EX-99.23bby-fy27q1xexx992.htmEX-99.2 Document
Exhibit 99.2
BEST BUY CO., INC.
REVENUE CATEGORY RECLASSIFICATION
T1Beginning in Q1 FY27, the Company reclassified certain amounts within its revenue categories to better align with management's current view of the business. The reclassification primarily relates to T2credit card revenue and T3digital content revenue (including digital gaming, software and subscriptions) that were previously included in various product revenue categories and, following the reclassification, are now included within services revenue. T4The reclassification impacts only the presentation of revenue by category and does not affect previously reported total revenue, total comparable sales, net earnings or cash flows. T5Revenue, revenue mix and comparable sales by revenue category have been recast to conform with this reclassification for FY25 and FY26, as well as for each quarter within such fiscal years.
The key components of each revenue category are now as follows:
•Computing and Mobile Phones - computing (including desktops, notebooks and peripherals), mobile phones (including related mobile network carrier commissions), networking, tablets (including e-readers) and wearables (including smartwatches);
•Consumer Electronics - digital imaging, health and fitness products, home theater (including home theater accessories, soundbars and televisions), portable audio (including headphones and portable speakers) and smart home;
•Appliances - large appliances (including dishwashers, laundry, ovens and refrigerators) and small appliances (including blenders, coffee makers, vacuums and personal care);
•Entertainment - drones, gaming (including hardware, peripherals and certain software, as well as augmented reality glasses), toys and virtual reality;
•Services - advertising, credit card revenue, digital content (including digital gaming, software and subscriptions), fulfillment, health-related services, installation, marketplace commissions, memberships, repair, technical support and warranty-related services; and
•Other - other product offerings, including baby, food and beverage and outdoor living.
1
BEST BUY CO., INC.
REVENUE CATEGORY RECLASSIFICATION
($ in millions)
(Unaudited and subject to reclassification)
Revenue
Q1 FY25
Q2 FY25
Q3 FY25
Q4 FY25
FY25
As Reported
Change
Reclassified
As Reported
Change
Reclassified
As Reported
Change
Reclassified
As Reported
Change
Reclassified
As Reported
Change
Reclassified
Domestic:
Computing and Mobile Phones
$
3,588
$
(60)
$
3,528
$
3,792
$
(62)
$
3,730
$
4,065
$
(69)
$
3,996
$
5,658
$
(62)
$
5,596
$
17,103
$
(253)
$
16,850
Consumer Electronics
2,364
(24)
2,340
2,478
(22)
2,456
2,425
(27)
2,398
3,881
(23)
3,858
11,148
(96)
11,052
Appliances
1,090
(25)
1,065
1,177
(23)
1,154
1,057
(23)
1,034
1,265
(21)
1,244
4,589
(92)
4,497
Entertainment
520
(50)
470
498
(49)
449
479
(50)
429
1,144
(65)
1,079
2,641
(214)
2,427
Services
578
171
749
590
166
756
601
185
786
687
191
878
2,456
713
3,169
Other
63
(12)
51
88
(10)
78
70
(16)
54
80
(20)
60
301
(58)
243
Total Domestic revenue
$
8,203
$
—
$
8,203
$
8,623
$
—
$
8,623
$
8,697
$
—
$
8,697
$
12,715
$
—
$
12,715
$
38,238
$
—
$
38,238
International:
Computing and Mobile Phones
$
318
$
(6)
$
312
$
308
$
(6)
$
302
$
386
$
(6)
$
380
$
566
$
(12)
$
554
$
1,578
$
(30)
$
1,548
Consumer Electronics
173
(2)
171
186
(1)
185
194
(2)
192
364
(2)
362
917
(7)
910
Appliances
60
—
60
86
(1)
85
67
—
67
108
(1)
107
321
(2)
319
Entertainment
46
—
46
39
—
39
47
—
47
135
1
136
267
1
268
Services
39
6
45
38
7
45
47
6
53
51
10
61
175
29
204
Other
8
2
10
8
1
9
7
2
9
9
4
13
32
9
41
Total International revenue
$
644
$
—
$
644
$
665
$
—
$
665
$
748
$
—
$
748
$
1,233
$
—
$
1,233
$
3,290
$
—
$
3,290
Q1 FY26
Q2 FY26
Q3 FY26
Q4 FY26
FY26
As Reported
Change
Reclassified
As Reported
Change
Reclassified
As Reported
Change
Reclassified
As Reported
Change
Reclassified
As Reported
Change
Reclassified
Domestic:
Computing and Mobile Phones
$
3,792
$
(55)
$
3,737
$
3,930
$
(64)
$
3,866
$
4,368
$
(74)
$
4,294
$
5,948
$
(61)
$
5,887
$
18,038
$
(254)
$
17,784
Consumer Electronics
2,237
(22)
2,215
2,351
(27)
2,324
2,351
(29)
2,322
3,588
(26)
3,562
10,527
(104)
10,423
Appliances
1,001
(22)
979
1,074
(29)
1,045
965
(27)
938
1,126
(21)
1,105
4,166
(99)
4,067
Entertainment
449
(51)
398
681
(57)
624
543
(54)
489
1,138
(66)
1,072
2,811
(228)
2,583
Services
579
170
749
581
194
775
591
198
789
715
185
900
2,466
747
3,213
Other
69
(20)
49
81
(17)
64
60
(14)
46
60
(11)
49
270
(62)
208
Total Domestic revenue
$
8,127
$
—
$
8,127
$
8,698
$
—
$
8,698
$
8,878
$
—
$
8,878
$
12,575
$
—
$
12,575
$
38,278
$
—
$
38,278
International:
Computing and Mobile Phones
$
324
$
(7)
$
317
$
346
$
(7)
$
339
$
420
$
(8)
$
412
$
586
$
(7)
$
579
$
1,676
$
(29)
$
1,647
Consumer Electronics
173
(2)
171
198
(1)
197
202
(3)
199
360
1
361
933
(5)
928
Appliances
57
(1)
56
80
(1)
79
64
(1)
63
102
—
102
303
(3)
300
Entertainment
42
(1)
41
68
—
68
54
—
54
117
—
117
281
(1)
280
Services
37
10
47
39
9
48
47
11
58
67
2
69
190
32
222
Other
7
1
8
9
—
9
7
1
8
7
4
11
30
6
36
Total International revenue
$
640
$
—
$
640
$
740
$
—
$
740
$
794
$
—
$
794
$
1,239
$
—
$
1,239
$
3,413
$
—
$
3,413
2
BEST BUY CO., INC.
REVENUE CATEGORY RECLASSIFICATION
(Unaudited and subject to reclassification)
Revenue Mix
Q1 FY25
Q2 FY25
Q3 FY25
Q4 FY25
FY25
As Reported
Change
Reclassified
As Reported
Change
Reclassified
As Reported
Change
Reclassified
As Reported
Change
Reclassified
As Reported
Change
Reclassified
Domestic:
Computing and Mobile Phones
44
%
(1)
%
43
%
44
%
(1)
%
43
%
47
%
(1)
%
46
%
44
%
—
%
44
%
45
%
(1)
%
44
%
Consumer Electronics
29
%
(1)
%
28
%
29
%
—
%
29
%
28
%
(1)
%
27
%
31
%
(1)
%
30
%
29
%
—
%
29
%
Appliances
13
%
—
%
13
%
13
%
—
%
13
%
12
%
—
%
12
%
10
%
—
%
10
%
12
%
—
%
12
%
Entertainment
6
%
—
%
6
%
6
%
(1)
%
5
%
5
%
—
%
5
%
9
%
(1)
%
8
%
7
%
(1)
%
6
%
Services
7
%
2
%
9
%
7
%
2
%
9
%
7
%
2
%
9
%
5
%
2
%
7
%
6
%
2
%
8
%
Other
1
%
—
%
1
%
1
%
—
%
1
%
1
%
—
%
1
%
1
%
—
%
1
%
1
%
—
%
1
%
Total
100
%
—
%
100
%
100
%
—
%
100
%
100
%
—
%
100
%
100
%
—
%
100
%
100
%
—
%
100
%
International:
Computing and Mobile Phones
50
%
(2)
%
48
%
46
%
(1)
%
45
%
52
%
(1)
%
51
%
46
%
(1)
%
45
%
48
%
(1)
%
47
%
Consumer Electronics
27
%
—
%
27
%
28
%
—
%
28
%
26
%
—
%
26
%
29
%
—
%
29
%
28
%
—
%
28
%
Appliances
9
%
—
%
9
%
13
%
—
%
13
%
9
%
—
%
9
%
9
%
—
%
9
%
10
%
—
%
10
%
Entertainment
7
%
—
%
7
%
6
%
—
%
6
%
6
%
—
%
6
%
11
%
—
%
11
%
8
%
—
%
8
%
Services
6
%
1
%
7
%
6
%
1
%
7
%
6
%
1
%
7
%
4
%
1
%
5
%
5
%
1
%
6
%
Other
1
%
1
%
2
%
1
%
—
%
1
%
1
%
—
%
1
%
1
%
—
%
1
%
1
%
—
%
1
%
Total
100
%
—
%
100
%
100
%
—
%
100
%
100
%
—
%
100
%
100
%
—
%
100
%
100
%
—
%
100
%
Q1 FY26
Q2 FY26
Q3 FY26
Q4 FY26
FY26
As Reported
Change
Reclassified
As Reported
Change
Reclassified
As Reported
Change
Reclassified
As Reported
Change
Reclassified
As Reported
Change
Reclassified
Domestic:
Computing and Mobile Phones
47
%
(1)
%
46
%
45
%
(1)
%
44
%
49
%
(1)
%
48
%
47
%
—
%
47
%
47
%
(1)
%
46
%
Consumer Electronics
28
%
(1)
%
27
%
27
%
—
%
27
%
26
%
—
%
26
%
29
%
(1)
%
28
%
28
%
(1)
%
27
%
Appliances
12
%
—
%
12
%
12
%
—
%
12
%
11
%
—
%
11
%
9
%
—
%
9
%
11
%
—
%
11
%
Entertainment
5
%
—
%
5
%
8
%
(1)
%
7
%
6
%
(1)
%
5
%
9
%
—
%
9
%
7
%
—
%
7
%
Services
7
%
2
%
9
%
7
%
2
%
9
%
7
%
2
%
9
%
6
%
1
%
7
%
6
%
2
%
8
%
Other
1
%
—
%
1
%
1
%
—
%
1
%
1
%
—
%
1
%
—
%
—
%
—
%
1
%
—
%
1
%
Total
100
%
—
%
100
%
100
%
—
%
100
%
100
%
—
%
100
%
100
%
—
%
100
%
100
%
—
%
100
%
International:
Computing and Mobile Phones
51
%
(1)
%
50
%
47
%
(1)
%
46
%
53
%
(1)
%
52
%
47
%
—
%
47
%
49
%
(1)
%
48
%
Consumer Electronics
27
%
—
%
27
%
27
%
(1)
%
26
%
25
%
—
%
25
%
29
%
—
%
29
%
27
%
—
%
27
%
Appliances
9
%
—
%
9
%
11
%
—
%
11
%
8
%
—
%
8
%
8
%
—
%
8
%
9
%
—
%
9
%
Entertainment
6
%
—
%
6
%
9
%
—
%
9
%
7
%
—
%
7
%
10
%
(1)
%
9
%
8
%
—
%
8
%
Services
6
%
1
%
7
%
5
%
2
%
7
%
6
%
1
%
7
%
5
%
1
%
6
%
6
%
1
%
7
%
Other
1
%
—
%
1
%
1
%
—
%
1
%
1
%
—
%
1
%
1
%
—
%
1
%
1
%
—
%
1
%
Total
100
%
—
%
100
%
100
%
—
%
100
%
100
%
—
%
100
%
100
%
—
%
100
%
100
%
—
%
100
%
3
BEST BUY CO., INC.
REVENUE CATEGORY RECLASSIFICATION
(Unaudited and subject to reclassification)
Comparable Sales(1)
Q1 FY25
Q2 FY25
Q3 FY25
Q4 FY25
FY25
As Reported
Change
Reclassified
As Reported
Change
Reclassified
As Reported
Change
Reclassified
As Reported
Change
Reclassified
As Reported
Change
Reclassified
Domestic:
Computing and Mobile Phones
(2.2)
%
0.4
%
(1.8)
%
3.9
%
0.4
%
4.3
%
3.8
%
0.3
%
4.1
%
6.5
%
0.2
%
6.7
%
3.4
%
0.3
%
3.7
%
Consumer Electronics
(8.3)
%
0.3
%
(8.0)
%
(6.2)
%
0.3
%
(5.9)
%
(5.8)
%
0.2
%
(5.6)
%
(2.2)
%
0.2
%
(2.0)
%
(5.2)
%
0.3
%
(4.9)
%
Appliances
(18.5)
%
0.3
%
(18.2)
%
(14.9)
%
0.8
%
(14.1)
%
(14.7)
%
0.5
%
(14.2)
%
(11.4)
%
—
%
(11.4)
%
(14.8)
%
0.4
%
(14.4)
%
Entertainment
(11.3)
%
(0.7)
%
(12.0)
%
(7.4)
%
(0.9)
%
(8.3)
%
(18.8)
%
(1.2)
%
(20.0)
%
(10.9)
%
(0.5)
%
(11.4)
%
(11.9)
%
(0.7)
%
(12.6)
%
Services
9.0
%
(6.9)
%
2.1
%
8.5
%
(7.0)
%
1.5
%
6.0
%
(5.2)
%
0.8
%
9.9
%
(4.5)
%
5.4
%
8.4
%
(5.9)
%
2.5
%
Other
18.2
%
(3.8)
%
14.4
%
14.4
%
(1.3)
%
13.1
%
12.9
%
(9.5)
%
3.4
%
18.7
%
(0.7)
%
18.0
%
15.9
%
(3.8)
%
12.1
%
Total
(6.3)
%
—
%
(6.3)
%
(2.3)
%
—
%
(2.3)
%
(2.8)
%
—
%
(2.8)
%
0.2
%
—
%
0.2
%
(2.5)
%
—
%
(2.5)
%
International:
Computing and Mobile Phones
0.7
%
—
%
0.7
%
1.7
%
(0.1)
%
1.6
%
(0.1)
%
(0.1)
%
(0.2)
%
8.5
%
0.2
%
8.7
%
3.4
%
—
%
3.4
%
Consumer Electronics
(6.6)
%
—
%
(6.6)
%
(2.1)
%
—
%
(2.1)
%
(6.1)
%
(0.2)
%
(6.3)
%
(0.7)
%
—
%
(0.7)
%
(3.3)
%
(0.1)
%
(3.4)
%
Appliances
2.0
%
0.3
%
2.3
%
(3.9)
%
0.1
%
(3.8)
%
(8.1)
%
—
%
(8.1)
%
4.9
%
0.2
%
5.1
%
(0.9)
%
0.1
%
(0.8)
%
Entertainment
(22.9)
%
(0.1)
%
(23.0)
%
(20.8)
%
(0.2)
%
(21.0)
%
(18.7)
%
(0.2)
%
(18.9)
%
(3.9)
%
—
%
(3.9)
%
(13.3)
%
(0.1)
%
(13.4)
%
Services
5.0
%
(2.1)
%
2.9
%
5.9
%
—
%
5.9
%
4.0
%
1.6
%
5.6
%
6.2
%
0.9
%
7.1
%
5.3
%
0.2
%
5.5
%
Other
(13.4)
%
4.0
%
(9.4)
%
(20.1)
%
3.7
%
(16.4)
%
(12.7)
%
0.8
%
(11.9)
%
2.4
%
(8.1)
%
(5.7)
%
(11.0)
%
0.5
%
(10.5)
%
Total
(3.3)
%
—
%
(3.3)
%
(1.8)
%
—
%
(1.8)
%
(3.7)
%
—
%
(3.7)
%
3.8
%
—
%
3.8
%
(0.5)
%
—
%
(0.5)
%
Q1 FY26
Q2 FY26
Q3 FY26
Q4 FY26
FY26
As Reported
Change
Reclassified
As Reported
Change
Reclassified
As Reported
Change
Reclassified
As Reported
Change
Reclassified
As Reported
Change
Reclassified
Domestic:
Computing and Mobile Phones
5.8
%
0.3
%
6.1
%
3.8
%
—
%
3.8
%
7.6
%
—
%
7.6
%
5.4
%
—
%
5.4
%
5.7
%
—
%
5.7
%
Consumer Electronics
(5.2)
%
—
%
(5.2)
%
(4.9)
%
(0.3)
%
(5.2)
%
(2.9)
%
(0.1)
%
(3.0)
%
(7.3)
%
(0.2)
%
(7.5)
%
(5.4)
%
(0.1)
%
(5.5)
%
Appliances
(8.1)
%
0.1
%
(8.0)
%
(8.5)
%
(0.7)
%
(9.2)
%
(8.4)
%
(0.4)
%
(8.8)
%
(10.5)
%
(0.3)
%
(10.8)
%
(8.9)
%
(0.4)
%
(9.3)
%
Entertainment
(13.3)
%
(1.9)
%
(15.2)
%
37.5
%
1.8
%
39.3
%
14.0
%
0.4
%
14.4
%
(0.3)
%
(0.3)
%
(0.6)
%
6.8
%
(0.2)
%
6.6
%
Services
0.9
%
(0.3)
%
0.6
%
(1.0)
%
4.7
%
3.7
%
(1.0)
%
2.6
%
1.6
%
4.6
%
(0.6)
%
4.0
%
1.0
%
1.5
%
2.5
%
Other
9.5
%
(12.2)
%
(2.7)
%
(6.3)
%
(12.1)
%
(18.4)
%
(6.5)
%
(8.1)
%
(14.6)
%
(19.5)
%
5.0
%
(14.5)
%
(6.3)
%
(7.0)
%
(13.3)
%
Total
(0.7)
%
—
%
(0.7)
%
1.1
%
—
%
1.1
%
2.4
%
—
%
2.4
%
(0.8)
%
—
%
(0.8)
%
0.4
%
—
%
0.4
%
International:
Computing and Mobile Phones
2.3
%
(0.6)
%
1.7
%
9.5
%
(0.4)
%
9.1
%
9.2
%
(0.3)
%
8.9
%
2.6
%
0.1
%
2.7
%
5.5
%
(0.3)
%
5.2
%
Consumer Electronics
(1.5)
%
(0.2)
%
(1.7)
%
1.3
%
(0.4)
%
0.9
%
3.6
%
(0.2)
%
3.4
%
(2.1)
%
—
%
(2.1)
%
(0.1)
%
(0.2)
%
(0.3)
%
Appliances
(2.1)
%
(0.4)
%
(2.5)
%
(5.7)
%
(0.4)
%
(6.1)
%
(4.1)
%
(0.6)
%
(4.7)
%
(6.8)
%
—
%
(6.8)
%
(5.1)
%
(0.3)
%
(5.4)
%
Entertainment
(17.7)
%
(0.2)
%
(17.9)
%
57.3
%
0.2
%
57.5
%
11.3
%
—
%
11.3
%
(14.8)
%
—
%
(14.8)
%
(0.6)
%
—
%
(0.6)
%
Services
2.2
%
6.8
%
9.0
%
2.2
%
8.5
%
10.7
%
3.9
%
6.3
%
10.2
%
9.8
%
0.2
%
10.0
%
5.2
%
4.8
%
10.0
%
Other
(7.9)
%
(5.3)
%
(13.2)
%
6.5
%
(13.6)
%
(7.1)
%
3.3
%
(7.4)
%
(4.1)
%
(24.2)
%
6.1
%
(18.1)
%
(6.3)
%
(5.1)
%
(11.4)
%
Total
(0.7)
%
—
%
(0.7)
%
7.6
%
—
%
7.6
%
6.3
%
—
%
6.3
%
(1.3)
%
—
%
(1.3)
%
2.3
%
—
%
2.3
%
(1) The method of calculating comparable sales varies across the retail industry. As a result, the Company's method of calculating comparable sales may not be the same as other retailers’ methods. For additional information on comparable sales, please see the Company's most recent Annual Report on Form 10-K, and subsequent Quarterly Reports on Form 10-Q, filed with the Securities and Exchange Commission, and available at www.investors.bestbuy.com.
4
Mentions · how they’re counted
| Category | Underlined | Word counter | Model’s count |
|---|---|---|---|
| AI AI, artificial intelligence, generative AI, machine learning, large language model, LLM | 0 | 0 | 0 |
| Layoffs layoffs, RIF, headcount reduction, workforce optimization, restructuring | 0 | — | 0 |
| Recession recession, downturn, contraction, slowdown | 0 | 0 | 0 |
| Tariffs tariff, trade war, trade barriers, trade restrictions, trade policy | 0 | 0 | 0 |
| Buybacks share repurchase, buyback program | 0 | — | 0 |
Underlines use the same word lists the scores use. AI, recession and tariffs follow Palanor’s word counter, so those counts match it exactly on the same text. Layoffs and buybacks use the terms the model was given. The model’s count is an estimate by meaning, not by string, so it can differ from the underlines.
Source: SEC EDGAR · public domain · Highlights by Palanor