Best Buy's Q1 revenue was $8.85 billion, down 6.5% year-on-year

It is learned that on May 30, Best Buy, an American retail giant, released its first quarter financial report for fiscal year 2025. As of May 4 , Best Buy's first quarter revenue was US$8.85 billion, a year-on-year decrease of 6.5%.

Here's a summary of Best Buy's first-quarter financial results:

Revenue was $8.85 billion, down 6.5% year-on-year

Net profit was $246 million, compared with $244 million in the same period last year

U.S. domestic sales were $8.2 billion, down 6.8% year-over-year

Online sales fell 6.1% and accounted for 30.8% of U.S. sales, up slightly from 30.5% in the same period last year.

International sales were $6.44 million, down 3.3% year-on-year

Best Buy CEO Corie Barry said Best Buy's overall sales fell in the first quarter, mainly due to consumers reducing their budgets for non-essential products. In the U.S. business, sales of home appliances (down 18.5%), entertainment (down 11.3%) and consumer electronics (down 8.3%) fell the most.

Service categories such as membership services helped improve profits in the U.S. business, with gross profit rising to 23.4% from 22.6% in the same period last year , and profitability was better than expected. Barry said that in the future, Best Buy plans to strengthen its position in key categories such as computers, home theaters and major appliances through differentiated experiences, targeted marketing spending and competitive pricing.

Looking ahead, Best Buy expects comparable sales to fall by about 3% in the second quarter. For fiscal 2025, full-year revenue is expected to be between $41.3 billion and $42.6 billion, with comparable sales expected to fall by 3% or remain stagnant.

Author ✎ Rayna/

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