Overview

• Best Buy posted adjusted EPS of $1.15 for Q1, topping the $1.09 consensus while revenue of $8.77 billion narrowly missed forecasts.
• Comparable sales fell 0.7% as declines in home theater, appliances and drones were partly offset by gains in computing, mobile phones and tablets.
• The company now expects fiscal 2026 adjusted EPS of $6.15 to $6.30, slightly above analyst forecasts.
• CEO Corie Barry said China’s share of product costs has dropped to 35% from 55% as the retailer pushes vendors to broaden their supply chains.
• Shares fell more than 2% in premarket trading and a US trade court’s block of Trump’s tariffs introduces fresh uncertainty over import costs.