Best Buy Co., Inc. (BBY) Q4 2025 Earnings Call

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WEBVTT 00:00:01.600 -- 00:00:03.942 Ladies and gentlemen, thank you for standing by. 00:00:03.942 -- 00:00:09.507 Welcome to Best Buy's fourth quarter fiscal 2025 earnings conference call. 00:00:09.507 -- 00:00:14.072 As a reminder, this call is being recorded for playback and will be available by approximately 00:00:14.072 -- 00:00:19.377 1 p.m. Eastern time today. If you need assistance on the call at any time, please 00:00:19.377 -- 00:00:22.440 press star zero and an operator will assist you. 00:00:22.440 -- 00:00:27.743 I will now turn the conference over to Molly O'Brien, head of investor relations. 00:00:27.885 -- 00:00:31.930 Thank you and good morning, everyone. Joining me on the call today are Corey Berry, our 00:00:31.930 -- 00:00:37.055 CEO, Matt Ballounis, our CFO, and Jason Bonfeng, our Senior Executive Vice 00:00:37.055 -- 00:00:39.998 President of Customer Offering and Fulfillment. 00:00:39.998 -- 00:00:44.502 During the call today, we will be discussing both GAAP and non-GAAP financial measures. 00:00:44.502 -- 00:00:48.646 A reconciliation of these non-GAAP financial measures to the most directly comparable 00:00:48.646 -- 00:00:53.390 GAAP financial measures and an explanation of why these non-GAAP financial measures are 00:00:53.390 -- 00:00:56.933 useful can be found in this morning's earnings release. 00:00:56.933 -- 00:01:00.475 which is available on our website, investors.bestbuy.com. 00:01:01.498 -- 00:01:06.202 Beginning this quarter, we have renamed all of our non-GAAP financial measures to adjusted 00:01:06.202 -- 00:01:11.588 financial measures. For example, non-GAAP SG&A has been renamed to adjusted 00:01:11.588 -- 00:01:16.793 SG&A. The methodology for calculating these measures remains unchanged. 00:01:16.793 -- 00:01:21.298 And theref...