Best Buy Q1 revenue up 1.9% to $8.9B; operating margin expands to 4.1% as restructuring reversal offsets lower product margins

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

Key Changes

• high

  Operating income rose 69% to $370M (4.1% margin vs 2.5% prior year), driven by a $9M restructuring charge reversal related to labor/store optimization adjustments, partially offset by lower product margin rates.

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

  Company participating in U.S. Customs refund process for tariffs paid under IEEPA (ruled unauthorized by Supreme Court), but recognized no refund amounts due to legal and administrative uncertainty.

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

  Comparable sales turned positive at +2.0% (vs -0.7% prior year), led by gaming (+38.1% Domestic Entertainment category), computing, and mobile phones; appliances declined.

  MD&A: Revenue & Comparable Sales verify on EDGAR →