{"id":967911,"date":"2026-05-28T07:04:32","date_gmt":"2026-05-28T11:04:32","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/best-buy-reports-first-quarter-results\/"},"modified":"2026-05-28T07:04:32","modified_gmt":"2026-05-28T11:04:32","slug":"best-buy-reports-first-quarter-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/best-buy-reports-first-quarter-results\/","title":{"rendered":"Best Buy Reports First Quarter Results"},"content":{"rendered":"

<\/p>\n

Best Buy Reports First Quarter Results<\/b><\/p>\n

Comparable Sales Increased 2.0%<\/b><\/p>\n

Diluted EPS Increased 38% to $1.31<\/b><\/p>\n

Adjusted Diluted EPS Increased 11% to $1.28<\/b><\/p>\n

Reiterates FY27 Adjusted Diluted EPS Guidance of $6.30 to $6.60<\/b><\/p>\n

MINNEAPOLIS–(BUSINESS WIRE<\/a>)–
\nBest Buy Co., Inc. (NYSE: BBY) today announced results for the 13-week first quarter ended May 2, 2026 (\u201cQ1 FY27\u201d), as compared to the 13-week first quarter ended May 3, 2025 (\u201cQ1 FY26\u201d).<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

\n\u00a0<\/p>\n<\/td>\n

\n

Q1 FY27<\/b><\/p>\n<\/td>\n

\n

Q1 FY26<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

Revenue ($ in millions)<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nEnterprise<\/p>\n<\/td>\n

\n

\n$<\/p>\n<\/td>\n

\n

\n8,936<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$<\/p>\n<\/td>\n

\n

\n8,767<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nDomestic segment<\/p>\n<\/td>\n

\n

\n$<\/p>\n<\/td>\n

\n

\n8,249<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$<\/p>\n<\/td>\n

\n

\n8,127<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nInternational segment<\/p>\n<\/td>\n

\n

\n$<\/p>\n<\/td>\n

\n

\n687<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$<\/p>\n<\/td>\n

\n

\n640<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nEnterprise comparable sales % change1<\/sup><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n2.0<\/p>\n<\/td>\n

\n

\n%<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(0.7<\/p>\n<\/td>\n

\n

\n)%<\/p>\n<\/td>\n<\/tr>\n

\n

\nDomestic comparable sales % change1<\/sup><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n1.8<\/p>\n<\/td>\n

\n

\n%<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(0.7<\/p>\n<\/td>\n

\n

\n)%<\/p>\n<\/td>\n<\/tr>\n

\n

\nDomestic comparable online sales % change1<\/sup><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n1.4<\/p>\n<\/td>\n

\n

\n%<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n2.1<\/p>\n<\/td>\n

\n

\n%<\/p>\n<\/td>\n<\/tr>\n

\n

\nInternational comparable sales % change1<\/sup><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n4.7<\/p>\n<\/td>\n

\n

\n%<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(0.7<\/p>\n<\/td>\n

\n

\n)%<\/p>\n<\/td>\n<\/tr>\n

\n

Operating Income<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nOperating income as a % of revenue<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n4.1<\/p>\n<\/td>\n

\n

\n%<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n2.5<\/p>\n<\/td>\n

\n

\n%<\/p>\n<\/td>\n<\/tr>\n

\n

\nAdjusted operating income as a % of revenue<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n4.1<\/p>\n<\/td>\n

\n

\n%<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n3.8<\/p>\n<\/td>\n

\n

\n%<\/p>\n<\/td>\n<\/tr>\n

\n

Diluted Earnings per Share (“EPS”)<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nDiluted EPS<\/p>\n<\/td>\n

\n

\n$<\/p>\n<\/td>\n

\n

\n1.31<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$<\/p>\n<\/td>\n

\n

\n0.95<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nAdjusted diluted EPS<\/p>\n<\/td>\n

\n

\n$<\/p>\n<\/td>\n

\n

\n1.28<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$<\/p>\n<\/td>\n

\n

\n1.15<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n

\nFor GAAP to non-GAAP reconciliations of the consolidated adjusted measures used throughout this release, please refer to the attached supporting schedule.<\/p>\n

\n\u201cToday we are pleased to report better-than-expected results for the first quarter,\u201d said Corie Barry, Best Buy CEO. \u201cOur comparable sales grew 2% versus last year, higher than our outlook, with positive comps across the majority of our major product categories and strong performance in our Best Buy Ads and Marketplace initiatives. We also drove operating income rate expansion and EPS growth.\u201d<\/p>\n

\nBarry continued, \u201cThanks to our incredibly dedicated employees, we are delivering on our strategy to strengthen our position in retail as a leading omni-channel destination for technology while at the same time scaling new profit streams like Best Buy Ads and Marketplace that we expect to provide considerable benefit over time.\u201d<\/p>\n

\n\u201cWith this momentum, I believe it is the right time to transition the leadership of Best Buy, and step down as CEO later this year,\u201d continued Barry. \u201cWith his unmatched experience and focus on the customer, I know Jason Bonfig is the right person to take Best Buy into its next phase, which is outlined by his four priorities.\u201d<\/p>\n

\n\u201cI look forward to working closely with our teams to build on the progress we are making, specifically focusing on four areas to grow our business: (1) advancing Best Buy as a Retail, Media and Advertising, and Technology company; (2) expanding and growing our reach; (3) elevating the Best Buy experience; and (4) being a human-powered, customer-focused company,\u201d said Jason Bonfig, Best Buy Chief Customer, Product and Fulfillment Officer and incoming CEO (effective November 1, 2026).<\/p>\n

FY27 Financial Guidance<\/span><\/b><\/p>\n

\n\u201cWe are pleased with our first quarter results and are maintaining our guidance for the year,\u201d said Matt Bilunas, Best Buy CFO. \u201cComparable sales have started strong in May, with month-to-date growth up high single digits. Our comparable sales outlook for the full quarter is approximately 1.0% growth as we start to lap last year\u2019s very successful gaming launch in June. We expect our Q2 adjusted operating income rate to be approximately 3.9%, which is flat to last year.\u201d<\/p>\n

\nThe company is reiterating the following full-year FY27 financial guidance provided on March 3, 2026:<\/p>\n