BBY - Best Buy Q1 Earnings: EPS Beat Restructuring Charges CEO Confident in Strengthening Position in Computing and Appliances | Benzinga
Best Buy Co., Inc (NYSE:BBY) reported fiscal first-quarter adjusted EPS of $1.20, beating the street view of $1.08. Quarterly sales of $8.85 billion missed the analyst consensus of $8.96 billion.
Quarterly domestic revenue of $8.20 billion decreased 6.8% year-over-year. Comparable sales fell 6.1%.
The company incurred $15 million of restructuring charges related to an enterprise-wide restructuring initiative in the quarter.
Domestic online revenue of $2.52 billion decreased 6.1% on a comparable basis.
The domestic gross profit rate was 23.4%, up from 22.6% last year, due to improved financial performance in ...