Best Buy 2015 Annual Report Download - page 43

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Table of Contents
36
International
The following table presents selected financial data for our International segment for each of the past three fiscal years ($ in
millions):
12-Month 12-Month 11-Month
International Segment Performance Summary 2015 2014 2013
Revenue $ 4,284 $ 4,780 $ 5,030
Revenue % decline(1) (10.4)% (5.0)% (13.7)%
Comparable sales % decline (3.5)% (5.1)% (9.1)%
Gross profit $ 967 $ 1,125 $ 1,234
Gross profit as a % of revenue 22.6 % 23.5 % 24.5 %
SG&A $ 953 $ 1,100 $ 1,177
SG&A as a % of revenue 22.2 % 23.0 % 23.4 %
Restructuring charges $ 1 $ 26 $ 87
Goodwill impairments $ — $ — $ 611
Operating income (loss) $ 13 $ (1) $ (641)
Operating income (loss) as a % of revenue 0.3 % — % (12.7)%
(1) The revenue % decline for fiscal 2013 (11-month) is compared to the 12-month fiscal year 2012.
The following table reconciles our International segment stores open at the end of each of the last three fiscal years:
Fiscal 2013
(11-Month) Fiscal 2014 Fiscal 2015
Total Stores
at End of
Fiscal Year Stores
Opened Stores
Closed
Total Stores
at End of
Fiscal Year Stores
Opened Stores
Closed
Total Stores
at End of
Fiscal Year
Canada
Future Shop 140 — (3) 137 1 (5) 133
Best Buy 72 — — 72 — (1) 71
Best Buy Mobile stand-alone 49 7 — 56 — — 56
Mexico
Best Buy 14 3 — 17 1 — 18
Express 1 1 — 2 3 — 5
Total International segment stores 276 11 (3) 284 5 (6) 283
Fiscal 2015 Results Compared With Fiscal 2014
Our International segment experienced a decrease in revenue of 10.4% primarily driven by the negative impact of foreign
currency exchange rate fluctuations, a comparable sales decline of 3.5%, and the loss of revenue from store closures in Canada.
The components of the International segment's 10.4% revenue decrease in fiscal 2015 (12-month) were as follows:
Impact of foreign currency exchange rate fluctuations (6.4)%
Comparable sales impact (3.4)%
Net store changes (0.9)%
Non-comparable sales(1) 0.3 %
Total revenue decrease (10.4)%
(1) Non-comparable sales reflects the impact of revenue streams not included within our comparable store sales calculation, such as certain credit card
revenue, gift card breakage and sales of merchandise to wholesalers and dealers, as applicable.