BBY - Best Buy Co. Inc. (BBY) Q1 2025 Earnings Call Transcript
2024-05-30 11:25:24 ET
Best Buy Co., Inc. (BBY)
Q1 2025 Earnings Conference Call
May 30, 2024 08:00 AM ET
Company Participants
Mollie O'Brien - VP, IR
Corie Barry - CEO
Matt Bilunas - CFO
Conference Call Participants
Simeon Gutman - Morgan Stanley
Peter Keith - Piper Sandler
Robert Ohmes - Bank of America
Chris Horvers - JPMorgan
Anthony Chukumba - Loop Capital
Seth Basham - Wedbush Securities
Jonathan Matuszewski - Jefferies
Presentation
Operator
Ladies and gentlemen, thank you for standing by. Welcome to Best Buy's First Quarter Fiscal 2025 Earnings Conference Call. At this time, all participants are in listen-only mode. Later, we will conduct a question-and-answer session. [Operator Instructions] As a reminder, this call is being recorded for playback and will be available by approximately 1:00 PM Eastern Standard Time today. [Operator Instructions]
I will now turn the conference call over to Mollie O'Brien, Head of Investor Relations. You may now begin.
Mollie O'Brien
Thank you, and good morning, everyone. Joining me on the call today are Corie Barry, our CEO; and Matt Bilunas, our CFO. During the call today, we will be discussing both GAAP and non-GAAP financial measures. A reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measures, and an explanation of why these non-GAAP financial measures are useful can be found in this morning's earnings release, which is available on our website, investors.bestbuy.com.
Some of the statements we will make today are considered forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may address the financial condition, business initiatives, growth plans, investments, and expected performance of the company and are subject to risks and uncertainties that could cause actual results to differ materially from such forward-looking statements. Please refer to the company's current earnings release and our most recent 10-K and subsequent 10-Qs for information on these risks and uncertainties. The company undertakes no obligation to update or revise any forward-looking statements to reflect events or circumstances that may arise after the date of this call.
I will now turn the call over to Corie.
Corie Barry
Good morning, everyone, and thank you for joining us. Today, we are reporting better-than-expected Q1 profitability. Through strong execution, we continue to manage our profitability, while at the same time preparing for future growth. We progressed against our fiscal 2025 priorities, grew our paid membership base, implemented various restructuring actions and drove improvements in our relationship net promoter score and in our operational metrics for most of our prioritized customer experiences....
Best Buy Co., Inc. (BBY) Q1 2025 Earnings Call Transcript