Best Buy Co., Inc. (NYSE: BBY) today announced results for the 13-week fourth quarter (“Q4 FY13”) and 53-week fiscal year ended February 2, 2013 (“FY13”), as compared to the 13-week fourth quarter (“Q4 FY12”) and the 52-week fiscal year ended January 28, 2012 (“FY12”). In FY13, the extra week occurred during the first quarter.
|Overview ($ in millions, except per share amounts)||Q4 FY13||Q4 FY12|
|Comparable store sales % change 1||(0.8%)||(1.3%)|
|Comparable store sales % change 1||0.9%||(1.1%)|
|Comparable store sales % change 1||(6.6%)||(1.8%)|
|Adjusted (non-GAAP) operating income as a % of revenue 2||5.5%||7.2%|
|GAAP operating loss as a % of revenue||(0.9%)||(0.7%)|
|Adjusted (non-GAAP) diluted EPS from continuing operations 2||$1.64||$2.18|
|GAAP EPS from continuing operations||($1.21)||($4.86)|
|Adjusted (non-GAAP) return on invested capital 3||9.2%||11.0%|
|Please see the table titled “Reconciliation of Non-GAAP Financial Measures” attached to this release for more detail.|
Hubert Joly, Best Buy President and CEO commented, “On revenue growth of 0.2%, we delivered non-GAAP diluted earnings per share of $1.64. Adjusted free cash flow for the year reached $965 million as we aggressively reduced inventories and focused on working capital and cash flow management. To deliver these better-than-expected results, renewed momentum in the Domestic business more than offset continued softness in the International business.”
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