Best Buy backs FY25 EPS view $5.75-$6.20, consensus $6.02

Backs FY25 revenue view $41.3B-$42.6B, consensus $42.01B. Sees FY25 comparable sales down 3% to flat. Sees FY25 capital expenditures $750M. “As we look to the rest of the year, we continue to expect sequential improvement in our comparable sales performance, however, we believe we are trending towards the midpoint of our annual comparable sales guidance,” said Matt Bilunas, Best Buy CFO. “Even at the midpoint of the comparable sales guidance, we expect to deliver profitability at the high end of our non-GAAP operating income rate guidance due to a higher gross profit rate in our membership and services offerings.”