Overview
- Best Buy reported a fiscal first‑quarter beat with $8.94 billion in revenue, adjusted EPS of $1.28 and comparable‑store sales up 2%, reversing prior declines.
- The company said growth was led by gaming, computing, mobile phones and services, and executives confirmed Best Buy Ads and the newer Marketplace channel materially contributed to results.
- Corie Barry will step down at the end of October and Jason Bonfig is set to become CEO on November 1, with management signaling Bonfig will prioritize expanding the advertising and marketplace businesses.
- On Thursday, May 28, 2026, Best Buy reaffirmed full‑year guidance, declared a $0.96 quarterly dividend payable July 9 and authorized about $300 million in stock buybacks for fiscal 2027.
- Legacy appliance sales fell sharply while demand for AI‑linked gadgets and emerging categories rose, a mix that highlights risks from component cost pressure and a tough year‑over‑year gaming comparison for Q2 even as the company shifts toward higher‑margin services.