Form 8-K · Current Report · Filed 2026-05-28
Best Buy Announces CEO Transition and Reports Q1 FY27 Results
Best Buy Co., Inc. announced its first quarter results for fiscal year 2027, reporting a 2% increase in comparable sales and a 38% increase in diluted EPS to $1.31. The company also announced that current CEO Corie Barry will step down later this year, with Jason Bonfig set to take over as CEO on November 1, 2026. Best Buy reiterated its full-year FY27 guidance and reported a $9 million reduction in restructuring charges compared to $109 million in the prior year. The company also reclassified certain revenue categories to better align with management's current view of the business.
- Filer
- Best Buy Co., Inc. BBY · NYSE
- Filed
- Accession
- 0000764478-26-000018
- CIK
- 0000764478
- Signal
- High impactConsumer Cyclical
- Source
- Official filing on sec.gov ↗
Items reported
Reported Item
Market reaction
Close before filing
$64.54
Next session
+20.8%
Since filing
+33.7%
Latest close
$86.26
What happened, not what will happen — closing prices around the filing date.
Precedent
Previous filings from BBY reporting the same item, with the next session's move:
Insider tape
Within 45 days of this filing, BBY insiders reported 24 Form 4 transactions — net selling of $77.3M.
About Best Buy Co., Inc.
Best Buy Co., Inc. is a leading multinational retailer specializing in the sale of consumer electronics, technology products, and appliances. Its primary function is to provide a wide range of technology-related products and services, catering to personal, business, and education sectors. Best Buy operates through various channels, including retail stores, online platforms, and service centers, ensuring a comprehensive customer experience. The company offers an extensive product portfolio, including computers, mobile phones, home theaters, appliances, and smart home innovations, along with an array of after-sale services such as technical support, installation, and repairs. Best Buy is prominently positioned in the retail industry, recognized for its commitment to both customer service and technological integration. Founded in 1966 and headquartered in Richfield, Minnesota, the company has consistently adapted to new consumer trends and technological innovations, contributing significantly to the retail sector by embracing digital transformation and enhancing the value proposition for consumers worldwide. Its market significance is reinforced by its ability to navigate the evolving landscape of electronics retailing, making it an essential player in shaping consumer purchasing decisions related to technology.
Never miss another BBY filing
Profitelligence watches EDGAR around the clock and alerts you within seconds.