Company: BBY
Filing Date: 2025-09-05
Form Type: 10-Q
Source: 0000764478-25-000040
Chunk: 115

Company: BEST BUY CO INC
Filing Date: 2025-09-05
Form: 10-Q
Item: Part I, Item 2
Chunk 115
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 segment Adjusted SG&A and Domestic segment Adjusted operating income as reported in accordance with the adoption of Accounting Standards Update (“ASU”) 2023-07, Segment Reporting (Topic 280), in the fourth quarter of fiscal 2025. See our Annual Report on Form 10-K for the fiscal year ended February 1, 2025, for additional information.

(3)Adjusted SG&A as a % of revenue is calculated as Domestic segment Adjusted SG&A divided by Domestic segment Revenue.

(4)Adjusted operating income as a % of revenue is calculated as Domestic segment Adjusted operating income divided by Domestic segment Revenue.

Domestic segment revenue increased in the second quarter of fiscal 2026, primarily driven by comparable sales growth in gaming, computing and mobile phones, partially offset by comparable sales declines in home theater, appliances, tablets and drones. Online revenue of $2.9 billion in the second quarter of fiscal 2026 increased 5.1% on a comparable basis.

Domestic segment revenue in the first six months of fiscal 2026 remained effectively unchanged from the first six months of fiscal 2025. Comparable sales growth of 0.2% in the first six months of fiscal 2026 was primarily driven by computing, gaming and mobile phones, mostly offset by comparable sales declines in home theater and appliances. Online revenue of $5.4 billion in the first six months of fiscal 2026 increased 3.7% on a comparable basis.

Domestic segment revenue mix percentages and comparable sales percentage changes by revenue category were as follows:

Revenue MixComparable SalesThree Months EndedThree Months EndedAugust 2, 2025August 3, 2024August 2, 2025August 3, 2024Computing and Mobile Phones45%44%3.8 %3.9 %Consumer Electronics27%29%(4.9)%(6.2)%Appliances12%13%(8.5)%(14.9)%Entertainment8%6%37.5 %(7.4)%Services7%7%(1.0)%8.5 %Other1%1%(6.3)%14.4 %Total100%100%1.1 %(2.3)%

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Notable comparable sales changes by revenue category were as follows:

•Computing and Mobile Phones: The 3.8% comparable sales growth was driven primarily by computing and mobile phones, partially offset by a comparable