Financial results

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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.

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28 Aug: Best Buy Reports Better-than-Expected Q2 FY19 Results

Enterprise Comparable Sales Increased 6.2%

GAAP Diluted EPS Increased 28% to $0.86

Non-GAAP Diluted EPS Increased 32% to $0.91

Raising FY19 Financial Guidance

 

MINNEAPOLIS, August 28, 2018 — Best Buy Co., Inc. (NYSE: BBY) today announced results for the second quarter ended August 4, 2018 (“Q2 FY19”), as compared to the second quarter ended July 29, 2017 (“Q2 FY18”). The company reported Q2 FY19 GAAP diluted earnings per share of $0.86, an increase of 28% from $0.67 in Q2 FY18.