Company: BBY
Filing Date: 2025-12-05
Form Type: 10-Q
Source: 0000764478-25-000057
Chunk: 35

Company: BEST BUY CO INC
Filing Date: 2025-12-05
Form: 10-Q
Item: Part I, Item 1
Chunk 35
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10-K for the fiscal year ended February 1, 2025, for additional information.

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

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

International segment revenue increased in the third quarter of fiscal 2026, primarily driven by comparable sales growth in computing and mobile phones, and revenue from Best Buy Express locations excluded from comparable sales that opened in Canada after the second quarter of fiscal 2025. These increases were partially offset by the negative impact of foreign exchange rates. 

International segment revenue increased in the first nine months of fiscal 2026, primarily driven by comparable sales growth in computing, gaming and mobile phones, and revenue from Best Buy Express locations excluded from comparable sales that opened in Canada after the second quarter of fiscal 2025. These increases were partially offset by the negative impact of foreign exchange rates.

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

Revenue MixComparable SalesThree Months EndedThree Months EndedNovember 1, 2025November 2, 2024November 1, 2025November 2, 2024Computing and Mobile Phones53%52%9.2 %(0.1)%Consumer Electronics25%26%3.6 %(6.1)%Appliances8%9%(4.1)%(8.1)%Entertainment7%6%11.3 %(18.7)%Services6%6%3.9 %4.0 %Other1%1%3.3 %(12.7)%Total100%100%6.3 %(3.7)%

Notable comparable sales changes by revenue category were as follows:

•Computing and Mobile Phones: The 9.2% comparable sales growth was driven primarily by computing and mobile phones.

•Consumer Electronics: The 3.6% comparable sales growth was driven primarily by digital imaging.

•Appliances: The 4.1% comparable sales decline was driven primarily by large appliances.

•Entertainment: The 11.3% comparable sales growth was driven primarily by gaming.

•Services: The 3.9% comparable sales growth was driven primarily by growth in our membership programs.

International segment gross profit rate increased in the third quarter of fiscal 2026, primarily due to favorable supply chain costs