Company: BBY
Filing Date: 2025-12-05
Form Type: 10-Q
Source: 0000764478-25-000057
Chunk: 100

Company: BEST BUY CO INC
Filing Date: 2025-12-05
Form: 10-Q
Item: Part II, Item 2
Chunk 100
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 for the International segment was as follows ($ in millions):

Three Months EndedNine Months EndedNovember 1, 2025November 2, 2024November 1, 2025November 2, 2024Revenue$794 $748 $2,174 $2,057 Revenue % change6.1 %(1.6)%5.7 %(2.9)%Comparable sales % change6.3 %(3.7)%4.5 %(3.0)%Gross profit$181 $168 $483 $474 Gross profit as a % of revenue22.8 %22.5 %22.2 %23.0 %Adjusted SG&A(1)$153 $155 $433 $436 Adjusted SG&A as a % of revenue(2)19.3 %20.7 %19.9 %21.2 %Adjusted operating income(1)$28 $13 $50 $38 Adjusted operating income as a % of revenue(3)3.5 %1.7 %2.3 %1.8 %

(1)Represents International segment Adjusted SG&A and International segment Adjusted operating income as reported in accordance with the adoption of ASU 2023-07. See our Annual Report on Form 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