Best Buy Earnings Preview: International Declines To Continue

May 23rd, 2016 by Trefis Team
+0.09%
Upside
89.54
Market
89.62
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BBY: Best Buy Co logo
BBY
Best Buy Co

Best Buy (NYSE:BBY) is scheduled to announce its first quarter fiscal 2017 results on Tuesday, May 24.  In Q4 2016, Enterprise revenue declined 4.1% year-over-year (y-o-y) to $13.6 billion. This decline was attributed to a 1.8% comp sales decline in the domestic business and negative impact of its Canadian store closures.  The company delivered better than expected non-GAAP earnings of $1.53 per share as compared to $1.48 from the previous year. It also improved on its non-GAAP operating rate by 10 basis points to 5.9%.

In the upcoming Q1 2017 results, Best Buy expects its top line to decline by 2.4% – 3.6%, primarily due to a 15% – 20% decline in international revenue. In terms of the bottom line, the company expects its adjusted non-GAAP earnings per share to range between $0.31 and $0.35 per share.

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Notes:

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2) Figures mentioned are approximate values to help our readers remember the key concepts more intuitively. For precise figures, please refer to our complete analysis for Best Buy
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