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Best Buy Co., Inc. logo

Best Buy Co., Inc.


2019 Vault Rankings

About Best Buy Co., Inc.

Electronics giant Best Buy is preparing to outlast the competition with a compelling mix of products and services. The multinational retailer sells both products and services through more than 1,200 stores in the US, Canada, and Mexico under the Best Buy, Best Buy Express, Magnolia Audio Video, and Pacific Kitchen and Home Sales banners. Its stores sell a variety of electronic gadgets and wearables, tablets, movies, music, computers, mobile phones, and appliances. On the services side, it offers installation and maintenance, in-home consultations, business accounts, recycling, and technical support. With 20,000 staff members, Best Buy's Geek Squad provides support for customers' technology products in a variety of ways, online, on the phone, at customers' homes, and at Best Buy store locations. The company also provides heath and safety technology solutions to aging customers through its GreatCall provider. 


Best Buy's operations consist of its Domestic and International segments. The Domestic segment, which made up more than 90% of the retailer's total sales, focuses on the US market, where Best Buy Mobile (mobile sales and service), Geek Squad (technology support services), and Pacific Sales (kitchen appliance sales and installation) can be found in US Best Buy stores using the store-within-a-store format.

The company's International segment (about 10% of revenue) focuses on markets in Canada and Mexico. It counts the sales in Canada under the Best Buy (, Best Buy Mobile, and Geek Squad; and sales in Mexico under the Best Buy (, Best Buy Express, and Geek Squad brands.

Product-wise, the company generates about 45% of its total revenue from computers and mobile phone sales, while around a third of its revenue came from consumer electronic sales. The remaining revenue came from Appliances (around 10%), Entertainment (nearly 10%), and Services (around 5%).

Geographic Reach

Best Buy generated more than 90% of its total sales in the US, while Canada and Mexico contributed more than 8%. The retailer also has a presence in Barbados, Bermuda, China, Hong Kong, Luxembourg, the Republic of Mauritius, Turks and Caicos, and the UK.

The company has over 1,025 stores in the US and more than 210 stores internationally.

Sales and Marketing

Best Buy purchases its merchandise from a variety of suppliers. The company purchased about 65% of its merchandise from five main suppliers: Apple, Samsung, Hewlett-Packard, Sony, and LG Electronics.

The company’s advertising expenses were $777 million, $776 million and $743 million in fiscal 2019, fiscal 2018 and fiscal 2017, respectively.

Financial Performance

Best Buy has seen uneven revenue growth in recent years amid fierce competition from larger and online retailers. Its annual revenues have risen overall more than 6% since 2015.

Revenue increased to $42.8 billion in fiscal year 2019, an approximately 2% increase from the year prior. The increase was driven by comparable sales growth of 4% offset in part by a non-comparable sales impact of nearly 2%. 

Net income was $1.4 billion in 2019, an increase from $1 million in 2018. Selling, general and administrative expenses fell slightly in 2019 to $8 million.

Cash on hand at the end of 2019 was $2.1 billion. Cash provided by operating activities was $2.4 billion in 2019, while investing activities provided $508 million. Financing activities used $2 billion.


Best Buy has launched a strategy called Best Buy 2020 to enhance its competitive differentiation by expanding its personalized customer services on several levels. The company's new Total Tech Support program provides members with unlimited Geek Squad support for their technology no matter where or when they bought it. Best Buy has also expanded its In-Home Advisor program from 300 advisors to 530 advisors who provide free in-home consultations to customers. 

The company has new targets related to bringing health technology to seniors. Best Buy recently acquired GreatCall, a leading connected health services provider for aging consumers, as part of its strategy to help seniors live longer in their homes with the help of technology. The company also acquired Critical Signal Technologies, a remote patient monitoring company, as part of its continuing effort to grow its at-home health services business.

Best Buy is also driving efficiencies and reducing costs in order to fund investments and offset pressures. The company had $265 million in annualized cost reductions and efficiencies in fiscal 2019, bringing its cumulative total to $500 million toward its goal of $600 million in reductions by the end of fiscal 2021. In addition, Best Buy is closing all of its 250-plus Best Buy Mobile stand-alone locations in the US, but plans to continue to sell smartphones online and in its Best Buy stores. 

The company has been recognized for its efforts toward sustainability, which include comprehensive e-waste recycling programs and carbon emissions reductions.

Mergers and Acquisitions

In 2019, Best Buy acquired remote monitoring company Critical Signal Technologies, as part of its continuing effort to grow its at-home health services business.

In 2018, Best Buy acquired GreatCall, Inc., headquartered in San Diego, California, for $800 million in cash. GreatCall offers health and safety solutions for older adults and their family caregivers through easy-to-use mobile products. Products and services include Lively Mobile, Jitterbug Flip, Jitterbug Smart, Lively Wearable, Lively Home and health, safety and wellness apps Urgent Care, GreatCall Link, MedCoach and 5Star Urgent Response Service.

Company Background

Best Buy was founded by Richard Schulze in 1966 and called Sound of Music before the name changed to Best Buy in 1983.

Best Buy Co., Inc.

Richfield, MN 55423-3683
Phone: 1 (612) 291-1000

Firm Stats

Employer Type: Publicly Owned
Stock Symbol: BBY
Stock Exchange: , NYSE
CFO: Corie S. Barry
Chairman and CEO: Hubert Joly
SEVP and Chief Merchandising and Marketing Officer: R. Michael Mohan
Employees (This Location): 120
Employees (All Locations): 125,000

Major Office Locations

Richfield, MN

Other Locations

Anchorage, AK
Alabaster, AL
Birmingham, AL
Dothan, AL
Fultondale, AL
Hoover, AL
Huntsville, AL
Mobile, AL
Montgomery, AL
Opelika, AL
Oxford, AL
Prattville, AL
Spanish Fort, AL
Tuscaloosa, AL
Benton, AR
Conway, AR
Fayetteville, AR
Fort Smith, AR
Hot Springs, AR
Jonesboro, AR
Little Rock, AR
North Little Rock, AR
Rogers, AR
Avondale, AZ
Chandler, AZ
Flagstaff, AZ
Gilbert, AZ
Glendale, AZ
Goodyear, AZ
Mesa, AZ
Oro Valley, AZ
Phoenix, AZ
Prescott, AZ
Scottsdale, AZ
Sierra Vista, AZ
Surprise, AZ
Tempe, AZ
Tucson, AZ
Yuma, AZ
Anaheim, CA
Apple Valley, CA
Auburn, CA
Bakersfield, CA
Beaumont, CA
Brentwood, CA
Burbank, CA
Canoga Park, CA
Capitola, CA
Cerritos, CA
Chico, CA
Chino, CA
Chino Hills, CA
Chula Vista, CA
Citrus Heights, CA
City Of Industry, CA
Clovis, CA
Colma, CA
Compton, CA
Concord, CA
Corona, CA
Costa Mesa, CA
Culver City, CA
Daly City, CA
Dinuba, CA
Downey, CA
Duarte, CA
Dublin, CA
El Cajon, CA
El Centro, CA
Elk Grove, CA
El Segundo, CA
Encinitas, CA
Escondido, CA
Fairfield, CA
Folsom, CA
Fresno, CA
Fullerton, CA
Gilroy, CA
Glendale, CA
Glendora, CA
Goleta, CA
Hawthorne, CA
Hayward, CA
Irvine, CA
La Jolla, CA
Lakewood, CA
La Mesa, CA
La Quinta, CA
Long Beach, CA
Los Angeles, CA
Marina, CA
Menifee, CA
Merced, CA
Milpitas, CA
Mira Loma, CA
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Modesto, CA
Montclair, CA
Montebello, CA
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Murrieta, CA
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Honolulu, HI
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Algonquin, IL
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Joliet, IL
Kankakee, IL
Lake Zurich, IL
Lincolnwood, IL
Melrose Park, IL
Moline, IL
Mundelein, IL
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North Riverside, IL
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Peoria, IL
Quincy, IL
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Rockford, IL
Schaumburg, IL
South Elgin, IL
Springfield, IL
Tinley Park, IL
Vernon Hills, IL
Avon, IN
Bloomington, IN
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Fort Wayne, IN
Greenwood, IN
Highland, IN
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Merrillville, IN
Mishawaka, IN
Muncie, IN
Noblesville, IN
Richmond, IN
Terre Haute, IN
Valparaiso, IN
Lawrence, KS
Manhattan, KS
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Bowling Green, KY
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Kenner, LA
Lafayette, LA
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Monroe, LA
New Orleans, LA
Shreveport, LA
Slidell, LA
Boston, MA
Braintree, MA
Brockton, MA
Burlington, MA
Cambridge, MA
Danvers, MA
Dedham, MA
Dorchester, MA
Everett, MA
Framingham, MA
Holyoke, MA
Hyannis, MA
Leominster, MA
Mansfield, MA
Marlborough, MA
Milford, MA
Millbury, MA
Natick, MA
North Attleboro, MA
North Dartmouth, MA
Peabody, MA
Plymouth, MA
Saugus, MA
Seekonk, MA
Watertown, MA
Worcester, MA
Annapolis, MD
Baltimore, MD
Bel Air, MD
Bethesda, MD
Bowie, MD
California, MD
College Park, MD
Columbia, MD
Elkridge, MD
Frederick, MD
Gaithersburg, MD
Germantown, MD
Hagerstown, MD
Hanover, MD
Lanham, MD
Laurel, MD
Lutherville Timonium, MD
Owings Mills, MD
Rockville, MD
Salisbury, MD
Towson, MD
Waldorf, MD
Wheaton, MD
White Marsh, MD
Augusta, ME
Bangor, ME
South Portland, ME
Allen Park, MI
Ann Arbor, MI
Auburn Hills, MI
Battle Creek, MI
Benton Harbor, MI
Bloomfield, MI
Chesterfield, MI
Dearborn, MI
Farmington Hills, MI
Flint, MI
Fort Gratiot, MI
Grand Rapids, MI
Holland, MI
Jackson, MI
Lansing, MI
Livonia, MI
Madison Heights, MI
Marquette, MI
Midland, MI
Muskegon, MI
Norton Shores, MI
Novi, MI
Okemos, MI
Portage, MI
Rochester Hills, MI
Roseville, MI
Saginaw, MI
Southfield, MI
Taylor, MI
Traverse City, MI
Troy, MI
Utica, MI
Westland, MI
Apple Valley, MN
Athens, MN
Baxter, MN
Blaine, MN
Bloomington, MN
Burnsville, MN
Duluth, MN
Eagan, MN
Eden Prairie, MN
Hutchinson, MN
Lakeville, MN
Mankato, MN
Maple Grove, MN
Maplewood, MN
Minneapolis, MN
Minnetonka, MN
North Little Rock, MN
Oakdale, MN
Richfield, MN
Rochester, MN
Roseville, MN
Saint Cloud, MN
Saint Paul, MN
Shakopee, MN
Stillwater, MN
Branson, MO
Bridgeton, MO
Cape Girardeau, MO
Chesterfield, MO
Columbia, MO
Fenton, MO
Independence, MO
Jefferson City, MO
Joplin, MO
Kansas City, MO
Lees Summit, MO
Manchester, MO
Saint Joseph, MO
Saint Louis, MO
Saint Peters, MO
Springfield, MO
Wentzville, MO
Diberville, MS
Flowood, MS
Gulfport, MS
Madison, MS
Meridian, MS
Southaven, MS
Tupelo, MS
Billings, MT
Missoula, MT
Aberdeen, NC
Arden, NC
Asheville, NC
Burlington, NC
Cary, NC
Charlotte, NC
Concord, NC
Durham, NC
Fayetteville, NC
Garner, NC
Gastonia, NC
Greensboro, NC
Greenville, NC
Hickory, NC
Jacksonville, NC
Knightdale, NC
Matthews, NC
Mooresville, NC
Morehead City, NC
Pineville, NC
Raleigh, NC
Waynesville, NC
Wilmington, NC
Wilson, NC
Winston Salem, NC
Bismarck, ND
Fargo, ND
Grand Forks, ND
Minot, ND
Grand Island, NE
Lincoln, NE
Omaha, NE
Papillion, NE
Concord, NH
Manchester, NH
Nashua, NH
Newington, NH
Salem, NH
West Lebanon, NH
Brick, NJ
Bridgewater, NJ
Cherry Hill, NJ
Deptford, NJ
East Brunswick, NJ
East Hanover, NJ
Eatontown, NJ
Edison, NJ
Freehold, NJ
Holmdel, NJ
Iselin, NJ
Jersey City, NJ
Manahawkin, NJ
Mays Landing, NJ
Monmouth Junction, NJ
Moorestown, NJ
Mount Laurel, NJ
Paramus, NJ
Phillipsburg, NJ
Princeton, NJ
Riverdale, NJ
Rockaway, NJ
Secaucus, NJ
Union, NJ
Vauxhall, NJ
Vineland, NJ
Wayne, NJ
Woodbury, NJ
Woodland Park, NJ
Albuquerque, NM
Farmington, NM
Las Cruces, NM
Santa Fe, NM
Carson City, NV
Henderson, NV
Las Vegas, NV
Reno, NV
Sparks, NV
Albany, NY
Amherst, NY
Baldwin, NY
Bay Shore, NY
Bronx, NY
Bronxville, NY
Brooklyn, NY
Buffalo, NY
Cheektowaga, NY
De Witt, NY
East Northport, NY
Elmhurst, NY
Elmira, NY
Farmingdale, NY
Flushing, NY
Hartsdale, NY
Huntington Station, NY
Ithaca, NY
Kingston, NY
Levittown, NY
Liverpool, NY
Long Island City, NY
Middletown, NY
Mohegan Lake, NY
Monroe, NY
Mount Vernon, NY
New Hartford, NY
New York, NY
Nichols, NY
Patchogue, NY
Plattsburgh, NY
Poughkeepsie, NY
Riverhead, NY
Rochester, NY
Rockville Centre, NY
Saratoga Springs, NY
South Setauket, NY
Staten Island, NY
Syracuse, NY
Valley Stream, NY
Vestal, NY
Victor, NY
Watertown, NY
Westbury, NY
West Nyack, NY
Yonkers, NY
Akron, OH
Avon, OH
Beavercreek, OH
Boardman, OH
Canton, OH
Cincinnati, OH
Cleveland, OH
Columbus, OH
Copley, OH
Cuyahoga Falls, OH
Dayton, OH
Dublin, OH
Elyria, OH
Fairfield Township, OH
Findlay, OH
Grove City, OH
Heath, OH
Holland, OH
Lancaster, OH
Macedonia, OH
Marysville, OH
Mayfield Heights, OH
Mentor, OH
Niles, OH
North Olmsted, OH
Ontario, OH
Ravenna, OH
Reynoldsburg, OH
Sandusky, OH
Springfield, OH
Strongsville, OH
Toledo, OH
Wooster, OH
Youngstown, OH
Ardmore, OK
Midwest City, OK
Moore, OK
Muskogee, OK
Norman, OK
Oklahoma City, OK
Owasso, OK
Stillwater, OK
Tulsa, OK
Beaverton, OR
Bend, OR
Gresham, OR
Happy Valley, OR
Medford, OR
Portland, OR
Salem, OR
Springfield, OR
Tualatin, OR
Altoona, PA
Bensalem, PA
Bethel Park, PA
Camp Hill, PA
Collegeville, PA
Cranberry Township, PA
Dickson City, PA
Downingtown, PA
Easton, PA
Erie, PA
Exton, PA
Fairless Hills, PA
Harrisburg, PA
Homestead, PA
Johnstown, PA
King Of Prussia, PA
Lancaster, PA
Langhorne, PA
Mechanicsburg, PA
Monroeville, PA
Muncy, PA
Munhall, PA
North Wales, PA
Philadelphia, PA
Pittsburgh, PA
Plymouth Meeting, PA
Quakertown, PA
Scranton, PA
Selinsgrove, PA
Springfield, PA
State College, PA
Stowe, PA
Stroudsburg, PA
Tarentum, PA
Whitehall, PA
Wilkes Barre, PA
Willow Grove, PA
Wyomissing, PA
York, PA
Warwick, RI
Anderson, SC
Beaufort, SC
Bluffton, SC
Charleston, SC
Columbia, SC
Florence, SC
Greenville, SC
Lexington, SC
Myrtle Beach, SC
North Charleston, SC
Rock Hill, SC
Spartanburg, SC
Summerville, SC
Rapid City, SD
Sioux Falls, SD
Brentwood, TN
Chattanooga, TN
Clarksville, TN
Farragut, TN
Franklin, TN
Goodlettsville, TN
Hixson, TN
Jackson, TN
Johnson City, TN
Kingsport, TN
Knoxville, TN
Madison, TN
Memphis, TN
Mount Juliet, TN
Murfreesboro, TN
Nashville, TN
Abilene, TX
Allen, TX
Amarillo, TX
Arlington, TX
Austin, TX
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Baytown, TX
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College Station, TX
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Flower Mound, TX
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Odessa, TX
Pasadena, TX
Pearland, TX
Pflugerville, TX
Plano, TX
Port Arthur, TX
Richmond, TX
Rockwall, TX
Rosenberg, TX
Round Rock, TX
San Angelo, TX
San Antonio, TX
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Selma, TX
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Spring, TX
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Temple, TX
Texarkana, TX
The Woodlands, TX
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Victoria, TX
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Seattle, WA
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Vancouver, WA
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Appleton, WI
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Delafield, WI
Eau Claire, WI
Grafton, WI
Green Bay, WI
Greendale, WI
Greenfield, WI
Janesville, WI
Kenosha, WI
Kohler, WI
La Crosse, WI
Lake Geneva, WI
Madison, WI
Menomonee Falls, WI
Milwaukee, WI
Mount Pleasant, WI
Onalaska, WI
Oshkosh, WI
Plover, WI
Racine, WI
Wausau, WI
Wauwatosa, WI
Barboursville, WV
Charleston, WV
Martinsburg, WV
Triadelphia, WV
Casper, WY
Cheyenne, WY
Ajax, Canada
Anjou, Canada
Aurora, Canada
Barrie, Canada
Bolton, Canada
Boucherville, Canada
Brampton, Canada
Brandon, Canada
Brantford, Canada
Brockville, Canada
Brossard, Canada
Burlington, Canada
Burnaby, Canada
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Charlottetown, Canada
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Coquitlam, Canada
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Courtenay, Canada
Dartmouth, Canada
Delta, Canada
Drummondville, Canada
Duncan, Canada
East Gwillimbury, Canada
Edmonton, Canada
Fredericton, Canada
Gatineau, Canada
Gloucester, Canada
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Greenfield Park, Canada
Guelph, Canada
Halifax, Canada
Hamilton, Canada
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Kanata, Canada
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Saint-Jean-Sur-Richelieu, Canada
Saint John, Canada
Saint-Jérôme, Canada
Saint-Laurent, Canada
Sarnia, Canada
Saskatoon, Canada
Sault Ste. Marie, Canada
Scarborough, Canada
Sherbrooke, Canada
St Catharines, Canada
Stoney Creek, Canada
Surrey, Canada
Sydney, Canada
Terrebonne, Canada
Thunder Bay, Canada
Timmins, Canada
Toronto, Canada
Trois-Rivières, Canada
Unionville, Canada
Vancouver, Canada
Vaudreuil-Dorion, Canada
Vernon, Canada
Victoria, Canada
Waterloo, Canada
Westbank, Canada
West Vancouver, Canada
Whitby, Canada
Windsor, Canada
Winnipeg, Canada
Woodbridge, Canada