secwatch.observer — SEC 8-K summary
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Issuer:     BEST BUY CO INC (BBY)
CIK:        0000764478
Form:       8-K
Filed at:   2023-08-29T23:59:59+00:00
Accession:  0000764478-23-000038
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Best Buy Q2: comp sales -6.2%, EPS $1.25; FY24 revenue guidance lowered to $43.8-$44.5B
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- Q2 revenue $9.58B (-7.1% YoY), comparable sales -6.2%; GAAP diluted EPS $1.25, non-GAAP $1.22.
- Domestic revenue $8.89B (-7.1%); online revenue $2.76B (-7.1% comp), flat as % of domestic revenue at 31.0%.
- FY24 revenue guidance narrowed to $43.8-$44.5B (from $43.8-$45.2B); comparable sales decline now 4.5%-6.0%.
- FY24 non-GAAP op margin guidance raised to 3.9%-4.1%; non-GAAP diluted EPS guidance raised to $6.00-$6.40.
- Q3 comparable sales expected slightly better than -6.2%; non-GAAP op margin ~3.4%; dividend $0.92/share declared.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/764478/000076447823000038/0000764478-23-000038-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/764478/000076447823000038/bby-20230829x8k.htm
  HTML page:      https://secwatch.observer/filing/0000764478-23-000038

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