---
schema_version: "secwatch.filing_event.v1"
accession: "0000764478-22-000030"
form_type: "8-K"
ticker: "BBY"
cik: "0000764478"
company_name: "BEST BUY CO INC"
filed_at: "2022-07-27T23:59:59+00:00"
generated_at: "2026-06-24T08:24:20.598337+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Best Buy cuts FY2023 guidance; Q2 comp sales expected down ~13% vs prior 3-6% decline

## Summary
- Q2 FY23 comparable sales expected to decline ~13%; revenue ~7.5% above pre-pandemic Q2 FY20.
- Q2 non-GAAP operating income rate expected around 3.7%.
- FY23 comparable sales guidance cut to ~11% decline from prior 3-6% decline.
- FY23 non-GAAP operating income rate guidance cut to ~4% from prior 5.2-5.4%.
- Share repurchases paused; quarterly dividend of $0.88 per share maintained.

## SEC filing metadata
- accession: 0000764478-22-000030
- form_type: 8-K
- ticker: BBY
- cik: 0000764478
- company_name: BEST BUY CO INC
- filed_at: 2022-07-27T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/764478/000076447822000030/0000764478-22-000030-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/764478/000076447822000030/bby-20220727x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000764478-22-000030
- JSON: https://secwatch.observer/filing/0000764478-22-000030.json
- Plain text: https://secwatch.observer/filing/0000764478-22-000030.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.