Best Buy Co., Inc.
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in mil. unless spec.Company Description
- CEO
- Corie Sue Barry
- Full Time Employees
- 82,000
- Sector
- Retail trade
- Industry
- Electronics/Appliance stores
- Address
- 7601 Penn Avenue South Richfield MN United States 55423
- IPO Date
- Jul 20, 1987
- CIK
- 0000764478
- Website
- bestbuy.com
- Similar Companies
- Business
- Best Buy Co., Inc. (NYSE: BBY) retails consumer electronics, computing devices, mobile phones, appliances, entertainment products and related services through physical stores, e-commerce platforms and third-party marketplaces primarily in the United States and Canada; core offerings encompass desktops, notebooks, peripherals, networking products, tablets, e-readers, smartwatches, digital imaging equipment, health and fitness devices, portable audio including headphones and speakers, smart home products, home theater systems with soundbars and televisions, dishwashers, laundry appliances, ovens, refrigerators, blenders, coffee makers, vacuums, personal care items, drones, video games, movies, toys, virtual reality hardware and software, baby products, food and beverage accessories, luggage and outdoor living goods; services include Geek Squad computer repair, warranty and accidental protection plans, installation, technical support, delivery and design consultations via subsidiaries such as Magnolia Design Center for custom home theaters and Pacific Sales for high-end appliances, alongside house brands like Insignia, Dynex, Rocketfish, Modal and Platinum for electronics, cables, accessories and storage; the company operates Best Buy Mobile for carrier partnerships with Verizon Wireless, AT&T Mobility, T-Mobile, Boost Mobile and Ting Mobile in the U.S., and Bell Mobility, Rogers Wireless, Telus Mobility in Canada. Founded in 1966 as Sound of Music by Richard M. Schulze and James Wheeler and rebranded Best Buy in 1983, the retailer is headquartered in Richfield, Minnesota, with over 1,000 stores in North America following exits from China, Mexico and Europe. Recent developments feature the mid-2025 relaunch of a U.S. online marketplace powered by Mirakl to double product assortments across electronics, seasonal decor, automotive tech, home essentials, movies, music and licensed sports merchandise; a strategic partnership with Bell Canada converting 167 The Source stores to Best Buy Express locations integrating tech retail and telecom services since June 2024; enterprise-wide restructuring in fiscal 2026 incurring $114 million in Q2 charges for employee terminations and asset impairments to align with evolving customer behaviors; in-store expansions for tablets, virtual reality and Nintendo Switch 2 experiences; and supply chain enhancements reducing damages while advancing sustainability via e-waste recycling and carbon reduction programs.
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