WASHINGTON (dpa-AFX) - While reporting financial results for the fourth quarter on Tuesday, electronics retailer Best Buy Co., Inc. (BBY) initiated its adjusted earnings, revenue and comparable sales guidance for the full-year 2027.
For fiscal 2027, the company now projects adjusted earnings in a range of $6.30 to $6.60 per share on revenues between $41.2 billion and $42.1 billion, with a comparable sales change between a decline of 1.0 percent and a growth of 1.0 percent.
The company also said it expects comparable sales growth of approximately 1 percent and an adjusted operating income rate of approximately 3.9 percent.
The company also announced its board of directors approved a 1 percent increase in the regular quarterly dividend to $0.96 per share, payable on April 14, 2026, to shareholders of record as of the close of business on March 24, 2026.
The company said it expects to spend approximately $300 million on share repurchases during fiscal 2027.
For the fourth quarter, Best Buy reported net earnings of $541 million or $2.56 per share, sharply higher than $117 million or $0.54 per share in the prior-year quarter. Excluding items, adjusted earnings for the quarter was $2.61 per share, compared to $2.58 per share in the year-ago quarter.
Revenues for the quarter edged down to $13.81 billion from $13.95 billion in the same quarter last year. Comparable sales decreased 0.8 percent, compared to a 0.5 percent growth last year.
In Tuesday's pre-market trading, TGT is trading on the NYSE at $70.47, up $8.88 or 14.42 percent.
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