Best Buy Q1 comparable sales down 10.1%; GAAP EPS $1.11 vs $1.49 YoY

BEST BUY CO INC

2024-Q1 EPS reported $1.11 revenue$9,467,000,000

Revenue $9.47B down 11% YoY; domestic comp sales -10.4%, international -5.5%.
GAAP diluted EPS $1.11; non-GAAP diluted EPS $1.15; operating margin 3.3%.
FY24 guidance maintained: revenue $43.8-45.2B, comp sales decline 3-6%, non-GAAP EPS $5.70-6.50.
Q2 comp sales expected -6% to -8%; non-GAAP operating income rate ~3%.
Declared $0.92 quarterly dividend payable July 6, 2023; repurchased $79M in shares during Q1.

item 2.02 item 9.01

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

BEST BUY CO INC updated its 13-week first quarter ended April 29, 2023 guidance (reaffirmed).

Period: 13-week first quarter ended April 29, 2023
Guidance: reaffirmed
Result: reported results

Exact text from the filing

On May 25, 2023, Best Buy Co., Inc. (“Best Buy” or the “registrant”) issued a news release announcing its results of operations for the first quarter ended April 29, 2023.

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Source: SEC EDGAR

accession 0000764478-23-000019

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