Best Buy sales slip despite profit surge

Best Buy shares jumped 11% to $68.39 in premarket trading after the retailer reported stronger-than-expected quarterly earnings and a return to positive same-store sales in 2026.

The company posted fourth-quarter profit of $541 million, up from $117 million a year earlier. 

Adjusted earnings came in at $2.61 per share, beating analyst estimates of $2.46. Revenue slipped to $13.81 billion from $13.95 billion, missing forecasts of $13.87 billion.

Same-store sales fell 0.8%, compared with expectations for a 0.1% rise.

Best Buy said shoppers remain cautious about big-ticket purchases and continue hunting for value. However, demand stayed strong for computing, mobile phones, AI glasses, 3D printers, and gaming consoles.

Looking ahead, the company projected revenue of $41.2 billion to $42.1 billion and adjusted earnings per share of $6.30 to $6.60 for the 2027 fiscal year. It expects weaker sales and also raised its quarterly dividend 1% to 96 cents, offering a 6.2% annual yield.