Company: BBY
Filing Date: 2025-09-05
Form Type: 10-Q
Source: 0000764478-25-000040
Chunk: 2

Company: BEST BUY CO INC
Filing Date: 2025-09-05
Form: 10-Q
Item: Part II, Item 1
Chunk 2
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Item 1.    Legal Proceedings

For information about our legal proceedings, see Note 10, Contingencies, of the Notes to Condensed Consolidated Financial Statements, included in this Quarterly Report on Form 10-Q.

Item 2.    Unregistered Sales of Equity Securities and Use of Proceeds

c) Stock Repurchases

On February 28, 2022, our Board approved a $5.0 billion share repurchase program. There is no expiration date governing the period over which we can repurchase shares under this authorization. For additional information, see Note 9, Repurchase of Common Stock, of the Notes to the Condensed Consolidated Financial Statements included in this Quarterly Report on Form 10-Q.

Fiscal PeriodTotal Number ofShares PurchasedAverage Price Paidper ShareTotal Number of Shares Purchased as Part of Publicly Announced ProgramApproximate Dollar Value of Shares that May Yet Be Purchased Under the ProgramMay 4, 2025 through May 31, 2025-$- -$3,184,000,000 June 1, 2025 through July 5, 2025406,173$69.38 406,173$3,156,000,000 July 6, 2025 through August 2, 2025563,745$68.13 563,745$3,118,000,000 Total fiscal 2026 second quarter969,918$68.65 969,918$3,118,000,000 

Item 5.    Other Information

Rule 10b5-1 Plan Elections

During the fiscal quarter ended August 2, 2025, none of the Company’s directors or officers (as defined in Rule 16(a)-1(f) of the Securities Exchange Act of 1934, as amended) adopted, terminated or modified a Rule 10b5-1 trading arrangement or non-Rule 10b5-1 trading arrangement (as such terms are defined in Item 408 of Regulation S-K of the Securities Act of 1933, as amended). 

Restructuring Initiatives

As disclosed in Note 2, Restructuring, of the Notes to the Consolidated Financial Statements included in Part I, Item 1 to this Quarterly Report on Form 10-Q, during the second quarter of fiscal 2026, the Company commenced a restructuring initiative intended to align field resources with changing customer behaviors, close select non-trad