BEST BUY CO INC (BBY)

Best Buy Co., Inc. is a Minnesota corporation, incorporated in 1966, that sells consumer technology products and services. Its stated purpose is to enrich lives through technology, and it aims to personalize and humanize technology solutions for every stage of life. It combines tech expertise with a human touch, serving customers online, in its stores and in their homes. It operates in the U.S. and Canada.

The company has two reportable segments. The Domestic segment covers all U.S. states, districts and territories plus the Best Buy Health business. Its brands include Best Buy, Geek Squad, Insignia, Lively, Jitterbug, Pacific Kitchen and Home, TechLiquidators, Yardbird and Best Buy Marketplace. The International segment covers all Canadian operations under brands such as Best Buy, Best Buy Express, Best Buy Mobile, Geek Squad, Insignia and TechLiquidators. Both segments offer six revenue categories: Computing and Mobile Phones; Consumer Electronics (including home theater, portable audio, smart home and health and fitness products); Appliances (large and small); Entertainment (gaming, drones, toys and virtual reality); Services (including delivery, installation, repair, technical support, warranty services, memberships, advertising and marketplace commissions); and Other (including baby, food and beverage, and outdoor living).

Customers buy through an omnichannel platform. Domestic online buyers can have products delivered or pick them up at a store, curbside at many stores, or at an alternative pick-up location, and a ship-from-store capability adds faster delivery options. The business is seasonal, with a large share of revenue and earnings in the fiscal fourth quarter, which includes the holiday shopping season. The company employed approximately 82,000 people in the U.S. and Canada at the end of fiscal 2026.

The company ended fiscal 2026 with 1,068 stores across both segments, including vendor store-within-a-store concepts. Most merchandise ships directly from manufacturers to its distribution centers. In fiscal 2026 its 20 largest suppliers made up about 80% of merchandise purchased. Apple, Samsung, HP, LG and Sony together made up about 55%, and it generally has no long-term written supply contracts. A global sourcing operation designs, develops, tests and contract-manufactures its exclusive brands. Competitors include multi-channel retailers, e-commerce businesses, technology service providers, traditional store-based retailers, vendors and mobile network carriers, some with lower-cost structures that compete mainly on price. Best Buy uses price matching to stay competitive. Merchandising, pricing, supply chain, online operations and marketing are centrally managed, and corporate support functions operate from its headquarters in Richfield, Minnesota. It funds operations through cash, operating cash flow and a revolving credit facility.