Best Buy Q3 FY25 Results Filed

TL;DR

BBY filed its Q3 FY25 10-Q. Retained earnings and AOCI updated.

AI Summary

Best Buy Co Inc. reported its third quarter results for fiscal year 2025, ending November 2, 2024. The company's financial statements show retained earnings and accumulated other comprehensive income as of November 2, 2024, building upon figures from the previous fiscal year's comparable periods.

Why It Matters

This filing provides investors with the latest financial snapshot of Best Buy, crucial for understanding the company's performance and financial health.

Risk Assessment

Risk Level: low — This filing is a routine quarterly report and does not indicate any immediate or significant new risks.

Key Numbers

• N/A — Revenue (Specific revenue figures are not detailed in this header section.)
• N/A — Net Income (Specific net income figures are not detailed in this header section.)
• N/A — EPS (Specific EPS figures are not detailed in this header section.)

Key Players & Entities

• BEST BUY CO INC (company) — Filer
• 0000764478 (company) — Central Index Key
• 20241102 (date) — Fiscal year end date
• 20241206 (date) — Filing date

FAQ

Key Financial Figures

• $0.10 — nge on which registered Common Stock, $0.10 par value per share BBY New York St

Filing Documents

• bby-20241102x10q.htm (10-Q) — 4558KB
• bby-20241102xex31_1.htm (EX-31.1) — 17KB
• bby-20241102xex31_2.htm (EX-31.2) — 17KB
• bby-20241102xex32_1.htm (EX-32.1) — 9KB
• bby-20241102xex32_2.htm (EX-32.2) — 10KB
• bby-20241102x10qg001.jpg (GRAPHIC) — 34KB
• 0000764478-24-000041.txt ( ) — 14646KB
• bby-20241102.xsd (EX-101.SCH) — 35KB
• bby-20241102_cal.xml (EX-101.CAL) — 45KB
• bby-20241102_def.xml (EX-101.DEF) — 146KB
• bby-20241102_lab.xml (EX-101.LAB) — 361KB
• bby-20241102_pre.xml (EX-101.PRE) — 292KB
• bby-20241102x10q_htm.xml (XML) — 3722KB

— Financial Information

Part I — Financial Information 3 Item 1.

Financial Statements

Financial Statements 3 a) Condensed Consolidated Balance Sheets as of November 2, 2024, February 3, 2024, and October 28, 2023 3 b) Condensed Consolidated Statements of Earnings for the three and nine months ended November 2, 2024, and October 28, 2023 4 c) Condensed Consolidated Statements of Comprehensive Income for the three and nine months ended November 2, 2024, and October 28, 2023 5 d) Condensed Consolidated Statements of Cash Flows for the nine months ended November 2, 2024, and October 28, 2023 6 e) Condensed Consolidated Statements of Changes in Shareholders' Equity for the three and nine months ended November 2, 2024, and October 28, 2023 7 f) Notes to Condensed Consolidated Financial Statements 8 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 15 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 24 Item 4.

Controls and Procedures

Controls and Procedures 25

— Other Information

Part II — Other Information 25 Item 1.

Legal Proceedings

Legal Proceedings 25 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 25 Item 5. Other Information 26 Item 6. Exhibits 26

Signatures

Signatures 27 WEBSITE AND SOCIAL MEDIA DISCLOSURE We disclose information to the public concerning Best Buy, Best Buy's products, content and services and other items through our websites in order to achieve broad, non-exclusionary distribution of information to the public. Some of the information distributed through this channel may be considered material information. Investors and others are encouraged to review the information we make public in the locations below.* This list may be updated from time to time. For information concerning Best Buy and its products, content and services, please visit: https://bestbuy.com. For information provided to the investment community, including news releases, events and presentations, and filings with the SEC, please visit: https://investors.bestbuy.com . For the latest information from Best Buy, including press releases, please visit: https://corporate.bestbuy.com/archive/. * These corporate websites, and the contents thereof, are not incorporated by reference into this Quarterly Report on Form 10-Q nor deemed filed with the SEC. 2 Table of Contents

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements Condensed Consol idated Balance Sheets $ in millions, except per share amounts (unaudited) November 2, 2024 February 3, 2024 October 28, 2023 Assets Current assets Cash and cash equivalents $ 643 $ 1,447 $ 636 Receivables, net 932 939 901 Merchandise inventories 7,806 4,958 7,562 Other current assets 574 553 766 Total current assets 9,955 7,897 9,865 Property and equipment, net 2,196 2,260 2,313 Operating lease assets 2,842 2,758 2,827 Goodwill 1,383 1,383 1,383 Other assets 642 669 494 Total assets $ 17,018 $ 14,967 $ 16,882 Liabilities and equity Current liabilities Accounts payable $ 7,145 $ 4,637 $ 7,133 Unredeemed gift card liabilities 246 253 245 Deferred revenue 878 1,000 934 Accrued compensation and related expenses 361 486 309 Accrued liabilities 690 902 760 Current portion of operating lease liabilities 616 618 614 Current portion of long-term debt 12 13 15 Total current liabilities 9,948 7,909 10,010 Long-term operating lease liabilities 2,293 2,199 2,270 Long-term debt 1,144 1,152 1,130 Long-term liabilities 551 654 660 Contingencies (Note 10) Equity Best Buy Co., Inc. Shareholders' Equity Preferred stock, $ 1.00 par value: Authorized - 400,000 shares; Issued and outstanding - none - - - Common stock, $ 0.10 par value: Authorized - 1.0 billion shares; Issued and outstanding - 213.8 million, 215.4 million and 216.3 million shares, respectively 22 22 22 Additional paid-in capital - 31 - Retained earnings 2,751 2,683 2,482 Accumulated other comprehensive income 309 317 308 Total equity 3,082 3,053 2,812 Total liabilities and equity $ 17,018 $ 14,967 $ 16,882 NOTE: The Consolidated Balance Sheet as of February 3, 2024, has been condensed from the audited consol

View Full Filing

View this 10-Q filing on SEC EDGAR