Best Buy: raises annual EPS targets
(CercleFinance.com) - On its quarterly earnings call, Best Buy announced that it now anticipates adjusted EPS of $6.
10 to $6.35 (up from $5.75 to $6.20), and an adjusted operating margin of 4.1% to 4.2% (against 3.9% to 4.1%) for its current fiscal year.
However, the consumer electronics chain has reduced its revenue target range to between $41.3bn and $41.9bn (from $41.3bn to $42.6bn), with a comparable decline of 3% to 1.5% now expected.
Q2 adjusted EPS rose by 10% to $1.34, while its adjusted operating margin improved by 0.3 point to 4.1% on revenues of $9.29bn, down 2.3% on a comparable basis.
We recorded excellent performances in our tablet and home computer categories, which posted comparable sales growth of 6% y-o-y, management says.
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10 to $6.35 (up from $5.75 to $6.20), and an adjusted operating margin of 4.1% to 4.2% (against 3.9% to 4.1%) for its current fiscal year.
However, the consumer electronics chain has reduced its revenue target range to between $41.3bn and $41.9bn (from $41.3bn to $42.6bn), with a comparable decline of 3% to 1.5% now expected.
Q2 adjusted EPS rose by 10% to $1.34, while its adjusted operating margin improved by 0.3 point to 4.1% on revenues of $9.29bn, down 2.3% on a comparable basis.
We recorded excellent performances in our tablet and home computer categories, which posted comparable sales growth of 6% y-o-y, management says.
Copyright (c) 2024 CercleFinance.com. All rights reserved.