Company: BBY
Filing Date: 2025-09-05
Form Type: 10-Q
Source: 0000764478-25-000040
Chunk: 28

Company: BEST BUY CO INC
Filing Date: 2025-09-05
Form: 10-Q
Item: Part I, Item 1
Chunk 28
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 China, which we estimate make up approximately 30% to 35% of the products we purchase, compared to 55% disclosed within our Annual Report on Form 10-K for the fiscal year ended February 1, 2025. This is the result of vendors using production capabilities in multiple countries and leveraging their ability to flex sourcing options as the environment evolves. We estimate approximately 25% of the products we purchase are from the U.S. and Mexico, with the remaining amount from other countries, including Vietnam, Thailand, South Korea and Malaysia.

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Table of Contents

Results of Operations

Consolidated Results

Selected consolidated financial data was as follows ($ in millions, except per share amounts):

Three Months EndedSix Months EndedAugust 2, 2025August 3, 2024August 2, 2025August 3, 2024Revenue$9,438 $9,288 $18,205 $18,135 Revenue % change1.6 %(3.1)%0.4 %(4.8)%Comparable sales % change1.6 %(2.3)%0.4 %(4.2)%Gross profit$2,194 $2,186 $4,243 $4,250 Gross profit as a % of revenue(1)23.2 %23.5 %23.3 %23.4 %Selling, general and administrative expense ("SG&A")$1,829 $1,810 $3,550 $3,547 SG&A as a % of revenue(1)19.4 %19.5 %19.5 %19.6 %Restructuring charges$114 $(7)$223 $8 Operating income$251 $383 $470 $695 Operating income as a % of revenue2.7 %4.1 %2.6 %3.8 %Net earnings$186 $291 $388 $537 Diluted EPS$0.87 $1.34 $1.82 $2.47 

(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