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Best Buy 8-K Report, Financial Results (May 28, 2026)

Reports
Earnings & Results·Exhibits & Filings
Filing Date
Filed May 28, 2026
Period End
May 28, 2026
Security
BBY
In the record · 2016–202610-K1110-Q328-K109

BBY filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 109 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · Jun ’16Jun ’16
  2. Leadership change8-K · Apr ’19Apr ’19
  3. Material agreement8-K · May ’21May ’21
  4. Leadership change8-K · Jul ’25Jul ’25

01—Abstract

Summary

Summary of the 8-K filed May 28, 2026. Cited figures are marked; the original filing is the authoritative source.

Best Buy Co., Inc. (NYSE: BBY) reported first-quarter fiscal 2027 results for the 13 weeks ended May 2, 2026.

Revenue was $8.94 billiona, up from $8.77 billion a year earlier, with enterprise comparable sales growth of 2.0% versus a decline of (0.7%) last year. GAAP diluted EPS rose to $1.31 from $0.95, and adjusted diluted EPS was $1.28 versus $1.15. Operating income as a percentage of revenue was 4.1%, compared with 2.5% a year ago, and adjusted operating income as a percentage of revenue was 4.1% versus 3.8%.

The prior-year quarter included $109 millionb of restructuring charges tied to the Best Buy Health business, while this quarter recorded a $9 million reduction to restructuring charges. Management reiterated its full-year FY27 guidance from March 3, 2026, including revenue of $41.2 billion to $42.1 billion, comparable sales of (1.0%) to 1.0%, an adjusted operating income rate of 4.3% to 4.4%, and adjusted diluted EPS of $6.30 to $6.60. The CFO said month-to-date comparable sales in May were up high single digits, and guided second-quarter comparable sales to approximately 1.0% growth and the adjusted operating income rate to approximately 3.9%.

The company also announced that CEO Corie Barry will step down later this year, with Jason Bonfig, currently Chief Customer, Product and Fulfillment Officer, becoming CEO effective November 1, 2026. The filing also discloses a reclassification of certain revenue categories beginning in Q1 FY27, moving credit card revenue and digital content revenue into services revenue.

Total revenue, total comparable sales, net earnings and cash flows are unaffected, and prior periods have been recast. The board declared a regular quarterly dividend of $0.96c per share, payable July 9, 2026, to holders of record on June 18, 2026.

02—Key points

Key Highlights

  1. Revenue of $8.94 billion, up from $8.77 billion; enterprise comparable sales grew 2.0% versus a decline of (0.7%) a year earlier.
  2. GAAP diluted EPS of $1.31 vs. $0.95; adjusted diluted EPS of $1.28 vs. $1.15 in the prior-year quarter.
  3. Operating income rate of 4.1% vs. 2.5%, helped by lower restructuring charges ($9 million reduction vs. $109 million charge last year).
  4. Domestic gross profit rate rose to 23.7% from 23.5%, driven by Marketplace and Best Buy Ads growth, partly offset by lower product margin rates.
  5. FY27 guidance reiterated: revenue of $41.2–$42.1 billion, comparable sales of (1.0%) to 1.0%, adjusted diluted EPS of $6.30–$6.60.
  6. CEO transition announced: Corie Barry to step down later this year; Jason Bonfig to become CEO effective November 1, 2026.
  7. Revenue category reclassification moves credit card and digital content revenue into services, with prior periods recast; total revenue and comparable sales are unaffected.

03—Questions

Frequently Asked Questions

  1. How did Best Buy perform in the first quarter of fiscal 2027?

    Revenue rose to $8.94 billion from $8.77 billion, and enterprise comparable sales grew 2.0% after a (0.7%) decline a year earlier. GAAP diluted EPS was $1.31 versus $0.95, and adjusted diluted EPS was $1.28 versus $1.15.

  2. Did Best Buy change its full-year outlook?

    No. The company reiterated its FY27 guidance from March 3, 2026, including revenue of $41.2 billion to $42.1 billion and adjusted diluted EPS of $6.30 to $6.60.

  3. What is the outlook for the second quarter?

    The CFO said comparable sales are expected to grow approximately 1.0% for the quarter, with month-to-date growth in May up high single digits. The adjusted operating income rate is expected to be approximately 3.9%, flat to last year.

  4. Who will lead Best Buy, and when?

    CEO Corie Barry will step down later this year. Jason Bonfig, Chief Customer, Product and Fulfillment Officer, will become CEO effective November 1, 2026.

  5. Does the revenue reclassification affect reported results?

    The reclassification only changes how revenue is presented by category. Credit card and digital content revenue move into services. Total revenue, total comparable sales, net earnings and cash flows are not affected, and prior periods have been recast.

04—Continue

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