For the fiscal year 2020. the retailer reiterated its previous outlook; non-GAAP EPS of $5.45 to $5.65, Enterprise revenue of $42.9 billion to $43.9 billion and Enterprise comparable sales growth of 0.5% to 2.5%.
“We reported comparable sales growth at the high end of our guidance and delivered better-than-expected profitability. In addition to these strong financial results, we continued to make significant progress implementing our Best Buy 2020 strategy to enrich lives through technology and further develop our competitive differentiation,” said CEO Hubert Joly.
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“As we look to the full year, we are reiterating the guidance we provided at the beginning of the year. This outlook balances our better-than-expected Q1 earnings, the fact that it is early in the year and our best estimate of the impact associated with the recent increase in tariffs on goods imported from China,” said CFO Corie Barry.
Best Buy stock had gained 31% since the beginning of 2019 and lost 8% of its value in the past 52 weeks.
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