Best Buy Co., Inc. offers a full range of services that complement the company’s product offerings, including consultation, delivery, design, installation, memberships, protection plans, repair, set-up, technical support and health, safety and caregiving monitoring and support. The company has operations in the U.S. and Canada.
In fiscal 2024, the company completed the sale of a Mexico subsidiary subsequent to the company’s exit from operations in Mexico.
Segments and Geographic Areas
The com...
Best Buy Co., Inc. offers a full range of services that complement the company’s product offerings, including consultation, delivery, design, installation, memberships, protection plans, repair, set-up, technical support and health, safety and caregiving monitoring and support. The company has operations in the U.S. and Canada.
In fiscal 2024, the company completed the sale of a Mexico subsidiary subsequent to the company’s exit from operations in Mexico.
Segments and Geographic Areas
The company has two reportable segments: Domestic and International.
The Domestic segment is consisted of the company’s operations in all states, districts and territories of the U.S. and the company’s Best Buy Health business, and includes the brand names Best Buy, Best Buy Ads, Best Buy Business, Best Buy Essentials, Best Buy Health, Current Health, Geek Squad, Imagine That, Insignia, Lively, My Best Buy, My Best Buy Memberships, Pacific Kitchen and Home, TechLiquidators and Yardbird; and the domain names bestbuy.com, currenthealth.com, lively.com, techliquidators.com and yardbird.com.
The company’s International segment is consisted of all operations in Canada under the brand names Best Buy, Best Buy Express, Best Buy Mobile, Geek Squad and TechLiquidators and the domain names bestbuy.ca and techliquidators.ca.
Operations
The company’s Domestic and International segments are managed by leadership teams responsible for all areas of the business. Both segments operate an omnichannel platform that allows customers to come to the company online, visit the company’s stores or invite the company into their homes.
Development of merchandise and service offerings, pricing and promotions, procurement and supply chain, online and mobile application operations, marketing and advertising and labor deployment across all channels are centrally managed. In addition, support capabilities (for example, human resources, finance, information technology and real estate management) operate primarily from the company’s corporate headquarters. The company also has field operations that support retail, services and in-home teams primarily from the company’s corporate headquarters and regional locations. The company’s retail stores have procedures for inventory management, asset protection, transaction processing, customer relations, store administration, product sales and services, staff training and merchandise display that are largely standardized. All stores generally operate under standard procedures with a degree of flexibility for store management to address certain local market characteristics. While day-to-day operations of the company’s stores are led by store management, more strategic decisions regarding, for example, store locations, format, category assortment and fulfillment strategy, are led by the company’s corporate teams with input from market or regional leadership.
The company’s Best Buy Health business has a dedicated leadership team that manages the day-to-day affairs of all aspects of its business, while receiving support from certain Best Buy enterprise capabilities.
Merchandise and Services
The company’s Domestic and International segments have offerings in six revenue categories. The key components of each revenue category are as follows:
Computing and Mobile Phones - computing (including desktops, notebooks and peripherals), mobile phones (including related mobile network carrier commissions), networking, tablets (including e-readers) and wearables (including smartwatches);
Consumer Electronics - digital imaging, health and fitness products, home theater (including home theater accessories, soundbars and televisions), portable audio (including headphones and portable speakers) and smart home;
Appliances - large appliances (including dishwashers, laundry, ovens and refrigerators) and small appliances (including blenders, coffee makers, vacuums and personal care);
Entertainment - drones, gaming (including hardware, peripherals and software), movies, toys, virtual reality and other software;
Services - delivery, health-related services, installation, memberships, repair, set-up, technical support and warranty-related services; and
Other - other product offerings, including baby, food and beverage and outdoor living.
Distribution
Customers within the company’s Domestic segment who purchase product online have the choice to have product delivered, or pick up product from a Best Buy store (including curbside pick-up for many products at most stores) or an alternative pick-up location. The company’s ship-from-store capability allows the company to offer additional fast and convenient delivery options for customers. Most merchandise is shipped directly from manufacturers to the company’s distribution centers. Distribution is similar for the company’s International segment.
Suppliers
In fiscal 2025, the company’s 20 largest suppliers accounted for approximately 80% of the merchandise the company purchased, with five suppliers – Apple, Samsung, HP, Sony and LG – representing approximately 55% of total merchandise purchased.
Store Development
The company had 1,117 stores at the end of fiscal 2025 throughout the company’s Domestic and International segments. The company’s stores are a vital component of the company’s omnichannel strategy, and they are an important competitive advantage. The company also has vendor store-within-a-store concepts to allow closer vendor partnerships and a higher quality customer experience. The company continuously looks for opportunities to optimize its store space, renegotiate leases and selectively open or close locations to support the company’s operations.
Intellectual Property
The company owns or has the right to use valuable intellectual property such as trademarks, service marks and trade names, including, but not limited to, Best Buy, Best Buy Ads, Best Buy Essentials, Best Buy Express, Best Buy Health, Best Buy Marketplace, Current Health, Geek Squad, Imagine That, Insignia, Jitterbug, Lively, Magnolia, My Best Buy, My Best Buy Memberships, Pacific Kitchen and Home, Pacific Sales, Rocketfish, TechLiquidators, Yardbird and the company’s Yellow Tag logo.
Seasonality
The company’s business, like that of many retailers, is seasonal. A large proportion of the company’s revenue and earnings is generated in the fiscal fourth quarter (year ended February 2025), which includes the majority of the holiday shopping season.
History
Best Buy Co., Inc. was founded in 1966. The company was incorporated in the state of Minnesota in 1966.