Best Buy is an omnichannel technology retailer serving the United States and Canada through stores, digital channels and in-home services. Its business also includes memberships, advertising, third-party marketplace commissions and Best Buy Health.
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A snapshot of what BEST BUY CO INC owns and owes at a point in time.
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3 reports in this collection
| Report period | Filed with SEC | Form | Source |
|---|---|---|---|
| Feb 3, 20240000764478-24-000010 | Mar 15, 2024 | 10-K | Open 10-Ksec.gov |
| Feb 1, 20250000764478-25-000007 | Mar 19, 2025 | 10-K | Open 10-Ksec.gov |
| Jan 31, 20260000764478-26-000009 | Mar 18, 2026 | 10-K | Open 10-Ksec.gov |
Dates describe the filing metadata. Figures and reporting periods should be checked against the original statement. SEC links open in a new tab.
Best Buy’s sales recovery strengthened in the first half of fiscal 2027, but its earnings improvement needs qualification. Second-quarter comparable sales rose 4.1%, supported by computing, home theater and emerging categories, while Canada and traditional gaming weakened. GAAP operating income benefited substantially from a favorable restructuring comparison; even adjusted earnings retained a $34 million tariff refund. First-half operating cash flow improved, partly through inventory-payment and tax timing rather than earnings alone. Management raised its annual outlook in August, but holiday trading, supplier terms and trade policy remain important dependencies. As of October 24, 2026, Anne Bramman was confirmed as CFO, while Jason Bonfig’s November 1 CEO succession remained scheduled rather than completed. All financial amounts below are U.S. dollars.
Sources: 10-K · 2026-01-31 · 10-Q · 2026-08-01 · EX-99 · 2026-08-27 · 8-K · 2026-04-19 · 8-K · 2026-08-01
Best Buy combines product sales with advice, installation, repair and support. Its Domestic segment includes U.S. operations and Health; International is Canada. Marketplace transactions generate net commissions rather than the full value of merchandise sold. Much vendor advertising funding reduces cost of sales instead of appearing as revenue. Consequently, retail sales, advertising growth and marketplace commissions are not interchangeable measures. Standalone Ads and Marketplace profits are not disclosed.
Beginning in fiscal 2027, credit-card and digital-content revenue moved into services. The latest quarterly and half-year category comparisons were recast, with no change to consolidated revenue, earnings or cash flow. Comparable sales also includes specified advertising, commissions and other service income; it is not a pure measure of merchandise units or same-store sales. Separate pricing and volume contributions are unavailable.
Sources: 10-K · 2026-01-31 · 10-Q · 2026-08-01
For the 13 weeks ended August 1, 2026, revenue reached $9.779 billion versus $9.438 billion. Management attributed growth mainly to computing, home theater, AI glasses and trading cards, partly offset by traditional gaming. Domestic revenue increased 4.3%, while Canadian revenue fell 4.2% amid weaker comparable sales and adverse currency translation. Canada's adjusted segment operating income declined to $13 million from $18 million despite better gross margin.
Quarterly GAAP operating income rose to $421 million from $251 million. A $6 million restructuring credit replaced a $114 million charge, explaining $120 million of that improvement. Consolidated non-GAAP adjusted operating income increased more modestly, to $417 million from $369 million, and still included $34 million of tariff refunds. Ads and Marketplace supported margins, while lower product margins and higher compensation, advertising and initiative spending offset part of the benefit. Lower Health expenses helped. Quarterly diluted shares increased, so a shrinking share denominator did not drive EPS growth.
First-half revenue was $18.715 billion versus $18.205 billion, with net earnings of $591 million versus $388 million. The GAAP tax rate increased to 27.0% from 18.3%, principally because the prior-year comparison included discrete restructuring and Health-exit tax benefits. A further $41 million tariff refund received September 2 belongs to the third quarter, not these results. The two receipts represent substantially all requested refunds, limiting any expectation of recurring benefits.
Sources: 10-Q · 2026-08-01 · EX-99 · 2026-08-27
First-half operating cash flow increased to $1.296 billion from $783 million. Management emphasized inventory-purchase/payment and tax timing: payables supplied $1.259 billion, while inventory absorbed $1.079 billion. This is not equivalent to profit or a sustainable conversion forecast. August 1 inventory was $6.296 billion and payables were $6.026 billion; $986 million of supplier financing was primarily already included in payables and must not be counted again.
First-half capital expenditure was $344 million versus $341 million. Dividends consumed $405 million and cash repurchases $36 million. Two restructuring initiatives retained separate $26 million termination liabilities, mainly payable during fiscal 2027–2028 and fiscal 2028, respectively. Management still expected approximately $750 million of annual capital expenditure and $300 million of repurchases in August; these are plans, not completed spending. Holiday concentration makes interim cash generation unsuitable for simple annualization.
Sources: 10-Q · 2026-08-01 · EX-99 · 2026-08-27
At August 1, cash and equivalents were $2.255 billion, excluding $279 million of restricted cash. Debt carrying value was $1.169 billion, with operating lease liabilities of $2.964 billion reported separately. Note principal comprises $500 million due October 1, 2028 and $650 million due October 1, 2030; the $500 million tranche is swapped to floating rates. Purchase, service and other obligations also matter, so cash exceeding financial debt does not mean the business is obligation-free.
The $1.25 billion revolver expires in April 2030 and was undrawn at August 1. It is potential borrowing capacity, not cash. Covenant compliance was explicitly reported as of January 31, 2026; numerical headroom and detailed draw conditions are not established by these records. Liquidity remains dependent on cash generation and financing availability, and tighter vendor payment terms could increase funding needs.
Sources: 10-Q · 2026-08-01 · 10-K · 2026-01-31
On August 27, management raised fiscal 2027 revenue guidance to $42.3–$42.8 billion from the $41.2–$42.1 billion range maintained May 28. It raised comparable-sales guidance to 1.9%–3.0%, adjusted operating margin to 4.4%–4.5% and adjusted diluted EPS to $6.70–$6.90. Management cited first-half strength and momentum. These remain conditional forecasts; the tariff refunds' contribution to the increase was not quantified. Projected adjusted measures were not reconciled to GAAP because unpredictable adjustments could be material.
Supplier concentration, tariff exposure and competitive pricing constrain product economics. Five suppliers represented approximately 55% of fiscal 2026 merchandise purchases. Marketplace adds seller-quality and product-liability exposure, while payment and health information create cybersecurity and privacy risks. Health retained $298 million of goodwill after fiscal 2026 impairment; exiting one component did not eliminate the remaining business or establish that retained obligations disappeared. Some legal matters remain unaccrued because liability is not probable or estimable.
Leadership changes overlap. Bilunas's departure was announced June 22, effective July 31, with separation benefits but no quantified payout or specific departure reason. Barry provided interim CFO coverage from August 1 until Bramman's scheduled August 19 appointment; the September 4 filing confirms Anne Bramman as CFO. Bonfig's CEO appointment, approved April 19 and filed April 22, remains scheduled for November 1 as of October 24. Barry is scheduled to leave the CEO and board roles at October 31's close and then serve six months as a paid non-executive advisor. Bonfig's filing preserves an incorporated related-party disclosure exception; it does not establish an absence of reportable relationships.
Sources: EX-99.1 · 2026-05-28 · EX-99 · 2026-08-27 · 10-K · 2026-01-31 · 10-Q · 2026-08-01 · 8-K · 2026-06-19 · EX-99.1 · 2026-06-19 · 8-K · 2026-08-01 · 8-K · 2026-04-19
USD 41.691 bn
FY2026 · GAAP · consolidated · Attribution: consolidated · Reported currency
| Fiscal year | Value | YoY |
|---|---|---|
| 2026 | USD 41.691 bn | 0.4% |
| 2025 | USD 41.528 bn | — |
Consolidated GAAP revenue, including gross principal sales and net agency commissions.
Sources: 10-K · 2026-01-31
USD 43.452 bn
FY2024 · GAAP · consolidated · Attribution: consolidated · Reported currency
| Fiscal year | Value | YoY |
|---|---|---|
| 2024 | USD 43.452 bn | — |
Consolidated GAAP revenue, including gross principal sales and net agency commissions; 53-week fiscal year.
Sources: 10-K · 2026-01-31
USD 1.069 bn
FY2026 · GAAP · consolidated · Attribution: consolidated · Reported currency
| Fiscal year | Value | YoY |
|---|---|---|
| 2026 | USD 1.069 bn | 15.3% |
| 2025 | USD 927 m | -25.3% |
| 2024 | USD 1.241 bn | — |
Consolidated net earnings after income tax expense and equity in affiliate income.
Sources: 10-K · 2026-01-31
USD 1.962 bn
FY2026 · GAAP · consolidated · Attribution: consolidated · Reported currency
| Fiscal year | Value | YoY |
|---|---|---|
| 2026 | USD 1.962 bn | -6.5% |
| 2025 | USD 2.098 bn | 42.7% |
| 2024 | USD 1.47 bn | — |
Net operating cash flow, including operating working-capital movements and cash income taxes.
Sources: 10-K · 2026-01-31
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