Here’s a closer look at the new products, all available to pre-order now on BestBuy.com: 

• MacBook Neo: MacBook Neo features the A18 Pro chip, a 13-inch Liquid Retina display, and a Multi-touch trackpad. MacBook Neo runs macOS and includes support for Apple Intelligence. It comes in four colors, including Blush, Indigo, Silver, and a fresh new Citrus. 

• iPhone 17e: iPhone 17e offers customers a beautiful display, the fast A19 chip, more starting storage, MagSafe charging, and a new pink finish. 

• iPad Air: iPad Air features the M4 chip, delivering faster performance, increased memory and enhanced connectivity. 

Special Apple experience  

To celebrate the reveal of the new MacBook Neo, we partnered with lifestyle influencer Ilana Wiles to bring customers along for the experience in real time.  

Ilana — known as @IlanaWiles to her many followers across TikTok and Instagram — shared a firsthand look at MacBook Neo and her take on the features she’s most excited about.   

Check out highlights from her day:

Discover more Apple products and accessories at BestBuy.com. 

We have been credited as a leader by CDP for our efforts addressing climate change and advancing of our environmental goals. This year’s recognition is based on our actions to cut emissions, mitigate climate risks and drive low-carbon initiatives. 

How we made the Climate A List 

Each year, CDP assesses companies worldwide on transparency, risk management and environmental leadership. Out of nearly 20,000 companies scored in 2025, Best Buy earned an “A” rating for our comprehensive disclosure and commitment to best practices, including setting ambitious, science-based goals. 

Here are a few examples of our environmental work: 

• We set a goal to reduce carbon emissions by 75% by 2030 (over a 2009 baseline) and to become carbon neutral by 2040. In FY25, we achieved a carbon emission reduction of 74%. 

• After exceeding our water reduction goal of 15% in FY24, we’ve continued to build on this momentum and reduced our water consumption across our enterprise by nearly 21% since 2019. 

• In FY25, we helped our customers recycle over 144 million pounds of old tech and appliances, supporting the circular economy by keeping tech out of the landfills and giving it a second life. 

• We set a goal to certify all of our supply chain facilities for TRUE zero waste, and in FY25 we were more than halfway to achieving it, with 20 facilities diverting more than 90% of its waste from landfills. 

Learn more about Best Buy’s sustainability efforts in our FY25 Corporate Responsibility & Sustainability Report.  

Here’s the full list of companies that made this year’s CDP A List.

Diluted EPS of $2.56

Adjusted Diluted EPS of $2.61

Increasing Quarterly Dividend 1% to $0.96 per Share

Expects FY27 Adjusted Diluted EPS of $6.30 to $6.60

MINNEAPOLIS, March 3, 2026 — Best Buy Co., Inc. (NYSE: BBY) today announced results for the 13-week fourth quarter ended January 31, 2026 (“Q4 FY26”), as compared to the 13-week fourth quarter ended February 1, 2025 (“Q4 FY25”).

Click here to view full release and statements.

For GAAP to non-GAAP reconciliations of the consolidated adjusted measures used throughout this release, please refer to the attached supporting schedule.

“We are pleased to report better-than-expected profitability for the fourth quarter,” said Corie Barry, Best Buy CEO. “Our comparable sales, while within our guidance range, declined 0.8% compared to last year. Our data sources show our overall market share was at least flat, pointing to slightly softer customer demand for our industry during the holiday quarter.”

“For the year, we returned to positive comparable sales and expanded our operating income rate,” continued Barry. “We also launched and scaled our U.S. digital Marketplace, drastically increasing our available product count for our customers, and grew Best Buy Ads, almost doubling the number of ad partners compared to the prior year. I’m incredibly grateful for the hard work, dedication and resourcefulness of more than 80,000 employees to achieve these results.”     

FY27 Financial Guidance

“Moving forward to FY27, we are excited about the momentum in our business,” said Matt Bilunas, Best Buy CFO. “We also expect to continue to navigate a mixed macro environment.”

The company’s FY27 financial guidance is as follows:

• Revenue of $41.2 billion to $42.1 billion
• Comparable sales % change¹ of (1.0%) to 1.0%
• Adjusted operating income rate² of 4.3% to 4.4%
• Adjusted effective income tax rate² of approximately 25.5%
• Adjusted diluted EPS² of $6.30 to $6.60
• Capital expenditures of approximately $750 million

Bilunas continued, “For the first quarter, we expect comparable sales growth of approximately 1% and an adjusted operating income rate of approximately 3.9%.”

Domestic Segment Q4 FY26 Results

Domestic Revenue

Domestic revenue of $12.58 billion decreased 1.1% versus last year primarily driven by a comparable sales decline of 0.8%.

From a merchandising perspective, the largest drivers of the comparable sales decrease on a weighted basis were home theater and appliances. These drivers were partially offset by growth in computing and mobile phones.

Domestic online revenue of $4.91 billion decreased 2.3% on a comparable basis, and as a percentage of total Domestic revenue, online revenue was 39.0% versus 39.5% last year.

Domestic Gross Profit Rate

Domestic gross profit rate of 20.9% was approximately flat to last year. The company’s gross profit rate included growth in Best Buy Ads and Marketplace, which was largely offset by lower product margin rates.

Domestic Adjusted Selling, General and Administrative Expenses (“SG&A”) 

Domestic adjusted SG&A expenses were $2.00 billion, or 15.9% of revenue, versus $2.03 billion, or 16.0% of revenue, last year. Adjusted SG&A decreased due to lower compensation expense, including incentive compensation, and lower Best Buy Health expense. This was partially offset by increased expenses related to the company’s Marketplace and Best Buy Ads initiatives.

International Segment Q4 FY26 Results  

International Revenue

International revenue of $1.24 billion increased 0.5% versus last year. The revenue increase was primarily driven by the favorable impact of foreign exchange rates, which was partially offset by a comparable sales decline of 1.3%.

International Gross Profit Rate

International gross profit rate was 20.5% versus 21.4% last year. The lower gross profit rate was primarily due to lower product margin rates.

International Adjusted SG&A

International adjusted SG&A expenses were $189 million, or 15.3% of revenue, versus $194 million, or 15.7% of revenue, last year. The lower adjusted SG&A was primarily driven by lower compensation expense, including incentive compensation, which was partially offset by the negative impact of foreign exchange rates.

Income Taxes

The Q4 FY26 effective tax rate was 25.6% versus 47.2% last year. The lower effective tax rate was primarily due to lapping the nondeductible Best Buy Health goodwill impairment incurred last year. The adjusted effective tax rate was 22.3% versus 21.0% last year.

Share Repurchases and Dividends

In Q4 FY26, the company returned a total of $272 million to shareholders through dividends of $199 million and share repurchases of $73 million. In FY26, the company returned a total of $1.07 billion to shareholders through dividends of $801 million and share repurchases of $273 million. The company expects to spend approximately $300 million on share repurchases during FY27.

Today, the company announced its board of directors approved a 1% increase in the regular quarterly cash dividend to $0.96 per common share. The regular quarterly dividend is payable on April 14, 2026, to shareholders of record as of the close of business on March 24, 2026.

Conference Call

Best Buy is scheduled to conduct an earnings conference call at 8:00 a.m. Eastern Time (7:00 a.m. Central Time) on March 3, 2026. A webcast of the call is expected to be available at www.shopmall.bestbuyinvestor.us, both live and after the call.

Notes:

(1) The method of calculating comparable sales varies across the retail industry. As a result, our method of calculating comparable sales may not be the same as other retailers’ methods. For additional information on comparable sales, please see our most recent Annual Report on Form 10-K, and our subsequent Quarterly Reports on Form 10-Q, filed with the Securities and Exchange Commission (“SEC”), and available at www.shopmall.bestbuyinvestor.us.

(2) A reconciliation of the projected adjusted operating income rate, adjusted effective income tax rate, and adjusted diluted EPS, which are forward-looking non-GAAP financial measures, to the most directly comparable GAAP financial measures, is not provided because the company is unable to provide such reconciliation without unreasonable effort. The inability to provide a reconciliation is due to the uncertainty and inherent difficulty predicting the occurrence, the financial impact and the periods in which the non-GAAP adjustments may be recognized. These GAAP measures may include the impact of such items as restructuring charges; price-fixing settlements; goodwill and acquired intangible asset impairments; certain long-lived asset impairments; gains and losses on disposals of subsidiaries and certain investments; amortization of definite-lived intangible assets associated with acquisitions; certain acquisition-related costs; and the tax effect of all such items. Historically, the company has excluded these items from non-GAAP financial measures. The company currently expects to continue to exclude these items in future disclosures of non-GAAP financial measures and may also exclude other items that may arise (collectively, “non-GAAP adjustments”). The decisions and events that typically lead to the recognition of non-GAAP adjustments, such as a decision to exit part of the business or reaching settlement of a legal dispute, are inherently unpredictable as to if or when they may occur. For the same reasons, the company is unable to address the probable significance of the unavailable information, which could be material to future results.

Forward-Looking and Cautionary Statements:

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 as contained in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. You can identify these statements by the fact that they use words such as “anticipate,” “appear,” “approximate,” “assume,” “believe,” “continue,” “could,” “estimate,” “expect,” “foresee,” “guidance,” “intend,” “may,” “might,” “outlook,” “plan,” “possible,” “project” “seek,” “should,” “would,” and other words and terms of similar meaning or the negatives thereof. Such statements reflect our current views and estimates with respect to future market conditions, company performance and financial results, operational investments, business prospects, our operating model, new strategies and growth initiatives, the competitive environment, consumer behavior and other events. These statements involve a number of judgments and are subject to certain risks and uncertainties, many of which are outside the control of the Company, that could cause actual results to differ materially from the potential results discussed in such forward-looking statements. Readers should review Item 1A, Risk Factors, of our most recent Annual Report on Form 10-K, and any updated information in subsequent Quarterly Reports on Form 10-Q, for a description of important factors that could cause our actual results to differ materially from those contemplated by the forward-looking statements made in this release. Among the factors that could cause actual results and outcomes to differ materially from those contained in such forward-looking statements are the following: macroeconomic pressures in the markets in which we operate (including but not limited to real GDP growth, inflation, recession, consumer confidence, employment levels, effects of the government closures, cost of living, uncertainty over the availability of government benefits, tax rates, availability of consumer financing, interest rates, housing market conditions, foreign currency exchange rates, the price of oil, gas and other commodities and other macroeconomic trends); geopolitical pressures (including issues related to trade routes, political instability and divisiveness, the potential implementation of more restrictive trade policies, tariff increases and/or volatility, the realignment of alliances or the renegotiation of existing trade agreements); catastrophic events, health crises and pandemics; susceptibility of the products we sell to technological advancements, product life cycle fluctuations and changes in consumer preferences; competition (including from multi-channel retailers, e-commerce business, technology service providers, traditional store-based retailers, vendors and mobile network carriers, in the provision of delivery speed and options and with the strategic use of artificial intelligence); our ability to attract and retain qualified employees and changes in market compensation rates; our focus on services as a strategic priority; our reliance on key vendors and mobile network carriers (including product availability); our ability to maintain positive brand perception and recognition; our ability to effectively identify, manage and execute enterprise-wide strategies, such as strategic ventures, alliances or acquisitions; our ability to effectively manage our infrastructure, real estate portfolio and market segmentation strategy; interruptions and other factors affecting our supply chain (impacting our stores or other aspects of our operations); our utilization of third-party vendors for certain aspects of our operations; risks associated with the products we sell, including those products sold on our Marketplace platforms and products under our exclusive brand labels; our reliance on our information technology systems, internet and telecommunications access and capabilities; our ability to prevent or effectively respond to a cyber-attack, privacy or security breach; statutory, regulatory and legal developments (including statutes and/or regulations related to tax or privacy); evolving corporate governance and public disclosure regulations and expectations (including, but not limited to, cybersecurity and corporate responsibility and sustainability matters); risks arising from our international activities (including fluctuations in foreign currency exchange rates); failure to meet any financial performance guidance or other forward-looking statements; failure to effectively manage our costs; our dependence on cash flows and net earnings generated during the fourth fiscal quarter; economic or regulatory developments that might affect our ability to provide attractive promotional financing; constraints in the banking and capital markets; and changes in our credit ratings. We caution that the foregoing list of important factors is not complete. Any forward-looking statements speak only as of the date they are made and we assume no obligation to update any forward-looking statement that we may make.

Card drops to shop 

In celebration of the event, select Best Buy stores will carry the latest trading card packs from Pokémon, including an exclusive Pokémon Day collection. Take a look at the card packs available to purchase in select stores during the event: 

• Pokémon Trading Card Game: Pokémon Day 2026 Collection 
• Pokémon Trading Card Game: Paradox Clash Tin 
• Pokémon Trading Card Game: Scarlet & Violet Destined Rivals 6Pk Booster Bundle 
• Pokémon Trading Card Game: Scarlet & Violet Surging Sparks 6 Pk Booster Bundle 

In-store experience  

Feeling confident you’re a Pokémon master? Join us in-store at select locations on Feb. 28 from noon to 2 p.m. local time for our Trade & Play event. Activities will include: 

• Hands-on gameplay: Demo the latest from Pokémon titles, like Pokémon Legends: Z-A on Nintendo Switch 2. 
• Trading card fun: Level up your card collection by trading cards with other fans. Plus, if you’re just getting into Pokémon cards, we’ll have event leaders who can share tips on how to play. 
• Epic giveaways:  To celebrate 30 years, we’re giving away 3-card fun packs, Bandai Pikachu Model Kits, visors, and stickers (while supplies last). 

Plus, Pokémon Trainers can explore our expanded Pokémon display at participating stores. Check out displays featuring favorite characters, like Pikachu and Charizard, that capture the magic of Pokémon.  

Check out our Pokémon page here to find a Trade & Play event at a store near you. 

Visit BestBuy.com to shop for all things Pokémon trading cards, figurines and collectibles  

This season, we’re returning as the Official Retail Technology partner of TGL, partnering with trick-shot legends Dude Perfect, hosting a new, life-size hologram experience for fans inside SoFi Center, and more. Plus, Gram, our spokeshologram, is back and gives new meaning to how you can bring golf to life inside your home.  

Check out these innovative experiences that fans can expect this TGL season.  

Best Buy and Dude Perfect partner for TGL Season 2  

New this year, we’re partnering with Dude Perfect to help sports fans level-up their tech and experience TGL like never before. Throughout the season, Dude Perfect will be creating a series of YouTube Shorts showcasing what happens when TGL and cutting-edge tech collide with trick shots and some friendly competition. The first video drops Dec. 31 on the Dude Perfect YouTube channel. 

Dude Perfect—founded in 2009 by five college friends and now a global phenomenon—has the largest sports account on YouTube with more than 60 million subscribers.  

Roger Steele, Best Buy team up for ultimate TGL experience 

We’re also teaming up with well-known golf advocate and TGL emcee, Roger Steele, to bring fans closer to the action like never before—from the more than 6,700 inches of TVs from Best Buy in the SoFi Center to the Digital Caddie, sponsored by Best Buy, that allows TGL teams to preview and strategize each hole, and more.  

Check out the following video—and see all his Best Buy and TGL videos on his Instagram. 

This season, we’re hosting a pro fan experience that brings the latest hologram technology right to SoFi Center. Fans inside the arena can step into the future of fandom and take their photo with life-size holograms of their favorite pro golfers or one of the dudes from Dude Perfect.  

New Ad Spots Featuring Gram  

Our spokeshologram Gram is stepping back up to the tee for Season 2. He’s playing a whole new course, this time putting a Rube Goldberg machine through its paces—one perfectly timed bounce at a time—to show how Best Buy helps fans drive, chip, and putt their way to an elevated home tech setup for the TGL season. 

Here’s a look at the latest ad spot sports fans can see on ESPN and TGL’s digital channels throughout the season: 

More TGL at Best Buy 

For an even deeper look at TGL, check out our TGL page on BestBuy.com, which is filled with videos showing a behind-the-scenes look at the tech and how it’s being incorporated into the league. Plus, we have a growing assortment of golf tech to explore. With products like rangefinders, golf simulators, GPS devices, and more, we have everything you need to take your golf game to the next level.  

Head to BestBuy.com for more on golf tech and our partnership with TGL. 

Ways to save until the final hour

Whether you’re grabbing one last stocking stuffer or tackling your entire list of show-stopping gadgets, there are still plenty of ways to save on last-minute gifts. Check out these offers while you wrap up your shopping:

• Apple Sales Event¹: Now through Dec. 11, you can score incredible deals on Apple tech — including Mac computers, iPad, AirPods, Apple Watch, iPhone and more. Offers available now:
  • Save up to $120 on select AirPods
  • Select iPad models as low as $279
  • Select Mac computers as low as $479

• 3-Day Sale²: Starting Friday, Dec. 12, through the weekend, save up to 50% on the latest holiday gifts, including TVs, laptops, video games, small appliances and more.  

• Last-Minute Savings Event³: Mark your calendar for Dec. 15 and grab great deals on this holiday’s must-have tech, from headphones and tablets to video games and toys.

• Doorbusters every Friday⁴: Our doorbusters keep rolling out every Friday, with some of the best deals on this season’s hottest tech. My Best Buy Plus and My Best Buy Total members can also earn up to $25 in bonus rewards on select doorbuster events this holiday season.

• Trade-in savings: Now is the perfect time to trade in used tech — like phones, tablets, watches and more — and get a Best Buy e-Gift Card to use toward your holiday gifts. Right now, you can save up to $400 on select PlayStation 5 consoles with qualifying trade-in⁵.

Gifts for every budget

This holiday season, we have gifts for everyone on your list — and at every price point. From affordable finds to premium picks, here’s a look at this year’s lineup:

• Trading cards from $5.99
• Headphones under $10
• Hundreds of toys under $30
• Windows laptops from $149.99
• Gaming desktops starting at $769.99
• Electric scooters from $69.99
• TVs starting at $59.99
• OLED TVs from $899.99
• XXL TVs (98 inches and up) starting at $999.99

Plus, our new Best Buy Marketplace offers even more products, brands and categories at a variety price points — all in one shopping experience.

Right-on-time gifts

Putting a bow on your holiday shopping? We have all the ways to get your tech on your schedule during the busiest time of the year — from curbside and locker pickup to same-day and next-day delivery. Here are the deadlines to keep your gifts right on schedule:

• Order by 12:30 p.m. CT on Dec. 23 for free next-day delivery on select gifts⁶.
• Order by 12 p.m. local time on Dec. 24 for same-day delivery on select gifts⁷.
• Order by 5 p.m. local time on Dec. 24 and pick it up in-store or curbside until 7 p.m. that day⁸.
• Shop in our stores until 7 p.m. local time on Dec. 24⁹.

Need a truly last-minute gift on Dec. 25? Visit the Best Buy App or BestBuy.com to grab an e-Gift Card.

Last-minute inspiration

Start online by visiting the Holiday Gift Ideas page for curated picks, explore our Deals Worth Gifting hub, watch the latest YouTube inspiration videos or see what our creators are recommending.

Or stop by a store and experience it all in person. Discover your style in Meta AI Glasses, find the perfect fit for the Oura Ring and feel the power-packed sound of the JBL Party Box Speaker. Our Blue Shirts are ready to help you explore, demo and bring gift ideas to life — no matter who you’re gifting.

_Disclaimers

_{¹ Event ends 12/11/25 at 11:59 p.m. CT. Limited quantities. No rainchecks. Offers subject to change. Prices valid during, but may start before and end after, the event.
² Event ends 12/14/25 at 11:59 p.m. CT. Doorbusters end 12/14/25 at 11:59 p.m. CT. Limited quantities. No rainchecks. Offers subject to change. Prices valid during, but may start before and end after, the event.
³Limited time offer. Limited quantities. No rainchecks. Offers subject to change. Prices valid during, but may start before and end after, the event.
⁴ Terms and conditions apply. Offer subject to change. See BestBuy.com for full details.
⁵ Terms and conditions apply. See BestBuy.com for full details.
⁶ See BestBuy.com/Shipping for details.
⁷ See BestBuy.com/SameDayDelivery for details.
⁸ See BestBuy.com/StorePickup for details.
⁹ May vary depending on local regulations. See your local store page for exact hours of operation.}

Jadeja has served as the chief executive officer of Riot Games since July 2023 and has been a member of its executive team for more than a decade. Riot Games, a prominent video game developer and publisher, was founded in 2006 with the goal to create and support the most player-focused games in the world. One of the company’s most well-known titles, “League of Legends,” is a prime example of that mission.

Jadeja brings to Best Buy’s Board of Directors extensive knowledge and experience across strategy, finance, operations, digital and social content and, of course, the gaming industry. Prior to becoming CEO, Jadeja served in several leadership roles for Riot Games; he joined the company as its chief financial officer in 2011 and later served as its president. Before joining Riot Games, Jadeja was a leader within the Consumer Retail Coverage team at Goldman Sachs. 

“Dylan’s expertise in consumer brands, digital commerce and serving passionate global player communities will bring critical enhancements to our Board. I’m excited to welcome him to our company,” says Corie Barry, chief executive officer at Best Buy. “I look forward to Dylan’s insights and guidance as we focus deeper on creating seamless omnichannel experiences for our customers and developing new streams of revenue to help fuel our growth.”

“I’m honored to have the opportunity to join such a trusted, mission-driven brand that has connected deeply with consumers for nearly 60 years,” says Jadeja. “Best Buy’s evolution into a company that brings new technology to life – in stores, online, and in-home – is incredibly compelling, and I look forward to contributing to the team on that journey.”

Comparable Sales Increased 2.7%

Diluted EPS of $0.66

Adjusted Diluted EPS of $1.40

Raises FY26 Adjusted Diluted EPS Guidance to $6.25 to $6.35

MINNEAPOLIS, November 25, 2025 – Best Buy Co., Inc. (NYSE: BBY) today announced results for the 13-week third quarter ended November 1, 2025 (“Q3 FY26”), as compared to the 13-week third quarter ended November 2, 2024 (“Q3 FY25”).

Click here to view full release and statements.

For GAAP to non-GAAP reconciliations of the consolidated adjusted measures used throughout this release, please refer to the attached supporting schedule.

“We are pleased to report better-than-expected sales and adjusted operating income rate for the third quarter,” said Corie Barry, Best Buy CEO. “Our comparable sales grew 2.7% as we continued to drive strong results across computing, gaming and mobile phones. We delivered sales growth across both online and stores, saw continued improvements in customer experience ratings and launched our Best Buy Marketplace.”

“We are flexing the unique strength of our model as customers need to upgrade or replace their consumer electronics and new products and innovation are coming to market,” continued Barry. “I want to thank our employees for their dedication to providing great customer experiences and their strong execution in delivering our Q3 results, setting us up well for an exciting holiday season.”     

FY26 Financial Guidance

“Today we are raising our full year forecast to reflect the strong Q3 results and our current outlook for Q4,” said Matt Bilunas, Best Buy CFO. “In Q4, we expect comparable sales growth in the range of (1.0%) to 1.0% and adjusted operating income rate in the range of 4.8% to 4.9%.”

The company’s FY26 financial guidance is as follows:

• Revenue of $41.65 billion to $41.95 billion, which compares to prior guidance of $41.1 billion to $41.9 billion
• Comparable sales¹ of 0.5% to 1.2%, which compares to prior guidance of (1.0%) to 1.0%
• Adjusted operating income rate² of approximately 4.2%, which is unchanged
• Adjusted effective income tax rate² of approximately 25.4%, which compares to prior guidance of approximately 25.0%
• Adjusted diluted EPS² of $6.25 to $6.35, which compares to prior guidance of $6.15 to $6.30
• Capital expenditures of approximately $700 million, which is unchanged

Domestic Segment Q3 FY26 Results

Domestic Revenue

Domestic revenue of $8.88 billion increased 2.1% versus last year primarily driven by comparable sales growth of 2.4%.

From a merchandising perspective, the largest drivers of the comparable sales increase on a weighted basis were computing, gaming and mobile phones. These drivers were partially offset by declines in home theater and appliances.

Domestic online revenue of $2.82 billion increased 3.5% on a comparable basis, and as a percentage of total Domestic revenue, online revenue was 31.8% versus 31.4% last year.

Domestic Gross Profit Rate

Domestic gross profit rate was 23.3% versus 23.6% last year. The lower gross profit rate was primarily due to lower product margin rates, which were partially offset by rate improvement within the services category.

Domestic Adjusted Selling, General and Administrative Expenses (“SG&A”) 

Domestic adjusted SG&A expenses were $1.71 billion, or 19.2% of revenue, versus $1.71 billion, or 19.7% of revenue, last year. Adjusted SG&A expenses included lower Best Buy Health expense, which was largely offset by higher incentive compensation expense.

International Segment Q3 FY26 Results  

International Revenue

International revenue of $794 million increased 6.1% versus last year primarily driven by comparable sales growth of 6.3% and revenue from Best Buy Express locations excluded from comparable sales, which were partially offset by the negative impact of foreign exchange rates.

International Gross Profit Rate

International gross profit rate was 22.8% versus 22.5% last year. The higher gross profit rate was primarily due to favorable supply chain costs.

International Adjusted SG&A

International adjusted SG&A expenses were $153 million, or 19.3% of revenue, versus $155 million, or 20.7% of revenue, last year. 

Best Buy Health Impairments

During Q3 FY26, the company recorded pre-tax non-cash asset impairments of $192 million related to Best Buy Health, comprised of $171 million of goodwill and intangible asset impairments and $21 million of long-lived asset impairments. A change in Best Buy Health’s customer base during the quarter resulted in an impairment review of all Best Buy Health assets. The impairments reflect downward revisions in the company’s longer-term projections in part due to pressures in the Medicaid and Medicare Advantage markets.

Income Taxes

The Q3 FY26 effective tax rate was 31.5% versus 23.9% last year. The higher effective tax rate was primarily due to the nondeductible Best Buy Health goodwill impairment. The adjusted effective tax rate was 24.6% versus 23.8% last year.

Share Repurchases and Dividends

In Q3 FY26, the company returned a total of $234 million to shareholders through dividends of $199 million and share repurchases of $35 million. On a year-to-date basis, the company has returned a total of $802 million to shareholders through dividends of $602 million and share repurchases of $200 million. The company still expects to spend approximately $300 million on share repurchases during FY26.

Today, the company announced its board of directors has authorized the payment of a regular quarterly cash dividend of $0.95 per common share. The quarterly dividend is payable on January 6, 2026, to shareholders of record as of the close of business on December 16, 2025.

Conference Call

Best Buy is scheduled to conduct an earnings conference call at 8:00 a.m. Eastern Time (7:00 a.m. Central Time) on November 25, 2025. A webcast of the call is expected to be available at www.shopmall.bestbuyinvestor.us, both live and after the call.

Notes:

(1) The method of calculating comparable sales varies across the retail industry. As a result, our method of calculating comparable sales may not be the same as other retailers’ methods. For additional information on comparable sales, please see our most recent Annual Report on Form 10-K, and our subsequent Quarterly Reports on Form 10-Q, filed with the Securities and Exchange Commission (“SEC”), and available at www.shopmall.bestbuyinvestor.us.

(2) A reconciliation of the projected adjusted operating income rate, adjusted effective income tax rate, and adjusted diluted EPS, which are forward-looking non-GAAP financial measures, to the most directly comparable GAAP financial measures, is not provided because the company is unable to provide such reconciliation without unreasonable effort. The inability to provide a reconciliation is due to the uncertainty and inherent difficulty predicting the occurrence, the financial impact and the periods in which the non-GAAP adjustments may be recognized. These GAAP measures may include the impact of such items as restructuring charges; price-fixing settlements; goodwill and acquired intangible asset impairments; certain long-lived asset impairments; gains and losses on disposals of subsidiaries and certain investments; amortization of definite-lived intangible assets associated with acquisitions; certain acquisition-related costs; and the tax effect of all such items. Historically, the company has excluded these items from non-GAAP financial measures. The company currently expects to continue to exclude these items in future disclosures of non-GAAP financial measures and may also exclude other items that may arise (collectively, “non-GAAP adjustments”). The decisions and events that typically lead to the recognition of non-GAAP adjustments, such as a decision to exit part of the business or reaching settlement of a legal dispute, are inherently unpredictable as to if or when they may occur. For the same reasons, the company is unable to address the probable significance of the unavailable information, which could be material to future results.

Forward-Looking and Cautionary Statements:

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 as contained in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. You can identify these statements by the fact that they use words such as “anticipate,” “appear,” “approximate,” “assume,” “believe,” “continue,” “could,” “estimate,” “expect,” “foresee,” “guidance,” “intend,” “may,” “might,” “outlook,” “plan,” “possible,” “project” “seek,” “should,” “would,” and other words and terms of similar meaning or the negatives thereof. Such statements reflect our current views and estimates with respect to future market conditions, company performance and financial results, operational investments, business prospects, our operating model, new strategies and growth initiatives, the competitive environment, consumer behavior and other events. These statements involve a number of judgments and are subject to certain risks and uncertainties, many of which are outside the control of the Company, that could cause actual results to differ materially from the potential results discussed in such forward-looking statements. Readers should review Item 1A, Risk Factors, of our most recent Annual Report on Form 10-K, and any updated information in subsequent Quarterly Reports on Form 10-Q, for a description of important factors that could cause our actual results to differ materially from those contemplated by the forward-looking statements made in this release. Among the factors that could cause actual results and outcomes to differ materially from those contained in such forward-looking statements are the following: macroeconomic pressures in the markets in which we operate (including but not limited to recession, inflation rates, fluctuations in foreign currency exchange rates, limitations on a government’s ability to borrow and/or spend capital, fluctuations in housing prices, energy markets, jobless rates and effects related to the conflicts in Eastern Europe and the Middle East, tariffs, supply chain or other geopolitical events); catastrophic events, health crises and pandemics; susceptibility of the products we sell to technological advancements, product life cycle fluctuations and changes in consumer preferences; competition (including from multi-channel retailers, e-commerce business, technology service providers, traditional store-based retailers, vendors and mobile network carriers and in the provision of delivery speed and options); our ability to attract and retain qualified employees; changes in market compensation rates; our expansion into health and new products, services and technologies; our focus on services as a strategic priority; our reliance on key vendors and mobile network carriers (including product availability); our ability to maintain positive brand perception and recognition; our ability to effectively manage strategic ventures, alliances or acquisitions; our ability to effectively manage our real estate portfolio; inability of vendors or service providers to perform components of our supply chain (impacting our stores or other aspects of our operations) and other various functions of our business; risks arising from and potentially unique to our exclusive brands products; risks associated with vendors that source products outside the U.S.; our reliance on our information technology systems, internet and telecommunications access and capabilities; our ability to prevent or effectively respond to a cyber-attack, privacy or security breach; product safety and quality concerns; changes to labor or employment laws or regulations; risks arising from statutory, regulatory and legal developments (including statutes and/or regulations related to tax or privacy); evolving corporate governance and public disclosure regulations and expectations (including, but not limited to, cybersecurity and environmental, social and governance matters); risks arising from our international activities (including fluctuations in foreign currency exchange rates) and those of our vendors; failure to effectively manage our costs; our dependence on cash flows and net earnings generated during the fourth fiscal quarter; pricing investments and promotional activity; economic or regulatory developments that might affect our ability to provide attractive promotional financing; constraints in the capital markets; changes to our vendor credit terms; changes in our credit ratings; and failure to meet financial-performance guidance or other forward-looking statements. We caution that the foregoing list of important factors is not complete. Any forward-looking statements speak only as of the date they are made and we assume no obligation to update any forward-looking statement that we may make.