Best Buy returns to sales growth, scales Marketplace and Ads, but tariff refunds uncertain

Filed March 18, 2026 · Period ending January 31, 2026 · Compared to 10-K Mar 19, 2025 · ~2 min read

Key Changes

• high

  Comparable sales grew 0.5% in FY2026 after declining 2.3% in FY2025, driven by computing and mobile phones. Revenue reached $41.7B, up from $41.5B, marking an inflection from multi-year declines.

  MD&A: Comparable Sales verify on EDGAR →
• high

  Supreme Court ruled IEEPA tariffs unauthorized in February 2026, but refund timing and recoverability remain uncertain. Company's supply chain heavily dependent on imports from China, Mexico, and Southeast Asia.

  MD&A: Tariff Developments verify on EDGAR →
• high

  Best Buy Marketplace launched in FY2026, generating commission and advertising revenue without inventory investment. Company plans to expand seller count and invest in technology and advertising in FY2027.

  MD&A: Marketplace Launch verify on EDGAR →