Financial results

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24 Aug: Best Buy reports better-than-expected Q2 FY22 results

Enterprise Comparable Sales Increased 20%

GAAP Diluted EPS Increased 76% to $2.90

Non-GAAP Diluted EPS Increased 74% to $2.98

Excluding a $0.47 Benefit from a Lower Year-Over-Year Effective Tax Rate, GAAP and Non-GAAP Diluted EPS Increased Approximately 47%

Raises Full-Year Enterprise Comparable Sales Growth Outlook to a Range of 9% to 11%

MINNEAPOLIS, August 24, 2021 — Best Buy Co., Inc. (NYSE: BBY) today announced results for the 13-week second quarter ended July 31, 2021 (“Q2 FY22”), as compared to the 13-week second quarter ended August 1, 2020 (“Q2 FY21”).

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27 May: Best Buy reports better-than-expected Q1 FY22 results

Enterprise Comparable Sales Increased 37.2%

GAAP Diluted EPS Increased 280% to $2.32

Non-GAAP Diluted EPS Increased 233% to $2.23

Raises Full-Year Enterprise Comparable Sales Growth Outlook to a Range of 3% to 6%

MINNEAPOLIS, May 27, 2021 — Best Buy Co., Inc. (NYSE: BBY) today announced results for the 13-week first quarter ended May 1, 2021 (“Q1 FY22”), as compared to the 13-week first quarter ended May 2, 2020 (“Q1 FY21”).

Revenue ($ in millions)Q1 FY22  Q1 FY21
Enterprise$11,637 $8,562
Domestic segment$10,841 $7,915
International segment$796 $647
Enterprise comparable sales % change1 37.2% (5.3)%
Domestic comparable sales % change1 37.9% (5.7)%
Domestic comparable online sales % change1 7.6% 155.4%
International comparable sales % change1 27.8%0.2%
Operating Income  
GAAP operating income as a % of revenue 6.6% 2.7%
Non-GAAP operating income as a % of revenue 6.4% 2.9%
Diluted Earnings per Share (“EPS”)  
GAAP diluted EPS$2.32 $0.61
Non-GAAP diluted EPS$2.23 $0.67

For GAAP to non-GAAP reconciliations of the measures referred to in the above table, please refer to the attached supporting schedule.

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25 Feb: Best Buy Reports Q4 FY21 Results

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.

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24 Nov: Best Buy Reports Q3 FY21 Results

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.

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25 Aug: Best Buy Reports Q2 FY21 Results

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 % change15.8%1.6%
Domestic comparable sales % change15.0%1.9%
Domestic comparable online sales % change1242.2%17.3%
International comparable sales % change115.1%(1.9)%
Operating Income  
GAAP operating income as a % of revenue5.7%3.3%
Non-GAAP operating income as a % of revenue5.9%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.

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21 May: Best Buy Reports Q1 FY21 Results

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 FY21Q1 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.

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27 Feb: Best Buy Reports Better-Than-Expected Q4 FY20 Results

Enterprise Comparable Sales Increased 3.2%

GAAP Diluted EPS Increased 6% to $2.84

Non-GAAP Diluted EPS Increased 7% to $2.90

Announces FY21 Non-GAAP Diluted EPS Guidance of $6.10 to $6.30

Increases Quarterly Dividend 10% to $0.55 per Share

MINNEAPOLIS, February 27, 2020 — Best Buy Co., Inc. (NYSE: BBY) today announced results for the 13-week fourth quarter ended February 1, 2020 (“Q4 FY20”), as compared to the 13-week fourth quarter ended February 2, 2019 (“Q4 FY19”).

(Click here for a PDF version. 

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26 Nov: Best Buy Reports Better-Than-Expected Q3 FY20 Results

Enterprise Comparable Sales Increased 1.7%

GAAP Diluted EPS Increased 11% to $1.10

Non-GAAP Diluted EPS Increased 22% to $1.13

Raises Full-Year Non-GAAP Diluted EPS Guidance Range to $5.81 to $5.91

MINNEAPOLIS, November 26, 2019 — Best Buy Co., Inc. (NYSE: BBY) today announced results for the 13-week third quarter ended November 2, 2019 (“Q3 FY20”), as compared to the 13-week third quarter ended November 3, 2018 (“Q3 FY19”).

(Click here for a PDF version. Click here to view full release and statements.)

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29 Aug: Best Buy Reports Better-Than-Expected Q2 FY20 Earnings

Enterprise Comparable Sales Increased 1.6%

GAAP Diluted EPS Increased 3% to $0.89

Non-GAAP Diluted EPS Increased 19% to $1.08

Raises Full-Year Non-GAAP Diluted EPS Guidance Range to $5.60 to $5.75

 

MINNEAPOLIS, August 29, 2019 — Best Buy Co., Inc. (NYSE: BBY) today announced results for the 13-week second quarter ended August 3, 2019 (“Q2 FY20”), as compared to the 13-week second quarter ended August 4, 2018 (“Q2 FY19”).

(Click here for a PDF version. Click here to view full release and statements.)

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23 May: Best Buy Reports Better-Than-Expected Q1 FY20 Earnings

Enterprise Comparable Sales Increased 1.1%

GAAP Diluted EPS Increased 36% to $0.98

Non-GAAP Diluted EPS Increased 24% to $1.02

 

MINNEAPOLIS, May 23, 2019 — Best Buy Co., Inc. (NYSE: BBY) today announced results for the 13-week first quarter ended May 4, 2019 (“Q1 FY20”), as compared to the 13-week first quarter ended May 5, 2018 (“Q1 FY19”).

(Click here for a PDF version. Click here to view full release and statements.)

Q1 FY20 Q1 FY19
Revenue ($ in millions)  
Enterprise $ 9,142 $ 9,109
Domestic segment $ 8,481 $ 8,412
International segment $ 661 $ 697
Enterprise comparable sales % change1 1.1% 7.1%
Domestic comparable sales % change1 1.3% 7.1%
Domestic comparable online sales % change1 14.5% 12.0%
International comparable sales % change1 (1.2)% 6.4%
Operating Income
GAAP operating income as a % of revenue 3.7% 2.9%
Non-GAAP operating income as a % of revenue 3.8% 3.3%
Diluted Earnings per Share (“EPS”)
GAAP diluted EPS $ 0.98 $ 0.72
Non-GAAP diluted EPS $ 1.02 $ 0.82

 

For GAAP to non-GAAP reconciliations of the measures referred to in the above table, please refer to the attached supporting schedule Reconciliation of Non-GAAP Financial Measures.

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27 Feb: Best Buy Reports Better-Than-Expected Q4 FY19 Earnings

Enterprise Comparable Sales Increased 3.0%

GAAP Diluted EPS Increased 119% to $2.69

Non-GAAP Diluted EPS Increased 12% to $2.72

Announces FY20 Non-GAAP Diluted EPS Guidance of $5.45 to $5.65

Increases Quarterly Dividend 11% to $0.50 per Share

 

MINNEAPOLIS, February 27, 2019 — Best Buy Co., Inc. (NYSE: BBY) today announced results for the 13-week fourth quarter ended February 2, 2019 (“Q4 FY19”), as compared to the 14-week fourth quarter ended February 3, 2018 (“Q4 FY18”).

The company estimates the extra week in Q4 FY18 added approximately $760 million in revenue and approximately $0.20 in non-GAAP diluted EPS for the quarter and the year.

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20 Nov: Best Buy Reports Better-than-Expected Q3 FY19 Results

Enterprise Comparable Sales Increased 4.3%

GAAP Diluted EPS Increased 27% to $0.99

Non-GAAP Diluted EPS Increased 19% to $0.93

Closes acquisition of GreatCall

Raises FY19 Financial Guidance

 

MINNEAPOLIS, November 20, 2018 — Best Buy Co., Inc. (NYSE: BBY) today announced results for the third quarter ended November 3, 2018 (“Q3 FY19”), as compared to the third quarter ended October 28, 2017 (“Q3 FY18”).

(Click here for a PDF version. Click here to view full release and statements.)

  Q3 FY19 Q3 FY18
Revenue ($ in millions):    
Enterprise $9,590 $9,320
Domestic segment $8,756 $8,491
International segment $834 $829
Enterprise comparable sales % change 4.3% 4.4%
Domestic comparable sales % change 4.3% 4.5%
Domestic comparable online sales % change 12.6% 22.3%
International comparable sales % change 3.7% 3.8%
Operating Income:    
GAAP operating income as a % of revenue 3.4% 3.8%
Non-GAAP operating income as a % of revenue 3.5% 3.7%
Diluted Earnings per Share (“EPS”):    
GAAP diluted EPS $0.99 $0.78
Non-GAAP diluted EPS $0.93 $0.78

 

For GAAP to non-GAAP reconciliations, please refer to the attached supporting schedule titled Reconciliation of Non-GAAP Financial Measures.