Overview
- Best Buy reported first-quarter results on Thursday, May 28, 2026, with adjusted EPS of $1.28 beating estimates and revenue of $8.94 billion surpassing consensus.
- Comparable sales rose 2% for the quarter, led by strength in gaming, computing, mobile and services and by growth in Best Buy Ads and Marketplace.
- CEO Corie Barry said she will step down at the end of October and Jason Bonfig will succeed her on November 1 as the company doubles down on retail, media and technology platforms.
- The board declared a $0.96 quarterly cash dividend payable July 9 and the company returned $202 million to shareholders during the quarter.
- Management reaffirmed full‑year guidance but warned Q2 comparable sales should moderate to about 1% because of a tough year‑ago gaming comparison and ongoing category and component cost pressure, with appliances down 13.6% in the quarter.