Best Buy’s sales growth online outpaced growth at stores as the retail chain reported a 0.5% boost in comparable sales for its fiscal Q4 2025, which ended Feb. 1. The company credited strong demand for computing, tablets and services.
Meanwhile, Best Buy U.S. online sales in Q4 climbed 2.6% year-over-year, with ecommerce accounting for 39.5% of total revenue, up from 38% last year.
“In our digital business, our focus on personalization and speed resulted in app engagement and sales growth,” CEO Corie Barry said during the company’s March 4 earnings call.
Best Buy’s earnings arrived as U.S. tariffs on Canadian and Mexican imports underwent a series of rapid changes. The 25% tariffs took effect on March 4 — the same day Best Buy reported earnings — but were partially paused by the Trump administration two days later. Barry warned that sustained tariffs at these levels “will result in price increases.”
Best Buy ranks No. 8 in the Top 2000. The database is Digital Commerce 360’s ranking of the largest North American online retailers by their annual ecommerce sales. Best Buy falls under the Consumer Electronics category. Digital Commerce 360 projects Best Buy’s ecommerce sales in 2025 will reach $12.04 billion.
Deal-focused shoppers, digital engagement drive Best Buy’s Q4 online sales growth
Best Buy said deal-conscious shoppers helped drive sales in Q4, with early Black Friday promotions and Doorbusters giving the retailer a strong start to the holiday season, which had fewer shopping days between Black Friday and Christmas.
Digital channels played a key role, with the Best Buy app ranking No. 1 among shopping apps on the Apple App Store on Black Friday and seeing nearly 20% traffic growth, Barry said.
“We had very competitive fulfillment options, offering our online customers on average a 10% faster promise for delivery this year,” she said.
In-store pickup remained popular, accounting for 45% of online revenue during the quarter, she added.
Best Buy also tested new targeted promotions, driving engagement across all tiers of its My Best Buy membership program. The retailer now boasts approximately 100 million members across its three membership tiers:
- Its free My Best Buy membership
- Best Buy Plus
- Best Buy Total.
Paid memberships grew to nearly 8 million by year-end, up from 7 million last year, Barry said.
Overall, comparable sales in Q4 2025 rose 0.5% from Q4 2024. For the full year, comparable sales declined 2.3% year over year. U.S. online comparable sales declined 0.8% for the full year, the company reported. The figures excluded the impact of an extra week in fiscal 2024, as FY25 had 52 weeks compared to 53 weeks in FY24.
Best Buy’s fiscal 2026 guidance and tariff uncertainty
For fiscal 2026, the retailer expects comparable sales growth of 0% to 2%, falling in line with analysts’ estimates.
“As we enter FY26, we believe consumer behavior will be largely similar to last year — remaining resilient but still dealing with high inflation that is driving expenses up across their lives, making them value focused and thoughtful about big-ticket purchases,” said Matt Bilunas, chief financial officer at Best Buy, in a public statement.
Management cautioned that the forecast does not factor in any potential tariff-related impacts.
During the earnings call, Barry said that while Best Buy directly imports only 2% to 3% of its assortment, vendors across its supply chain are likely to pass increased costs onto retailers, making price hikes for U.S. consumers “highly likely.”
China and Mexico remain the top two sources for Best Buy’s product assortment, she added.
A new 10% tariff on Chinese imports went into effect on March 4, stacking on top of the 10% duty implemented by the Trump administration on Feb. 4.
Best Buy’s initial analysis suggests that if the 10% China tariffs remained in place for the full year, they could reduce comparable sales by about one percentage point, Barry said.
Best Buy’s growth strategy moves forward
Despite uncertainty around tariffs, Best Buy is pressing ahead with its fiscal 2026 growth strategy.
Best Buy’s key priorities include enhancing the omnichannel experience, Barry said. One major initiative is Best Buy Marketplace, a third-party seller platform slated to launch in mid-2025. The marketplace will allow external sellers to list products on Best Buy’s platform, adopting a model similar to Amazon and Walmart.
Best Buy operated an online marketplace from 2011 to 2016 but shut it down due to weak sales and competition from Amazon and others. In recent years, it has run a marketplace in Canada. This summer, the retailer plans to launch the new, more diverse U.S. marketplace, which will roll out in phases.
Best Buy will initially allow customers to return U.S. marketplace purchases in stores. Additional features, such as fulfillment services for sellers, will follow in later stages, Barry noted.
“We believe that as the trusted leader in CE (consumer electronics), we have an opportunity to leverage our positioning and assets to build a differentiated digital marketplace platform,” she said. “This will allow us to bring our customers access to a much more expansive assortment and new categories without needing to own the inventory. In addition, sellers and advertisers will have an additional avenue to increase their reach and build their brands, leveraging our qualified traffic.”
Digital expansion and store strategy
Another major focus for the year is improving search and discovery to make shopping easier, Barry said. Best Buy plans to leverage artificial intelligence (AI) to enhance search functionality across its website, mobile app, and stores, while expanding AI-driven personalization to boost engagement and conversion.
This spring, Best Buy will introduce digital storefronts, allowing influencers and creators to curate and promote their own branded collections on BestBuy.com. Barry said the initiative is expected to increase traffic, engagement, and sales.
Meanwhile, Best Buy continues to refine its store footprint. Last year, the company closed 12 big-box stores in the U.S. while opening two new locations. In fiscal 2026, it plans to close another five to 10 stores while adding smaller-format stores, Barry said.
Best Buy Q4 FY25 results
For the 13-week quarter ended Feb. 1, 2025, compared to the 14-week Q4 FY24 ended Feb. 3, 2024, Best Buy reported:
- Total revenue: $13.95 billion, down from $14.65 billion.
- Domestic revenue: $12.72 billion, down from $13.41 billion.
- Enterprise comparable sales: Up 0.5% in Q4; down 2.3% for the full fiscal year. These exclude the impact of the extra week in fiscal 2024.
- Domestic online sales: Up 2.6% in Q4; down 0.8% for the full year, also excluding the impact of the extra week.
- Full-year fiscal 2025 revenue: $41.53 billion versus $43.45 billion in fiscal 2024 (includes the extra week in fiscal 2024).
Percentage changes may not align due to rounding. Check back for more earnings reports. Click here to read about last quarter‘s Best Buy online sales.
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