Best Buy Initiates FY25 Financial Targets - Quick Facts

(RTTNews) - Electronics retailer Best Buy Co., Inc. (BBY) on Wednesday provided its long-term financial outlook for the full-year 2025. The big-box retailer is also set to host an investor update later in the day to outline the next phase of the company's strategy, called Building the New Blue: Chapter Two.

The company's executives will also provide a closer look at key growth initiatives, including Best Buy Health and an ongoing supply chain transformation.

Looking ahead to fiscal 2025, the company projects enterprise revenue of $50 billion, which compares to the company's current fiscal 2020 guidance of $43.1 billion to $43.6 billion.

Adjusted operating income rate is set at 5.0 percent for the year, which compares to the company's current fiscal 2020 guidance of flat to slightly up from fiscal 2019's 4.6 percent adjusted operating income rate.

Additionally, the company expects $1 billion of additional cost reductions and efficiencies.

Best Buy Chief Financial Officer Matt Bilunas commented, "In this next chapter, our focus continues to be top-line growth. We also believe the initiatives we will outline today, along with a continued focus on cost reductions, will result in operating income rate expansion over the five-year timeframe."