Best Buy Co. Inc. published the transcript of its fourth-quarter fiscal 2026 earnings conference call. The call was hosted by Vice President of Investor Relations Mollie O’Brien and featured CEO Corie Barry, Chief Financial and Strategy Officer Matthew M. Bilunas, and Senior Executive Vice President, Customer Offerings and Fulfillment Jason Bonfig, with analysts from firms including Goldman Sachs, Truist, UBS, Oppenheimer, Citi, Guggenheim, Morgan Stanley, Wells Fargo, and Jefferies participating in Q&A. Management said Q4 results delivered “better-than-expected profitability,” with revenue of $13.8 billion, an adjusted operating income rate of 5%, and adjusted EPS of $2.61, while comparable sales fell 0.8% amid a promotional holiday environment and weather-related store closures late in the quarter. Barry noted demand was “softer-than-expected” early in the season but strengthened late: “We then experienced strong sales in the last two weeks of December and the start of January.” The company highlighted continued strength in computing (eighth straight quarter of positive comps) and mobile phones (fourth straight quarter of growth), offset by declines in home theater and appliances. Best Buy also emphasized growth initiatives, including its U.S. digital marketplace and retail media business. Barry said, “We successfully launched and scaled our US digital marketplace,” while also reporting Best Buy Ads gross advertising collections of “just over $900 million” in fiscal 2026, up more than 7%. Looking ahead, Best Buy guided fiscal 2027 revenue of $41.2 billion to $42.1 billion and comparable sales of down 1% to up 1%, while flagging memory-component cost inflation and supply uncertainty, particularly in computing. Bilunas said gross profit rate is expected to improve by about 30 basis points “primarily driven by both Ads business and Marketplace growing,” while product margin rates are assumed “pretty flat year-over-year.” Best Buy also outlined store and digital investments, including plans to open six new U.S. stores and partnerships to make its catalog more discoverable via AI platforms; Barry said the company is “partnering with OpenAI to give our customers a new way to explore and discover our products.” The full transcript can be accessed through the link below.
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