百思买 2025年度报告

Fiscal 2026Annual Report CEO Corie BarryA message from Dear fellowshareholders, For each of the past seven years, it has been anhonor to write this letter, highlighting our results andprogress from the past year and sharing our vision forthe year ahead. This year is no different, and I am excited to sharewith you the momentum we’ve created in fiscal 2026and where our focus will be in fiscal 2027. But first,it is because of this momentum that on April 22,we announced I will be stepping down as CEO andas a member of the Best Buy Board of Directors onOctober 31, 2026. I strongly believe in lining up thetiming of decisions like these, and I am immenselyproud that now is the right time for the company, andfor me and my family, to transition to the next leader. At the beginning of the year, we outlined our threepriorities, and I am pleased to share our progress oneach. On that note, I am thrilled the Board has selectedJason Bonfig, our Chief Customer, Product andFulfillment Officer, as the next CEO. I’ve workedwith Jason for years and am confident he’s the rightperson, with the right vision to build off the incrediblemomentum we’ve created, accelerate our strategyand grow the business with increased speed,innovation and focus on our customers – especiallyas artificial intelligence (AI) continues to change theworld around us. 1.Drive omnichannel experience improvementsthat resonate with our customers. In fiscal 2026, we further strengthened our in-store customer experience by partnering withmultiple key vendors to expand their investmentin immersive merchandising areas as well asexpert labor. We additionally leveraged the useof new technology in many areas to elevatecustomer experience and drive efficiencies,including faster online shipping and deliveryspeeds and better customer support capabilities. We have a strong foundation in place for thistransition, and there’s much to celebrate about theprogress we’ve made in our strategy – to strengthenour position in retail as a leading omnichanneldestination for technology, while at the same timebuilding and scaling new profit streams that willdrive returns in the future. Most notably, we achievedpositive comparable sales for the full fiscal year forthe first time since fiscal 2022, as well as expandedour profit margins, a true testament to our teams’talent and resilience. 2.Launch and scale incremental profit streams,including Best Buy Marketplace andBest Buy Ads. The successful launch of our U.S. digitalMarketplace in the third quarter of fiscal 2026 hasenabled customers to shop more than 10X thenumber of unique products than we previouslycarried, including categories complementary to our core assortment. With more than 1,100 sellersand ongoing growth, Marketplace also fuelsBest Buy Ads by unlocking new partnershipopportunities and increased traffic. Priorities for the year ahead We are well-positioned to build upon this momentumas we enter fiscal 2027. Best Buy Ads also saw sustained growth,including almost doubling the number ofadvertising partners compared to the prior year.Together, we expect the investments we’remaking in these incremental profit streams tocontinue to fuel additional growth opportunitiesin our core business. Most notably, this year marks our 60th anniversaryas a company. This milestone serves as a remarkablereminder of our steadfast history, adaptability in theface of adversity and commitment to continued andbold evolution of our business, while keeping ourcustomers and our values at the heart of our work. Innovation, boldness and speed, alongside our fourcore values — including learning from challenge andchange — are trademarks of our longstanding history.As we look at the year ahead, we are reinvigorated bythis foundation and driven to continue to evolve as aretail and media company. 3.Drive operational effectiveness and efficiency tofund strategic investments and offset pressures. We were able to both make the necessaryinvestments in our Marketplace and Adsinitiatives and expand our Enterprise operatingmargin through a combination of disciplinedexpense management and efficiencyoptimization efforts. We are optimistic that continued, unprecedentedinnovation will drive consumer demand. This includescontinued AI enhancements in consumer electronicsand exciting new RGB technology in TVs. In addition, Best Buy returned $1.1 billion toshareholders through share repurchases anddividends in fiscal 2026. Demonstrating ourcommitment to being a premium dividend payer, theCompany increased its quarterly dividend to $0.96per share in fiscal 2027. We are proud to have raisedour quarterly dividend for 13 consecutive years. As we’ve consistently shown, Best Buy is at ourbest when we pair innovative, new technology withour differentiated ability to understand and servecustomers in a very personal way. Our competitiveadvantage and the moment when our model shinesis when we humanize new technology for customersand help solve for what the cus