Best Buy

Best Buy Co., Inc.
	Logo used since May 9, 2018
	Best Buy store in Onalaska, Wisconsin
Formerly	Sound of Music (1966–1983); Best Buy Co. Superstores (1983–1984); Best Buy Superstores (1984–1989);
Company type	Public
Traded as	NYSE: BBY; S&P 500 component;
Industry	Retail
Founded	August 22, 1966 in St. Paul, Minnesota, United States, as Sound of Music
Founders	Richard M. Schulze; James Wheeler;
Headquarters	Richfield, Minnesota, U.S.
Number of locations	1,125 (2024)
Areas served	United States; Canada;
Key people	Patrick Doyle (Chairman); Corie Barry (CEO);
Products	Consumer electronics, appliances
Services	Tech repair
Revenue	US$43.45 billion (2024)
Operating income	US$1.574 billion (2024)
Net income	US$1.241 billion (2024)
Total assets	US$14.97 billion (2024)
Total equity	US$3.053 billion (2024)
Number of employees	c. 85,000 (February 2024)
Divisions	Best Buy Canada
Subsidiaries	Best Buy Mobile; Geek Squad; Lively; Magnolia Home Theater; Pacific Sales;
Website	bestbuy.com
	Footnotes / references; Financials as of February 3, 2024.

Best Buy Co., Inc. is an American multinational consumer electronics retailer headquartered in Richfield, Minnesota. Originally founded by Richard M. Schulze and James Wheeler in 1966 as an audio specialty store called Sound of Music, it was rebranded under its current name with an emphasis on consumer electronics in 1983.

Best Buy operates internationally in Canada, and formerly operated in China until February 2011 (when the faction was merged with Five Star) and in Mexico until December 2020 (due to the effects of the COVID-19 pandemic). The company also operated in Europe until 2012. Its subsidiaries include Geek Squad, Magnolia Audio Video, and Pacific Sales. Best Buy also operates the Best Buy Mobile and Insignia brands in North America, plus Five Star in China. Best Buy sells cellular phones from Verizon Wireless, AT&T Mobility, T-Mobile, Boost Mobile and Ting Mobile in the United States. In Canada, carriers include Bell Mobility, Rogers Wireless, Telus Mobility, their fighter brands, and competing smaller carriers, such as SaskTel.

Hubert Joly is executive chairman of Best Buy, having been succeeded as CEO by Corie Barry in June 2019. According to Yahoo! Finance, Best Buy is the largest specialty retailer in the United States consumer electronics retail industry. The company ranked number 72 in the 2018 Fortune 500 list of the largest United States corporations by total revenue.

This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.