Best Buy 2003 Annual Report Download - page 155
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Fiscal 2002 as revised(1)
Revenue $ 3,312 $ 3,768 $ 4,336 $ 6,295 $ 17,711
Comparable store sales change(3) (3.1)% 2.8% 1.6% 4.5% 1.9%
Gross profit $ 708 $ 806 $ 885 $ 1,371 $ 3,770
Operating income 101 157 146 504 908
Earnings from continuing operations 65 98 92 315 570
(Loss) earnings from discontinued
operations, net of tax (10) (13) (12) 35 —
Net earnings 55 85 80 350 570
Diluted earnings (loss) per share:(5)
Continuing operations 0.20 0.30 0.29 0.97 1.77
Discontinued operations (0.03) (0.04) (0.04) 0.11 —
Diluted earnings per share 0.17 0.26 0.25 1.08 1.77
Quarter 1st 2nd 3rd 4th Fiscal Year
Fiscal 2002 as previously reported
Revenue $ 3,697 $ 4,164 $ 4,756 $ 6,980 $ 19,597
Comparable store sales change(3) (3.1)% 2.8% 1.6% 4.5% 1.9%
Gross profit $ 846 $ 948 $ 1,028 $ 1,608 $ 4,430
Operating income 90 148 129 570 937
Net earnings 55 85 80 350 570
Diluted earnings per share(5) 0.17 0.26 0.25 1.08 1.77
(3) Includes revenue at stores and Internet sites operating for at least 14 full months, as well as remodeled and expanded
locations. Relocated stores are excluded from the comparable store sales calculation until at least 14 full months after reopening.
Acquired stores are included in the comparable store sales calculation beginning with the first full quarter following the first
anniversary of the date of acquisition. The calculation of the comparable store sales change excludes Musicland revenue, which is
included in discontinued operations.
(4) During the third quarter of fiscal 2002, we acquired the common stock of Future Shop Ltd. Future Shop’s results of
operations were included from the date of acquisition.
(5) The diluted earnings per share amounts have been revised to reflect a three−for−two stock split effected on May 10, 2002.
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Common Stock Prices
The following table shows high and low prices of our common stock for each quarter of fiscal 2003 and 2002.
Quarter 1st 2nd 3rd 4th
Fiscal 2003
High $ 53.75 $ 46.10 $ 28.40 $ 30.45
Low 44.63 18.50 16.99 22.10
Fiscal 2002
High $ 41.57 $ 46.60 $ 48.00 $ 51.47
Low 22.42 35.45 26.68 43.43
Our common stock is traded on the New York Stock Exchange under the ticker symbol BBY. As of March 31, 2003, there were 2,345
holders of record of Best Buy common stock. We have not historically paid, and have no current plans to pay, cash dividends on our
common stock. The stock prices above have been revised to reflect a three−for−two stock split effected on May 10, 2002.
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