Best Buy — Aug 28, 2025 release

“Our SG&A expense was as expected, and we saw some gross profit rate mix pressure from the strong growth in gaming and computing.” “For Q3, we expect comparable sales growth to be similar to what we just delivered in Q2 and the adjusted operating income rate to be similar to last year’s Q3 3.7% rate,” continued Bilunas. “We feel good about our Q2 results and increasingly confident about our plans for the back half of the year. Given the uncertainty of potential tariff impacts in the back half, both on consumers overall as well as our business, we feel it is prudent to maintain the annual guidance we provided last quarter. At this point, we do believe we are trending toward the higher end of our sales range.” FY26 Financial Guidance Best Buy is reiterating the following full-year FY26 financial guidance provided on May 29, 2025: • Revenue of $41.1 billion to $41.9 billion • Comparable sales 1 of (1.0%) to 1.0% • Adjusted operating income rate 2 of approximately 4.2% • Adjusted effective income tax rate 2 of approximately 25.0% • Adjusted diluted EPS 2 of $6.15 to $6.30 • Capital expenditures of approximately $700 million Domestic Segment Q2 FY26 Results Domestic Revenue Domestic revenue of $8.70 billion increased 0.9% versus last year primarily driven by comparable sales growth of 1.1%. From a merchandising perspective, the largest drivers of the comparable sales increase on a weighted basis were gaming, computing and mobile phones. These drivers were partially offset by decli