---
schema_version: "secwatch.filing_event.v1"
accession: "0000764478-23-000019"
form_type: "8-K"
ticker: "BBY"
cik: "0000764478"
company_name: "BEST BUY CO INC"
filed_at: "2023-05-25T23:59:59+00:00"
generated_at: "2026-06-14T15:12:41.728579+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000764478-23-000019
- form_type: 8-K
- ticker: BBY
- cik: 0000764478
- company_name: BEST BUY CO INC
- filed_at: 2023-05-25T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/764478/000076447823000019/0000764478-23-000019-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/764478/000076447823000019/bby-20230525x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000764478-23-000019
- JSON: https://secwatch.observer/filing/0000764478-23-000019.json
- Plain text: https://secwatch.observer/filing/0000764478-23-000019.txt

## Key facts
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/764478/000076447823000019/0000764478-23-000019-index.htm

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