Best Buy — May 28, 2026 release

“Comparable sales have started strong in May, with month-to-date growth up high single digits. Our comparable sales outlook for the full quarter is approximately 1.0% growth as we start to lap last year’s very successful gaming launch in June. We expect our Q2 adjusted operating income rate to be approximately 3.9%, which is flat to last year.” The company is reiterating the following full-year FY27 financial guidance provided on March 3, 2026: • Revenue of $41.2 billion to $42.1 billion • Comparable sales % change 1 of (1.0%) to 1.0% • Adjusted operating income rate 2 of 4.3% to 4.4% • Adjusted effective income tax rate 2 of approximately 25.5% • Adjusted diluted EPS 2 of $6.30 to $6.60 • Capital expenditures of approximately $750 million Domestic Segment Q1 FY27 Results Domestic Revenue Domestic revenue of $8.25 billion increased 1.5% versus last year, primarily driven by comparable sales growth of 1.8%. From a category perspective, the largest drivers of the comparable sales growth on a weighted basis were gaming, computing, mobile phones and services. These drivers were partially offset by a decline in appliances. Domestic online revenue of $2.62 billion increased 1.4% on a comparable basis, and as a percentage of total Domestic revenue, online revenue was flat to last year at 31.7%. Domestic Gross Profit Rate Domestic gross profit rate was 23.7% versus 23.5% last year. The higher gross profit rate included growth in Marketplace and Best Buy Ads, and improved financial performance from t