Comparable Sales Declined 4.8%
GAAP Diluted EPS of $2.12
Non-GAAP Diluted EPS of $2.72
Increasing Quarterly Dividend 2% to $0.94 per Share
Expects FY25 Non-GAAP Diluted EPS of $5.75 to $6.20
MINNEAPOLIS, February 29, 2024 — Best Buy Co., Inc. (NYSE: BBY) today announced results for the 14-week fourth quarter ended February 3, 2024 (“Q4 FY24”), as compared to the 13-week fourth quarter ended January 28, 2023 (“Q4 FY23”).
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Q4 FY24 | Q4 FY23 | FY24 | FY23 | |
(14 weeks) | (13 weeks) | (53 weeks) | (52 weeks) | |
Revenue ($ in millions) | ||||
Enterprise | $14,646 | $14,735 | $43,452 | $46,298 |
Domestic segment | $13,410 | $13,531 | $40,097 | $42,794 |
International segment | $1,236 | $1,204 | $3,355 | $3,504 |
Enterprise comparable sales % change1 | (4.8)% | (9.3)% | (6.8)% | (9.9)% |
Domestic comparable sales % change1 | (5.1)% | (9.6)% | (7.1)% | (10.3)% |
Domestic comparable online sales % change1 | (4.8)% | (13.0)% | (7.8)% | (13.5)% |
International comparable sales % change1 | (1.4)% | (5.7)% | (3.2)% | (5.4)% |
Operating Income | ||||
GAAP operating income as a % of revenue | 3.8% | 4.1% | 3.6% | 3.9% |
Non-GAAP operating income as a % of revenue | 5.0% | 4.8% | 4.1% | 4.4% |
Diluted Earnings per Share (“EPS”) | ||||
GAAP diluted EPS | $2.12 | $2.23 | $5.68 | $6.29 |
Non-GAAP diluted EPS | $2.72 | $2.61 | $6.37 | $7.08 |
For GAAP to non-GAAP reconciliations of the measures referred to in the above table, please refer to the attached supporting schedule.