Best Buy Co., Inc. (NYSE: BBY) is setting its financial target for fiscal year 2025 and estimates enterprise revenue of $50 billion, its current fiscal 2020 guidance is $43.1 billion to $43.6 billion.
The company announced non-GAAP operating income rate of 5%, which compares to the company's current fiscal 2020 guidance of flat to slightly up from fiscal 2019's 4.6%.
The next phase of Best Buy’s strategy involves building the New Blue: Chapter Two.
"Our Building the New Blue strategy is the right one, and it's working," said CEO Corie Barry. "We are excited about what we have accomplished so far, and we believe we will continue to enrich our customers' lives through technology and unlock profitable growth as we execute on the next chapter of this strategy."
Best Buy shares were trading up 0.41% at $67.99 in Wednesday’s pre-market session. The stock has a 52-week high of $80.42 and a 52-week low of $47.72.
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