Total Revenue

-4.8% (from $14,646M to $13,948M)

Revenue decreased by 4.8% YoY, reflecting softer consumer demand and category-specific sales declines, consistent with earlier periods where weakness in key categories impacted performance. " "

Operating Income (EBIT)

-61% (from $561M to $217M)

EBIT dropped sharply by 61% YoY, primarily due to lower total revenue as well as rising cost pressures and expense ratios, which magnified the adverse impact on margins compared to the prior period. " "

Net Income

+154% (from $46M to $117M)

Net income increased by 154% YoY despite revenue weakness, suggesting some operational improvements; however, this contrasts with EPS performance, indicating underlying changes in capital structure or share count. " " "

EPS

-74% (from $2.12 to $0.55)

EPS fell by 74% YoY due to dilution effects or changes in the share count, which offset the net income recovery—this discrepancy between net income and EPS underscores adjustments made in capital allocation compared to previous periods. " " "

Depreciation & Amortization

+293% (from $221M to $866M)

Depreciation & amortization surged by nearly 293% YoY, reflecting accelerated charges likely from new or reclassified capital investments and updated asset valuations, a stark contrast to the previous period’s lower expense base. " "

Share Repurchases

Increased dramatically (from $7M to $500M)

Share repurchases jumped from $7M to $500M YoY, driven by the company's aggressive capital return strategy and favorable market conditions that encouraged a higher level of buybacks in the current period. " "

Dividend Payments

Increased substantially (from $198M to $807M)

Dividend payments increased significantly from $198M to $807M YoY, reflecting a higher regular quarterly cash dividend per share and an overall push to boost shareholder returns compared to the prior year. " "

Cash Flow

-90% (from $734M to $75M)

Net cash change declined by 90% YoY, primarily due to increased cash outflows for financing activities such as higher share repurchases and dividend payments, coupled with reduced investing inflows, contrasting notably with the previously stronger cash position. " "

Enterprise Revenue

FY 2026

no prior guidance

$41.4 billion to $42.2 billion "

no prior guidance

Enterprise Comparable Sales

FY 2026

no prior guidance

Flat to up 2% "

no prior guidance

Enterprise Adjusted Operating Income Rate

FY 2026

no prior guidance

4.2% to 4.4% "

no prior guidance

Adjusted Effective Income Tax Rate

FY 2026

no prior guidance

Approximately 25% "

no prior guidance

Adjusted Diluted EPS

FY 2026

no prior guidance

$6.20 to $6.60 "

no prior guidance

Capital Expenditures

FY 2026

no prior guidance

Approximately $700 million to $750 million "

no prior guidance

Share Repurchases

FY 2026

no prior guidance

Approximately $300 million "

no prior guidance

U.S. Marketplace Launch

Q3 discussions outlined a plan to launch a U.S. marketplace mid‐next year with emphasis on leveraging Best Buy Canada’s experience. " " Q1 did not mention the marketplace.

Q4 provided extensive details including launch timing in mid‑fiscal 2026, focus on new categories, seller vetting, returns at stores, and scalable profitability. " " " "

Increasing clarity and detail; a topic that has emerged from limited mention in early periods to a fully detailed strategic initiative.

Digital Initiatives

Across Q1–Q3 there were frequent references to app improvements, digital wallet introduction, personalized content, and enhanced in‑home delivery tracking. " " " "

Q4 reported stronger digital sales performance (almost 40% of domestic sales), record app ranking, faster delivery, and deeper omnichannel enhancements. " "

Consistent focus with deeper integration and improved customer engagement in Q4.

Tariffs and Supply Chain Challenges

Q3 detailed supply chain diversification and sourcing from China and Mexico " " ; Q2 and Q1 did not mention these issues.

Q4 provided a comprehensive discussion on supply chain flexibility, detailed tariff impacts on pricing and sourcing, and highlighted risks from Mexico sourcing. " " " "

A newly emphasized topic in Q4 with more granular discussion compared to its absence or brief mentions in earlier periods.

Computing Category Growth

Q1 anticipated growth driven by replacement cycles and AI; Q2 reported 6% growth in computing and tablets; Q3 noted 5.2% growth with 7% in laptops. " " " "

Q4 showcased improved performance with 9% domestic comparable sales in computing and 10% growth in laptops. "

Performance accelerating with increasingly positive sentiment in growth metrics.

AI-Driven Innovation

Q1 introduced AI-powered devices and features (eg, Microsoft Copilot+); Q2 discussed early impacts and prototypes; Q3 elaborated on AI features in premium laptops and exclusivity in the assortment. " " " "

Q4 emphasized leveraging AI for improving search, discovery, and personalization across digital channels. " "

A consistent strategic focus, evolving from early-stage innovations to broader integration that enhances customer experiences.

Membership Program Growth

Q1 reported strong membership growth with 7 million paid members and high interaction; Q2 and Q3 noted continued growth, higher engagement, and improved retention. " " " "

Q4 reported approximately 100 million total members and nearly 8 million paid members along with digital and AI‐powered customer service improvements. "

Consistent robust growth with ongoing enhancements in engagement and retention strategies.

Customer Engagement

Q1–Q3 emphasized increased interaction, share‑of‑wallet focus through membership, and digital tool enhancements. " "

In Q4, customer engagement was further boosted through AI-powered solutions reducing service transfers and improvements in digital personalization. " "

Evolution towards more digital/AI-enhanced engagement while maintaining consistent focus on customer value.

Store Format Expansion / New Physical Retail Models

Q1 discussed store closures/openings and refreshes; Q2 focused on in‑store refreshes and rebranding stores in Canada; Q3 experimented with new smaller format models and outlet strategies. " " " " " "

Q4 continued the trend with updates on merchandising improvements, vendor pads, selective closures (12 traditional stores) and openings of new, smaller format stores. "

Continuous refinement with a shift toward smaller, more agile retail formats and experiential store designs.

TV and Appliance Category Performance

Q1 noted declines, higher promotional activity leading to lower ASPs and margins; Q2 and Q3 described a promotional environment with anticipated improvements in TVs but persistent declines in appliances. " " " " " "

Q4 reported improved performance for TVs within the broader home theater category, while appliances remained weak and declined further. " "

Mixed sentiment: TVs showing signs of recovery while appliances continue to struggle due to promotional pressures.

Promotional Activity Impacting Margins

Q1 highlighted increased promotional intensity affecting product margins, with strategic price investments; Q2 and Q3 discussions pointed to promotions as a key driver for lower margins with evolving tactical responses. " " " " " " "

Q4 continued to experience impactful holiday promotions—improving unit sales in some areas but partially offsetting margin gains with lower credit card profit-sharing revenue. " "

A consistently challenging area where management refines targeted promotions to balance sales growth and margin pressures.

Operating Leverage and Profitability Concerns

Q1 reported better-than-expected profitability and a 3.8% operating income rate; Q2 saw improvements with operating income rate reaching 4.1% through cost controls; Q3 had slightly lower operating income fueled by SG&A deleverage and softer sales. " " "

Q4 outlined ongoing investments (eg, marketplace and ads) and external pressures (tariffs) that challenge operating leverage, while projecting a gradual margin improvement into fiscal 2026. " "

A persistent balance between cost efficiency and strategic investments—with cautious optimism amidst external headwinds.

Gaming Console Market Share Gains

Q1–Q3 did not specifically mention gaming console market share gains [No data].

Q4 highlighted a milestone achievement—a 30-year high in market share for gaming consoles, signaling strength in the gaming category. "

A new, positive development in Q4 that may have a large impact on future competitive positioning.

Consumer Demand Volatility

Q1 reported softer-than-expected sales with a 6.1% comparable sales decline, noting macro challenges and shifting consumer priorities; Q2 described an unpredictable environment with election and holiday season effects; Q3 detailed volatile demand with inconsistent promotional elasticity. " " " "

Q4 acknowledged continued volatility in consumer demand due to high inflation and increased value focus, though stability is expected in key areas like computing. "

A consistently recognized challenge with consumers remaining cautious and value-focused, affecting multiple categories over time.