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 % change1,2 | 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.
