Best Buy reports flat first-quarter sales

Best Buy Co., Inc. announced flat revenues for the 13-week first quarter ended May 3, 2025, as compared to the 13-week first quarter ended May 4, 2024.

“I’m proud of how our teams have been navigating the environment and planning our business within dynamic macroeconomic conditions,” said Corie Barry, Best Buy CEO. “Against this backdrop, we executed well in Q1 and delivered in-line revenue and better-than-expected adjusted operating income.

“We remain focused on our FY26 strategic priorities, which include the following: 1) drive omni-channel experience improvements that resonate with our customers; 2) launch and scale incremental profit streams, including Best Buy Marketplace and Best Buy Ads; and 3) drive operational effectiveness and efficiency to fund strategic investments and offset pressures.”  

“Today we are updating our full year guidance to incorporate the impact of tariffs,” said Matt Bilunas, Best Buy CFO. “We expect annual comparable sales growth to be in the range of down 1% to up 1%, and our adjusted operating income rate to be similar to last year at approximately 4.2%. Our underlying working assumptions are that tariffs stay at the current levels for the rest of the year, and there is no material change in consumer behavior from the trends we have seen in recent quarters. As you can imagine, and based on our history, we will continue to scenario-plan and adjust with agility as the situation evolves.”

Bilunas continued, “For Q2 FY26, we expect comparable sales to be slightly down to last year and our adjusted operating income rate to be approximately 3.6%.”