Retail Specialty

Best Buy $41.7B is consumer electronics. Tractor Supply $15.5B is rural. Ulta $12.4B is beauty. eBay $11.1B is a marketplace. Williams-Sonoma $7.8B is home furnishings. Hasbro $4.7B is toys and Wizards IP.

FY2025: Pottery Barn $3.00B, West Elm $1.86B, Williams Sonoma $1.36B, PB Kids and Teen $1.14B, Other $0.45B. The five lines sum to $7.81B.

Best Buy FY2026: Domestic $38.3B, International $3.4B. Ulta FY2025 mix: cosmetics 38%, skincare 24%, haircare 19%, fragrance 13%, services 4%, other 2%. These are not the same split.

FY2025: Consumer Products $2.438B, -4%. Wizards of the Coast $2.187B, +45%. Group $4.701B. This is IP, not a store chain.

Take rate (net revenues / GMV) was 13.94% in 2025, up 17 basis points from 13.77%. Net revenues $11.100B. The company described enabled GMV as nearly $80 billion. No more precise annual GMV dollar is on this card.

FY2025 year-end: 2,395 Tractor Supply stores and 207 Petsense. Owned brands were 30.0% of sales. Comps were +1.2%.

The FY2025 10-K prints approximately 65% of net revenues from e-commerce. The 35% remainder is implied, not a separately printed line.

FY2025: 1,505 US Ulta Beauty stores and 86 company-operated Space NK stores (84 UK, 2 Ireland). Space NK is the acquired international banner, not a US remodel program.

FY2025 comparable brand revenue: Williams Sonoma +6.9%, PB Kids and Teen +4.4%, West Elm +2.9%, Pottery Barn +0.4%. Pottery Barn is still the dollar engine.