Best Buy Q1 revenue up 1.9% to $8.9B; operating margin jumps to 4.1% on lower restructuring

Filed June 5, 2026 · Period ending May 2, 2026 · Compared to 10-Q Jun 6, 2025 · ~2 min read

Key Changes

• high

  Operating margin expanded 160 basis points to 4.1% from 2.5%, driven by a $118M favorable swing in restructuring charges (from $109M charge to $9M credit). Diluted EPS rose 38% to $1.31.

  MD&A: Operating Income verify on EDGAR →
• high

  Supreme Court ruled certain IEEPA tariffs unauthorized; Best Buy participating in CBP refund process but recognized no amounts in Q1 due to legal and administrative uncertainty around timing and magnitude.

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

  Comparable sales grew 2.0% (vs. -0.7% prior year), led by gaming (38.1%), computing, and mobile phones. Domestic gross margin improved 20 bps to 23.7% on marketplace and advertising revenue growth.

  MD&A: Revenue & Margins verify on EDGAR →