Home products and electronics retailer Best Buy reported splendid holiday-quarter sales and earnings. Sales jumped 13.9% to $15.3 billion, driven by both domestic and international segments contributing double-digit percentage increase in sales year-over-year. Profit for the quarter, however, was impacted by the recent tax legislation, reducing GAAP earnings per share by $1.17.
On an adjusted basis, EPS came in at $2.42, up 24.1% year-over-year.
The company saw a 9% comparable sales growth in the quarter, bringing its annual comparable sales growth to 5.6% for the year. In the Domestic segment, which makes up over 90% of the Enterprise operating income in the fourth quarter, the operating income rate declined 1.4%.
Outlook
For the current year, fiscal 2019, Best Buy expects to earn Enterprise revenue of $41 billion to $42 billion and adjusted diluted EPS of $4.80 to $5.00, a growth of 9% to 13%. Enterprise comparable sales are expected to have flat to 2% growth for the period.
For first quarter of 2019, Best Buy sees Enterprise revenue in the range of $8.65 billion to $8.75 billion, with Enterprise comparable sales growth of 1.5% to 2.5%. Adjusted diluted EPS is expected in the range of $0.68 to $0.73.
Most Popular
Yum! Brands (YUM) Q3 2024 Earnings: Key financials and quarterly highlights
Yum! Brands, Inc. (NYSE: YUM) reported its third quarter 2024 earnings results today. Total revenues grew 7% year-over-year to $1.82 billion. Net income decreased 8% to $382 million, or $1.35
Earnings Preview: Home Depot’s Q3 report likely to reflect weak consumer demand
The US housing industry has been mostly resilient to headwinds like economic uncertainties so far this year. However, housing activity cooled in recent months as high mortgage rates and inflation
Take-Two Interactive (TTWO) will report Q2 2025 earnings this week, a few points to note
Shares of Take-Two Interactive Software, Inc. (NASDAQ: TTWO) stayed red on Monday. The stock has gained 16% over the past three months. The gaming company is set to report its second