (“Q3 FY14”) ended November 2, 2013.

Revenue	Q3 FY15	Q3 FY14
Revenue ($ in millions)	$9,380	$9,327
Comparable sales % change^1,2	2.2%	0.3%
Domestic Segment:
Comparable sales % change	3.2%	1.8%
Comparable online sales % change	21.6%	15.1%
International Segment:
Comparable sales % change	(3.0%)	(6.4%)

Operating Income	Q3 FY15	Q3 FY14
GAAP operating income as a % of revenue	2.0%	1.0%
Non-GAAP operating income as a % of revenue³	2.2%	1.4%

Diluted EPS	Q3 FY15	Q3 FY14
GAAP diluted EPS from continuing operations	$0.30	$0.12
Impact of non-restructuring asset impairments	$0.01	$0.02
Impact of restructuring charges	$0.02	$0.06
Impact of gain on sale of investments	($0.01)	($0.01)
Benefit of income tax impact of Best Buy Europe sale	$0.00	($0.01)
Non-GAAP diluted EPS from continuing operations³	$0.32	$0.18

Hubert Joly, Best Buy president and CEO, commented, “In the third quarter, our teams delivered positive comparable sales, improved profitability and continued progress in our Renew Blue transformation.

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