Earnings

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.

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	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.

By Best Buy Company News PR News Alerts

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.

By Best Buy Company News PR News Alerts

03 Mar: Best Buy Announces Capital Return to Shareholders

Special Dividend of $0.51 per Share or Approximately $180 Million

21% Increase in Quarterly Dividend to $0.23 per Share

$1 Billion in Share Repurchases over Three Years

MINNEAPOLIS — March 3, 2015 — Best Buy Co., Inc. (NYSE: BBY) today announced that its Board of Directors authorized a plan to return excess capital to shareholders as follows:

A special, one-time dividend of $0.51 per share, or approximately $180 million, related to the net after-tax proceeds from LCD-related legal settlements received in the last three fiscal years;
A 21% increase in the regular quarterly dividend to $0.23 per share, effective immediately; and
The resumption of share repurchases under the existing $5 billion authorization, with the intent to repurchase $1 billion worth of shares over the next three years.

By Best Buy Company News PR News Alerts

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.

By Best Buy Company News PR News Alerts

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.

By Best Buy Company News

04 Dec: Best Buy to Sell its Five Star Business in China

MINNEAPOLIS – Dec. 4, 2014 – Best Buy Co., Inc. (NYSE:BBY) today announced that it has entered into a definitive agreement for the sale of its Five Star business to the Jiayuan Group, a prominent China-based real estate firm led by Chairman Yuxing Shen. This sale does not affect Best Buy’s private label operations in China.

“Over the last two years we have worked to improve our business in China and are proud of the progress we have made there,” said Hubert Joly, president and chief executive officer of Best Buy.

By Best Buy Company News Featured

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.

By Best Buy Company News

26 Aug: Best Buy Reports Second Quarter Results

Non-GAAP diluted EPS from continuing operations of $0.44

GAAP diluted EPS from continuing operations of $0.42

$40 million in additional annualized Renew Blue cost reductions, bringing the cumulative total to $900 million

MINNEAPOLIS, August 26, 2014 — Best Buy Co., Inc. (NYSE: BBY) today announced results for the 13-week second quarter (“Q2 FY15”) ended August 2, 2014 as compared to the 13-week second quarter (“Q2 FY14”) ended August 3, 2013.

Revenue	Q2 FY15	Q2 FY14
Revenue ($ in millions)	$8,896	$9,266
Comparable sales % change¹	(2.7%)	(0.6%)
Domestic Segment:
Comparable sales % change	(2.0%)	(0.4%)
Comparable online sales % change	22.0%	10.5%
International Segment:
Comparable sales % change	(6.7%)	(1.8%)

Operating Income	Q2 FY15	Q2 FY14
GAAPoperating income as a % of revenue	2.7%	4.5%
Non-GAAPoperating income as a % of revenue²	2.9%	2.2%

Diluted EPS	Q2 FY15	Q2 FY14
GAAP diluted EPS from continuing operations	$0.42	$0.69
Impact of net LCD settlements³	$0.00	($0.43)
Impact of non-restructuring asset impairments	$0.02	$0.03
Impact of restructuring charges	$0.00	$0.01
Impact of gain on sale of investments	$0.00	($0.03)
Benefit of income tax impact of Best Buy Europe sale	$0.00	$0.05
Non-GAAP diluted EPS from continuing operations²	$0.44	$0.32

Hubert Joly, Best Buy president and CEO, commented, “In the second quarter, we delivered $8.9 billion in revenue and $0.44 in non-GAAP diluted earnings per share versus $0.32 last year.

By Best Buy Company News Featured

22 May: Best Buy Reports First Quarter Results

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.

By Best Buy Company News Featured

20 Aug: Best Buy Reports Quarter 2 Earnings

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).

By Best Buy Company News Featured

20 Nov: Best Buy Confirms Significant Decline in Fiscal Third Quarter 2013 Earnings

MINNEAPOLIS, November 20, 2012 – Best Buy Co., Inc. (NYSE: BBY) today announced a GAAP net loss from continuing operations of $13 million, or $0.04 per share, for the three months ended November 3, 2012 compared to net earnings from continuing operations of $173 million, or $0.47 per diluted share for the prior-year period. Excluding previously announced restructuring charges, adjusted (non-GAAP) net earnings from continuing operations for the third quarter of fiscal 2013 were $10 million, or $0.03 per diluted share compared to $173 million and $0.47 for the prior-year period.

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