Best Buy’s Comparable Sales Growth (2016-2022)

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This statistic highlights Best Buy’s Comparable Sales Growth, split across Domestic Sales, Enterprise Sales, International Sales, and Online Sales, reported on a quarterly basis from Q1 2016 onwards.
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This statistic highlights Best Buy’s Comparable Sales Growth, split across Domestic Sales, Enterprise Sales, International Sales, and Online Sales, reported on a quarterly basis from Q1 2016 onwards.

Best Buy’s Comparable Sales Growth

Best Buy Corporation is a part of the Fortune 500 list and is one of the biggest consumer electronics retailers in the world. The company functions in multinational retailing that sell product and services through its main channels which are retail stores, online websites, and Call Centers.

The following table highlights Best Buy’s Comparable Sales Growth in some of its recent quarters.

Comparable Sales Growth Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022
Domestic – Comparable Sales Change (%) -5.7 5.0 22.6 12.4 37.9 20.8
Enterprise Comparable Sales (%) -5.3 5.8 23.0 1,265.0 37.2 19.6
Intl. – Comparable Sales Change (%) 0.2 15.1 27.3 14.9 27.8 5.0
Online Sales – Domestic (%) 7.6 242.2 18.7 7.6 -28.1
Total -3.2 268.1 72.9 1,311.0 110.5 17.3

 (All figures in percentages)

The minus sign in the tables represents comparable sales decline. The company has witnessed drastic changes in comparable sales growth. The most noticeable growth in Q4 2021 of 1,311%, through sales through enterprise. There has also been a decline in comparable sales in Q1 2021 by 3.2%, through domestic and enterprise sales.

The metric that the company’s management uses to evaluate the performance of the stores, websites, and call centers is Comparable Sales. This is done by measuring the variations in net sales for a particular period over the comparable prior period of the same length. Comparable sales constitute revenue from the call centers, websites, and stores that function for at least 14 complete months.

The following factors are included for the calculation of comparable sales:

  • Acquisitions begin with the first full quarter till the first-year completion of the acquisition.
  • Credit card revenue
  • Gift card breakage
  • Commercial sales and merchandise sales to wholesalers and dealers
  • Online Sales initiated on a website or app.

The following factors are excluded for the calculation of comparable sales:

  • Stores closed for more than 14 days. (This includes but is not limited to relocation, remodel, expanded and downsized stores)
  • Stores impacted by natural disasters.
  • Impact of revenue from stores with discontinued operations
  • Effect of fluctuation in exchange rates of foreign currency.

The following irregularities have also reportedly affected the Comparable sales report:

  • After the outbreak of the COVID-19 pandemic in March 2020, All the stores which were temporarily closed or operating a curbside-only operating model are included in comparable sales.
  • On November 24, 2020, after the announcement of the exiting company’s operations in Mexico, all revenue from Mexico operations has been excluded from the calculations beginning in December 2021.
  • On March 1, 2018, after the announcement of the intent close of 257 Best Buy Mobile stores in the United States, all the revenue related to these stores are excluded from the comparable sales.

About the Company

Best Buy Co. Inc. is a retail company specializing in sales of electronic products and services which was established in the United States but also operates in Canada and Mexico. Richard M. Schulze established the company in 1966 and it is headquartered in Richfield, Minnesota, United States. The company has over 150,000 employees and a total of 1,159 stores worldwide. The common stock of the company is traded in New York Stock Exchange (“NYSE”) under the ticker symbol “BBY”. It is one of the biggest consumer electronics retailers in the world and offers a wide range of merchandise and services to its consumers. These include consumer electronic devices, appliances, mobile phones, computing devices, and other products. The company operates through retail offices, call centers, online websites, in-home solutions, and delivery of the product at consumers’ doorsteps.

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