Best Buy’s comparable sales significantly improved in Q1 and maintains FY2027 performance guidance

Glonghui, May 28 — Best Buy announced that first-quarter revenue reached $8.94 billion, a year-on-year increase of 1.9%, surpassing the market expectation of $8.82 billion; adjusted earnings per share were $1.28, higher than the general market expectation of $1.22. Comparable sales increased by 2% year-on-year, mainly driven by strong performance in games, computers, mobile phones, and services, a significant improvement compared with a 0.7% decline in the same period last year. Best Buy maintains its full-year guidance for fiscal year 2027, expecting adjusted diluted earnings per share to be between $6.3 and $6.6, and revenue to be between $41.2 billion and $42.1 billion, while market expectations are $6.48 and $41.75 billion, respectively.