Best Buy 2011 Annual Report Download - page 129

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$ in millions, except per share amounts or as otherwise noted
18. Supplementary Financial Information (Unaudited)
The following tables show selected operating results for each quarter and full year of fiscal 2011 and 2010 (unaudited):
Quarter Fiscal
1st 2nd 3rd 4th Year
Fiscal 2011
Revenue $10,787 $11,339 $11,890 $16,256 $50,272
Comparable store sales % change(1) 2.8% (0.1)% (3.3)% (4.6)% (1.8)%
Gross profit $ 2,793 $ 2,918 $ 2,983 $ 3,943 $12,637
Operating income(2) 313 411 385 1,005 2,114
Net earnings including noncontrolling interests 181 257 240 688 1,366
Net earnings attributable to Best Buy Co., Inc. 155 254 217 651 1,277
Diluted earnings per share(3) 0.36 0.60 0.54 1.62 3.08
Quarter Fiscal
1st 2nd 3rd 4th Year
Fiscal 2010
Revenue $10,095 $11,022 $12,024 $16,553 $49,694
Comparable store sales % change(1) (6.2)% (3.9)% 1.7% 7.0% 0.6%
Gross profit $ 2,557 $ 2,684 $ 2,942 $ 3,977 $12,160
Operating income(4) 296 280 376 1,283 2,235
Net earnings including noncontrolling interests 156 157 271 810 1,394
Net earnings attributable to Best Buy Co., Inc. 153 158 227 779 1,317
Diluted earnings per share(3) 0.36 0.37 0.53 1.82 3.10
Note: Certain fiscal year totals may not add due to rounding.
(1) Comprised of revenue from stores operating for at least 14 full months as well as revenue related to call centers, Web sites and our
other comparable sales channels. Revenue we earn from sales of merchandise to wholesalers or dealers is not included within our
comparable store sales calculation. Relocated, remodeled and expanded stores are excluded from our comparable store sales
calculation until at least 14 full months after reopening. Acquired stores are included in our comparable store sales calculation
beginning with the first full quarter following the first anniversary of the date of the acquisition. The portion of our calculation of the
comparable store sales percentage change attributable to our International segment excludes the effect of fluctuations in foreign
currency exchange rates. The method of calculating comparable store sales varies across the retail industry. As a result, our method
of calculating comparable store sales may not be the same as other retailers’ methods.
(2) Includes $222 of restructuring charges recorded in the fiscal fourth quarter related to measures we took to restructure our
businesses.
(3) The sum of our quarterly diluted earnings per share does not equal our annual diluted earnings per share due to the impact of the
timing of the repurchases of common stock and stock option exercises on quarterly and annual weighted-average shares
outstanding.
(4) Includes $52 of restructuring charges recorded in the fiscal first quarter related to measures we took to restructure our businesses.
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