Best Buy jumps despite sales softness as big‑ticket demand stays weak
Best Buy delivered a mixed set of holiday‑quarter results on Tuesday as softer demand for big‑ticket electronics weighed on sales and partly offset an improvement in profitability.
03 March 2026 14:27:53
Source: Sharecast
Net income for the three months ended 31 January rose to $541m, or $2.56 on a per share basis, up from $117m or $0.54 at the same time a year earlier. On an adjusted basis, which excludes one‑off charges linked to its health business, earnings came in at $2.61 per share.
Quarterly revenues fell from $13.95bn to $13.81bn, though full‑year revenues edged up to $41.69bn from $41.53bn, marking the first annual increase after three consecutive years of declines.
Comparable sales slipped 0.8% in Q4, with weaker demand for appliances and home‑theatre products partly offset by growth in computing and mobile phones.
For the current fiscal year, Best Buy expects revenue of $41.2bn to $42.1bn, compared with $41.69bn in the year just ended, while adjusted earnings per share were forecast in the range of $6.30 to $6.60, after reporting $6.43 for the prior year. Comparable sales were pegged to come in somewhere between a 1% decline and a 1% increase, reflecting continued uncertainty in consumer electronics demand.
As of 1425 GMT, Best Buy shares had surged 11.12% in pre-market action to $68.44 each.
Reporting by Iain Gilbert at Sharecast.com