Company: BBY
Filing Date: 2025-09-05
Form Type: 10-Q
Source: 0000764478-25-000040
Chunk: 114

Company: BEST BUY CO INC
Filing Date: 2025-09-05
Form: 10-Q
Item: Part I, Item 2
Chunk 114
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 Our quarterly tax provision and our quarterly estimate of our annual ETR are subject to variation due to several factors, including our ability to accurately forecast our pre-tax and taxable income and loss by jurisdiction, tax audit developments, recognition of excess tax benefits or deficiencies related to stock-based compensation, foreign currency gains (losses), changes in laws or regulations, and expenses or losses for which tax benefits are not recognized. Our ETR can be more or less volatile based on the amount of pre-tax earnings. For example, the impact of discrete items and non-deductible losses on our ETR is greater when our pre-tax earnings are lower.

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Table of Contents

Segment Performance Summary

Domestic Segment

Selected financial data for the Domestic segment was as follows ($ in millions):

Three Months EndedSix Months EndedAugust 2, 2025August 3, 2024August 2, 2025August 3, 2024Revenue$8,698 $8,623 $16,825 $16,826 Revenue % change0.9 %(3.0)%— %(4.9)%Comparable sales % change(1)1.1 %(2.3)%0.2 %(4.3)%Gross profit$2,033 $2,027 $3,941 $3,944 Gross profit as a % of revenue23.4 %23.5 %23.4 %23.4 %Adjusted SG&A(2)$1,682 $1,663 $3,261 $3,255 Adjusted SG&A as a % of revenue(3)19.3 %19.3 %19.4 %19.3 %Adjusted operating income(2)$351 $364 $680 $689 Adjusted operating income as a % of revenue(4)4.0 %4.2 %4.0 %4.1 %Selected Online Revenue DataTotal online revenue$2,856 $2,718 $5,435 $5,243 Online revenue as a % of total segment revenue32.8 %31.5 %32.3 %31.2 %Comparable online sales % change(1)5.1 %(1.6)%3.7 %(3.8)%

(1)Comparable online sales are included in the comparable sales calculation.

(2)Represents Domestic