secwatch.observer — SEC 8-K summary
======================================

Issuer:     BEST BUY CO INC (BBY)
CIK:        0000764478
Form:       8-K
Filed at:   2023-05-25T23:59:59+00:00
Accession:  0000764478-23-000019
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/764478/000076447823000019/0000764478-23-000019-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/764478/000076447823000019/bby-20230525x8k.htm
  HTML page:      https://secwatch.observer/filing/0000764478-23-000019

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer