Best Buy delivered positive comparable sales in the fourth quarter with adjusted earnings and revenue topping Wall Street expectations.
An analyst consensus estimate from Zacks Investment Research had adjusted earnings per diluted share at $2.40 and revenue at $13.66 billion.
Comparable sales increased 0.5%. The company noted that revenue was $13.95 billion versus $14.65 billion in the year-previous quarter. Operating income was $217 million versus $561 million in the year-before period while adjusted operating income was $620 million versus $678 million.
Revenue in the United States was $12.72 billion, compared to $13.41 billion in the previous quarter, as comps increased 0.2%.
Best Buy net earnings for the full fiscal year were $927 million, or $4.28 per diluted share, versus $1.24 billion, or $5.68 per diluted share, in the year earlier. Adjusted earnings per diluted share were $6.37 flat with the year prior.
The company reported revenue of $41.53 billion versus $43.45 billion the previous year. Operating income was $1.26 billion versus $1.57 billion the previous year, while adjusted operating income was $1.65 billion versus $1.68 billion.
Revenue in the U.S. was $38.24 billion versus $40.1 billion in the year past.
In a conference call, Best Buy CEO Corie Barry stated that the company’s comp growth in computing, tablets, and services was partially offset by declines in appliances, home theater, and gaming.
“I am pleased to report better-than-expected sales for the fourth quarter driven by strong growth in computing as well as improved sales performance in other categories,” Barry said. “We also delivered a better-than-expected adjusted operating income rate for the holiday quarter. We are proud of our execution and the momentum we built in FY25. We are excited to build on that momentum to bring our FY26 strategy to life while we continue to navigate uncertain circumstances. We are focused on strengthening our position in retail as the leading omni-channel destination for technology and expanding our operating income rate while building and scaling incremental profit streams, including Best Buy Marketplace and Best Buy Ads, that we believe will drive robust returns in the future.”
