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- Departure of CEO (new) — CEO Corie Barry is departing, with Jason Bonfig becoming CEO effective November 1, 2026.
Best Buy raises FY27 guidance on 4.1% Q2 comp growth; CEO transition set for November
Filed August 27, 2026 · Period ending August 27, 2026 · ~1 min read
Key Changes
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Jason Bonfig to become CEO effective November 1, 2026, succeeding Corie Barry in planned leadership transition.
Exhibit 99 view on EDGAR → -
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Q2 FY27 revenue $9.78B with 4.1% comparable sales growth; adjusted diluted EPS $1.47 (up 70% YoY), driven by computing, home theater, and emerging categories.
Exhibit 99 view on EDGAR → -
high
Full-year FY27 guidance raised: revenue now $42.3B-$42.8B (from $41.2B-$42.1B), comparable sales +1.9% to +3.0% (from -1.0% to +1.0%), adjusted EPS $6.70-$6.90 (from $6.30-$6.60).
Exhibit 99 view on EDGAR → -
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Domestic gross profit rate expanded to 24.0% from 23.4%, benefiting from Marketplace and Best Buy Ads growth plus ~$34M in IEEPA tariff refunds.
Exhibit 99 view on EDGAR → -
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board declared $0.96 quarterly dividend payable October 8, 2026.
Exhibit 99 view on EDGAR →
Summary
Best Buy reported strong Q2 FY27 results with 4.1% comparable sales growth and raised full-year guidance across revenue, comparable sales, and earnings. The company now expects FY27 revenue of $42.3B-$42.8B (up from $41.2B-$42.1B) and adjusted EPS of $6.70-$6.90 (up from $6.30-$6.60), reflecting momentum across computing, home theater, and emerging categories like AI glasses.
Gross margin expansion to 24.0% was driven by higher-margin Marketplace and Best Buy Ads revenue plus $34M in tariff refunds. The filing also disclosed a CEO transition: Jason Bonfig, currently Chief Customer, Product and Fulfillment Officer, will succeed Corie Barry as CEO on November 1, 2026. Barry's departure represents a planned leadership change as the company executes on its growth strategy.
The timing—announced alongside strong results and raised guidance—suggests an orderly succession, though investors will watch for continuity in strategic priorities under new leadership. Best Buy returned $239M to shareholders in Q2 through dividends and buybacks, with $300M in repurchases expected for the full year. The board declared a $0.96 quarterly dividend payable in October. The combination of accelerating sales growth, margin expansion, and increased capital returns reflects improved operating momentum, though the CEO transition adds a layer of execution risk to monitor through year-end.
Section-by-Section Diff
Event · Item 2.02 — Results of Operations and Financial Condition
Best Buy disclosed Q2 FY2026 earnings results (quarter ended August 1, 2026) via press release and scheduled earnings call.
Added in current filing · verify on EDGAR →
On August 27, 2026, Best Buy Co., Inc. (“Best Buy” or the “registrant”) issued a news release announcing its results of operations for the second quarter ended August 1, 2026.
Best Buy announced financial results for its fiscal second quarter ended August 1, 2026. The 8-K itself does not contain the actual financial figures — those are in the attached Exhibit 99 press release, which was not provided in this section.
Added in current filing · verify on EDGAR →
The registrant is scheduled to conduct an earnings conference call at 8:00 a.m. Eastern Time (7:00 a.m. Central Time) today, August 27, 2026. The earnings conference call is expected to be available live on the registrant’s website at https://investors.bestbuy.com.
Best Buy scheduled an earnings conference call for 8:00 a.m. ET on August 27, 2026, accessible via live webcast on the investor relations website. This is a standard practice for public companies to discuss quarterly results with analysts and investors.
Event · Exhibit 99
Best Buy reported Q2 FY27 results with 4.1% comparable sales growth, raised full-year guidance, and announced CEO transition effective November 1, 2026.
Added in current filing · view on EDGAR →
Enterprise $ 9,779 $ 9,438 ... Enterprise comparable sales % change1 4.1 % 1.6 % D ... iluted EPS $ 1.48 $ 0.87 Adjusted diluted EPS $ 1.47 $ 1.28
Best Buy reported Q2 FY27 revenue of $9,779 million (up from $9,438 million prior year), with enterprise comparable sales growth of 4.1% (versus 1.6% prior year). Diluted EPS increased 70% to $1.48 from $0.87, while adjusted diluted EPS rose 15% to $1.47 from $1.28. The company cited growth across almost all major product categories and strong performance in Best Buy Ads and Marketplace initiatives.
Added in current filing · view on EDGAR →
•Revenue of $42.3 billion to $42.8 billion, compared to prior guidance of $41.2 billion to $42.1 billion •Comparable sales % change1 of 1.9% to 3.0%, compared to prior guidance of (1.0%) to 1.0% •Adjusted operating income rate2 of 4.4% to 4.5%, compared to prior guidance of 4.3% to 4.4% •Adjusted ... diluted EPS2 of $6.70 to $6.90, compared to prior guidance of $6.30 to $6.60
Best Buy raised its full-year FY27 guidance significantly. Revenue guidance increased to $42.3-$42.8 billion from $41.2-$42.1 billion. Comparable sales guidance moved from -1.0% to +1.0% up to +1.9% to +3.0%. Adjusted diluted EPS guidance rose to $6.70-$6.90 from $6.30-$6.60. Management attributed the raise to strong first-half performance and momentum entering the second half.
Added in current filing · view on EDGAR →
“The strength of our Q2 results reflects both the deliberate actions we have taken to position the business for growth and a healthy demand environment for our category,” said Jason Bonfig, Best Buy Chief Customer, Product and Fulfillment Officer, and incoming CEO (effective November 1, 2026).
Jason Bonfig, currently Chief Customer, Product and Fulfillment Officer, will become CEO effective November 1, 2026, succeeding Corie Barry. Barry's comments indicate she is wrapping up her tenure in the coming months. This represents a planned leadership transition at the executive level.
Added in current filing · view on EDGAR →
Domestic revenue of $9.07 billion increased 4.3% versus last year, primarily driven by comparable sales growth of 4.5%. From a category perspective, the company generated comparable sales growth across most of its categories, with the largest drivers on a weighted basis being computing, home theater, and a collection of emerging categories such as AI glasses and trading cards. ... Domestic gross profit rate was 24.0% versus 23.4% last year. The higher gross profit rate was primarily driven by growth in Marketplace and Best Buy Ads, and IEEPA tariff refunds of approximately $34 million.
The Domestic segment delivered $9.07 billion in revenue with 4.5% comparable sales growth, driven by computing, home theater, and emerging categories like AI glasses and trading cards. Gross profit rate expanded to 24.0% from 23.4%, benefiting from Marketplace and Best Buy Ads growth plus approximately $34 million in IEEPA tariff refunds. Online revenue grew 5.1% on a comparable basis.
Added in current filing · view on EDGAR →
In Q2 FY27, the company returned a total of $239 million to shareholders through dividends of $203 million and share repurchases of $36 million. On a year-to-date basis, the company has returned a total of $441 million to shareholders through dividends of $405 million and share repurchases of $36 million. The company expects to spend approximately $300 million on share repurchases during FY27. Today, the company announced its board of directors has authorized the payment of a regular quarterly cash dividend of $0.96 per common share. The regular quarterly dividend is payable on October 8, 2026, to shareholders of record as of the close of business on September 17, 2026.
Best Buy returned $239 million to shareholders in Q2 FY27 ($203 million dividends, $36 million buybacks) and $441 million year-to-date ($405 million dividends, $36 million buybacks). The company expects approximately $300 million in share repurchases for the full year. The board declared a regular quarterly dividend of $0.96 per share, payable October 8, 2026.
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Figures/quotes linked to EDGAR · Narrative written by AI · Aug 28, 2026 · How we verify