secwatch.observer — SEC 8-K summary
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Issuer:     BEST BUY CO INC (BBY)
CIK:        0000764478
Form:       8-K
Filed at:   2022-08-30T23:59:59+00:00
Accession:  0000764478-22-000033
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Best Buy Q2 comp sales -12.1%, GAAP EPS $1.35; FY23 outlook reaffirmed
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- Revenue $10.33B (-12.8% YoY); comparable sales -12.1% vs +19.6% last year.
- GAAP diluted EPS $1.35, non-GAAP EPS $1.54; operating margin 3.6% GAAP, 4.1% non-GAAP.
- FY23 guidance: comparable sales decline ~11%, non-GAAP op. income rate ~4%.
- Quarterly dividend $0.88/share, payable Oct 11; share repurchases paused in Q2.
- Restructuring initiative started; $34M charge incurred in Q2, more expected in FY23.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/764478/000076447822000033/0000764478-22-000033-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/764478/000076447822000033/bby-20220830x8k.htm
  HTML page:      https://secwatch.observer/filing/0000764478-22-000033

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