Company: BBY
Filing Date: 2025-12-05
Form Type: 10-Q
Source: 0000764478-25-000057
Chunk: 61

Company: BEST BUY CO INC
Filing Date: 2025-12-05
Form: 10-Q
Item: Part I, Item 8
Chunk 61
---
 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 be comparable to other retailers’ corresponding rates. For additional information regarding costs classified in cost of sales and SG&A, refer to Note 1, Summary of Significant Accounting Policies, of the Notes to Consolidated Financial Statements included in our Annual Report on Form 10-K for the fiscal year ended February 1, 2025.

In the third quarter and first nine months of fiscal 2026, we generated