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Best Buy Announces Holiday Revenue Results

(2) Share gain is determined by reference to information from The NPD Group and other industry sources. According to The NPD Group’s POS Weekly Tracking Service, revenue for the CE industry was down 2.4% during the nine weeks ended January 4, 2014 compared to the same nine-week period ending January 5, 2013. The CE industry, as defined by The NPD Group, includes TVs, desktop and notebook computers, tablets not including Kindle, digital imaging and other categories. It does not include mobile phones, gaming, movies, music, appliances or services.

Forward-Looking and Cautionary Statements:

This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 as contained in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 that reflect management’s current views and estimates regarding future market conditions, company performance and financial results, business prospects, new strategies, the competitive environment and other events. You can identify these statements by the fact that they use words such as “anticipate,” “believe,” ”assume,” “estimate,” “expect,” “intend,” “project,” “guidance,” “plan,” “outlook,” and other words and terms of similar meaning. These statements involve a number of risks and uncertainties that could cause actual results to differ materially from the potential results discussed in the forward-looking statements. Among the factors that could cause actual results and outcomes to differ materially from those contained in such forward-looking statements are the following: general economic conditions, changes in consumer preferences, credit market changes and constraints, customer privacy and data security incidents, acquisitions and development of new businesses, divestitures and dispositions, product availability, sales volumes, pricing actions and promotional activities of competitors, profit margins, weather, natural or man-made disasters, changes in law or regulations, foreign currency fluctuation, availability of suitable real estate locations, the company’s ability to react to a disaster recovery situation, the impact of labor markets and new product introductions on overall profitability, failure to achieve anticipated expense and cost reductions from operational changes, failure to achieve anticipated benefits of announced transactions, integration challenges relating to new ventures and unanticipated costs associated with previously announced or future restructuring activities. A further list and description of these risks, uncertainties and other matters can be found in the company’s annual report and other reports filed from time to time with the Securities and Exchange Commission (“SEC”), including, but not limited to, Best Buy’s Transition Report on Form 10-K filed with the SEC on March 27, 2013. Best Buy cautions that the foregoing list of important factors is not complete, and any forward-looking statements speak only as of the date they are made, and Best Buy assumes no obligation to update any forward-looking statement that it may make.

 
BEST BUY CO., INC.
REVENUE CATEGORY SUMMARY
(Unaudited and subject to reclassification)
       
Domestic Segment Summary
Revenue Mix Summary Comparable Store Sales
Nine Weeks Ended Nine Weeks Ended
Jan 4, 2014 Jan 5, 2013 Jan 4, 2014 Jan 5, 2013
Consumer Electronics 1 32% 33% (6.0%) (6.8%)
Computing and Mobile Phones 1 46% 45% 3.2% 12.1%
Entertainment 12% 13% (6.6%) (17.8%)
Appliances 5% 4% 16.9% 10.7%
Services 2 4% 4% (0.9%) (3.1%)
Other 1% 1% n/a n/a
Total 100% 100% (0.9%) 0.0%
 
 
 
International Segment Summary
Revenue Mix Summary Comparable Store Sales
Nine Weeks Ended Nine Weeks Ended
Jan 4, 2014 Jan 5, 2013 Jan 4, 2014 Jan 5, 2013
Consumer Electronics 1 31% 34% (8.5%) (15.3%)
Computing and Mobile Phones 1 40% 38% 4.8% (2.8%)
Entertainment 12% 12% 2.4% (16.0%)
Appliances 13% 12% 6.2% (12.3%)
Services 2 4% 4% (1.2%) (10.6%)
Other <1% <1% n/a n/a
Total 100% 100% 0.1% (10.3%)
 

(1) During the first quarter of fiscal 2014, e-Readers were moved from the "Consumer Electronics" revenue category to "Computing and Mobile Phones" to reflect the continued convergence of their features with tablets and other computing devices.

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