Company: BBY
Filing Date: 2025-12-05
Form Type: 10-Q
Source: 0000764478-25-000057
Chunk: 94

Company: BEST BUY CO INC
Filing Date: 2025-12-05
Form: 10-Q
Item: Part II, Item 2
Chunk 94
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 into U.S. dollars for reporting purposes. We also may use the term “constant currency,” which represents results adjusted to exclude foreign currency impacts. We calculate those impacts as the difference between the current period results translated using the current period currency exchange rates and using the comparable prior period currency exchange rates. We believe the disclosure of revenue changes in constant currency provides useful supplementary information to investors in light of significant fluctuations in currency rates.

Refer to the Non-GAAP Financial Measures section below for detailed reconciliations of items impacting consolidated adjusted operating income, consolidated adjusted effective tax rate and consolidated adjusted diluted EPS in the presented periods.

19

Results of Operations

Consolidated Results

Selected consolidated financial data was as follows ($ in millions, except per share amounts):

Three Months EndedNine Months EndedNovember 1, 2025November 2, 2024November 1, 2025November 2, 2024Revenue$9,672 $9,445 $27,877 $27,580 Revenue % change2.4 %(3.2)%1.1 %(4.3)%Comparable sales % change2.7 %(2.9)%1.2 %(3.7)%Gross profit$2,248 $2,217 $6,491 $6,467 Gross profit as a % of revenue(1)23.2 %23.5 %23.3 %23.4 %Selling, general and administrative expense ("SG&A")$1,884 $1,871 $5,434 $5,418 SG&A as a % of revenue(1)19.5 %19.8 %19.5 %19.6 %Restructuring charges$(5)$(4)$218 $4 Goodwill and intangible asset impairments$171 $- $171 $- Operating income$198 $350 $668 $1,045 Operating income as a % of revenue2.0 %3.7 %2.4 %3.8 %Net earnings$140 $273 $528 $810 Diluted EPS$0.66 $1.26 $2.48 $3.73 

(1)Because retailers vary in how they record costs of operating their supply chain between cost of sales and SG&A, our gross profit rate and SG&A rate may not