Best Buy - Fiscal 2008 Annual Report
 

Financial highlights

(U.S. dollars in millions, except per share amounts)
Fiscal 2008  
Fiscal 2007 (1)
Fiscal 2006  
 
Revenue
$40,023
$35,934
$30,848
Comparable store sales % gain
2.9%
5.0%
4.9%
Gross profit as % of revenue
23.9%
24.4%
25.0%
SG&A as % of revenue
18.5%
18.8%
19.7%
Operating income as % of revenue
5.4%
5.6%
5.3%
Net earnings
$ 1,407
$ 1,377
$ 1,140
Diluted earnings per share
$3.12
$ 2.79
$ 2.27
 
Cash, cash equivalents and short-term investments
$ 1,502
$ 3,793
$ 3,789
Debt-to-capitalization ratio (3)
15%
9%
10%
Cash dividends per share declared and paid
$ 0.46
$ 0.36
$ 0.31
Value of common shares repurchased
$ 3,461
$ 599
$ 772
 
Total retail square footage (in thousands) (3) (4)
48,580
43,511
35,526
Number of stores (at period end)
     Best Buy — U.S.
923
822
742
     Pacific Sales (acquired in fiscal 2007)
19
14
-
     Magnolia Audio Video
13
20
20
     Best Buy Mobile (stand-alone) — U.S.
9
5
-
     Geek Squad (stand-alone) — U.S.
7
12
12
     Future Shop
131
121
118
     Best Buy — Canada
51
47
44
     Geek Squad (stand-alone) — Canada
-
-
5
     Five Star (5) (acquired in fiscal 2007)
160
135
     Best Buy (5) — China
1
1
 


(1) Fiscal 2007 included 53 weeks. All other periods presented included 52 weeks
(2) Represents total debt (including current portion of long-term debt) divided by total capitalization (total debt + total shareholders’ equity)
(3) Represents total square footage of our stores at the end of each fiscal year
(4) Retail square footage for fiscal 2007 and 2006 have been adjusted to report all square footage on a gross basis
(5) Store count on December 31, 2007. China results are reported on a two-month lag basis.