Best Buy lifts full-year 2025 outlook even as Q3 profit weakens

Best Buy has raised its outlook for the 2026 fiscal year, projecting higher gross and net contempt posting weaker nett successful the 3rd 4th (Q3).

The user electronics retailer present expects full-year gross betwixt $41.65bn and $41.95bn, up from its erstwhile scope of $41.1bn to $41.9bn.

It forecasts adjusted net per stock of $6.25 to $6.35, compared with erstwhile guidance of $6.15 to $6.30.

The institution besides updated its outlook for full-year comparable sales, present predicting an summation of betwixt 0.5% and 1.2%, having earlier guided for a scope betwixt a 1% diminution and a 1% rise.

Best Buy main fiscal serviceman Matt Bilunas stated: “Today we are raising our afloat twelvemonth forecast to bespeak the beardown Q3 results and our existent outlook for Q4.

“In Q4, we expect comparable income maturation successful the scope of (1%) to 1% and adjusted operating income complaint successful the scope of 4.8% to 4.9%.”

For Q3, Best Buy reported gross of $9.67bn, somewhat up of the $9.44bn recorded successful the aforesaid play a twelvemonth earlier.

Gross nett edged up to $2.24bn from $2.2bn successful the aforesaid 4th of the erstwhile year.

Earnings, however, declined. Net income for the 4th was $140m, down from $273m a twelvemonth earlier, portion operating income decreased to $198m from $350m successful the aforesaid play of the twelvemonth before.

In Q3, home gross roseate 2.1% year-on-year to $8.88bn, mostly driven by a 2.4% summation successful comparable sales.

On a class basis, computing, gaming and mobile phones were the main contributors to like-for-like income maturation connected a weighted basis, offset successful portion by little income successful location theatre and appliances.

Domestic online gross totalled $2.82bn, up 3.5% connected a comparable basis. E-commerce represented 31.8% of home revenue, compared with 31.4% successful the aforesaid 4th of the erstwhile year.

International gross reached $794m, an summation of 6.1%.

The planetary gross nett complaint improved to 22.8% from 22.5%.

Best Buy CEO Corie Barry commented: “Our comparable income grew 2.7% arsenic we continued to thrust beardown results crossed computing, gaming and mobile phones. We delivered income maturation crossed some online and stores, saw continued improvements successful lawsuit acquisition ratings and launched our Best Buy Marketplace.”

In Q3, the institution returned $234m to shareholders, comprising $199m successful dividends and $35m successful stock repurchases.

It besides declared a quarterly currency dividend of $0.95 per communal share.

In August 2025, Best Buy formally launched its integer marketplace, powered by Mirakl, offering an expanded scope of online products.

This motorboat much than doubles the fig of products disposable connected BestBuy.com and the Best Buy app.