Who Owns Best Buy?
Best Buy is the flagship retail brand of Best Buy Co., Inc. (NYSE: BBY), a publicly traded consumer electronics retailer headquartered in Richfield, Minnesota. Founded in 1966 as Sound of Music and renamed Best Buy in 1983, the brand operates over 1,000 stores across the US, Canada, and Mexico and reported FY2025 revenue of approximately $41.4 billion. It is the largest consumer electronics retailer in the United States.
Parent Company
Founded
1966
Status
Publicly Traded
Headquarters
Who Owns Best Buy?
- Parent Company: Best Buy Co., Inc.
- Ownership Type: Brand division
- Company Type: Publicly Traded
- Stock Ticker: NYSE: BBY
| Brand | Parent Company | Ownership Type |
|---|---|---|
| Best Buy | Best Buy Co., Inc. | Brand division |
History of Best Buy
- Founded: 1966
- Founders: Richard M. Schulze, James Wheeler
Richard M. Schulze and James Wheeler founded Sound of Music in 1966 in St. Paul, Minnesota as an audio specialty store. The chain expanded through the 1970s selling stereo equipment and home audio.
In 1983 the company opened its first superstore under the Best Buy name, scaling up selection and lowering prices to compete with mass retailers. It went public in 1985. Through the 1990s Best Buy expanded nationally, adopting a warehouse-style format that made it a dominant big-box electronics retailer. Key additions included the 2001 acquisition of Future Shop in Canada and the 2002 acquisition of Geek Squad, which built the technical services business.
The defining challenge came after 2010 as Amazon's growth hollowed out electronics retail and competitor Circuit City collapsed. Under CEO Hubert Joly, the "Renew Blue" turnaround launched in 2012 focused on price matching Amazon, improving stores, and expanding services. The strategy worked, restoring comparable sales growth and stabilizing the business.
Under Corie Barry, CEO since 2019, Best Buy has pushed further into services, health tech, and digital channels. The company shrank its store footprint while keeping over 1,000 locations, and in 2026 launched a third-party online marketplace that expanded its online assortment roughly sixfold, alongside AI-powered search features.
Best Buy's scale, vendor relationships, and Geek Squad services have made it the sole surviving national big-box consumer electronics chain in the US, a position it has held since Circuit City's 2008 liquidation.
About Best Buy Co., Inc.
Is Best Buy publicly traded?
Yes. Best Buy Co., Inc. is publicly traded on the New York Stock Exchange under ticker symbol BBY. The company has been publicly traded since its IPO in 1985. Major institutional shareholders include Vanguard Group, BlackRock, and State Street. No single shareholder holds a controlling stake.
What is Best Buy's revenue?
Best Buy reported FY2025 revenue of approximately $41.4 billion for the fiscal year ended February 2025. In Q3 FY2026, the company reported domestic revenue of $8.88 billion (up 2.1 percent) and international revenue of $794 million (up 6.1 percent). The company raised its full-year adjusted diluted EPS guidance to $6.25 to $6.35 for FY2026.
Who is Best Buy's CEO?
Corie Barry serves as CEO of Best Buy Co., Inc. She succeeded Hubert Joly in 2019 and has led the company's digital transformation initiatives, marketplace launch, and strategic focus on customer experience and emerging technology categories.
What is Geek Squad?
Geek Squad is Best Buy's technical service brand, providing installation, repair, and support services for electronics and technology products. Geek Squad services are available in-store, in-home, and remotely. The service creates a competitive advantage by differentiating Best Buy from pure-play online retailers and generating recurring revenue.
How many stores does Best Buy operate?
Best Buy operates over 1,000 stores worldwide, primarily across the United States, Canada, and Mexico. The company operates various store formats including large-format Best Buy stores, Best Buy Mobile stores, and specialized Magnolia Audio Video locations.
What is Best Buy's digital strategy?
Best Buy's digital strategy centers on marketplace expansion, AI-powered search implementation, and omnichannel integration. The company launched its third-party marketplace in 2026, expanding its online assortment sixfold. AI-powered search features are being rolled out on the website and app to improve product discovery. Domestic online revenue represents 31.8 percent of total domestic revenue.
Who founded Best Buy?
Best Buy was founded in 1966 by Richard M. Schulze and James Wheeler as Sound of Music, an audio specialty store in St. Paul, Minnesota. The company was renamed Best Buy in 1983 when it opened its first superstore concept. The company went public in 1985.
- Founded: 1966
- Headquarters: Richfield, Minnesota, USA
- Company Type: Publicly Traded
- Stock: NYSE: BBY
- Revenue: approximately $41.4 billion (FY2025, year ended February 2025)
- Employees: Approximately 90,000
Where Is Best Buy Made / Based?
- Headquarters: Richfield, Minnesota, USA
Best Buy Categories & Tags
Best Buy Sustainability & Ethics
Best Buy Co., Inc. has committed to carbon neutrality by 2040 and set science-based targets for a 75% emissions reduction by 2030 from a 2009 baseline. Nearly 69% of supply chain facilities have achieved TRUE zero waste certification, and the company has pledged to help customers save $5 billion in energy costs by 2030 through ENERGY STAR products.
The company has appeared on the CDP Climate A List for seven consecutive years and the Dow Jones Sustainability Index for 13 consecutive years. It is not a Certified B Corporation.
These commitments apply to the corporate entity; the Best Buy retail brand itself does not hold separate certifications.
Best Buy Recalls & Controversies
As a retailer rather than manufacturer, Best Buy's controversies center on business practices rather than product recalls, though the company does execute manufacturer recalls at retail.
Warranty practices: Best Buy has faced criticism over Geek Squad Protection Plan pricing and terms, with consumer advocates questioning the value of extended coverage relative to manufacturer warranties. A 2024 Consumer Financial Protection Bureau review led to enhanced disclosure requirements.
Data security: A 2023 data breach exposed customer information and triggered state attorney general scrutiny and required remediation of security practices.
Labor and sales practices: The company has faced criticism over sales incentive structures and warehouse working conditions, issues common to large retail employers rather than unique to Best Buy.
E-waste: Environmental groups have pushed Best Buy to expand its electronics recycling program, arguing the largest US electronics retailer should bear more responsibility for end-of-life product management. The company has expanded recycling initiatives in response.
Brands Owned by Best Buy Co., Inc.
Retail EcommerceBest Buy Canada
Owned by Best Buy Co., Inc.
Canadian retail operations of Best Buy Co., Inc., running electronics stores and e-commerce in Canada following the 2001 acquisition of Future Shop.
electronics-retailcanadabest-buy
Retail EcommerceBest Buy Mexico
Owned by Best Buy Co., Inc.
Mexican retail operations of Best Buy Co., Inc., running electronics stores and e-commerce in Mexico as part of the retailer's international segment.
electronics-retailmexicobest-buy
Retail EcommerceBest Buy Mobile
Owned by Best Buy Co., Inc.
Mobile phone retail format of Best Buy Co., Inc., operating specialized phone stores and in-store mobile departments as part of Best Buy's consumer electronics retail network.
mobile-retailsmartphonesbest-buy
Technology SoftwareGeek Squad
Owned by Best Buy Co., Inc.
American technical support and repair service providing computer repair, device setup, and technology assistance through in-store, in-home, and remote support services.
tech-supportcomputer-repairdevice-setup
Consumer ElectronicsMagnolia Audio Video
Owned by Best Buy Co., Inc.
American premium home theater and audio equipment brand operated by Best Buy. Specializes in high-end audio systems, home theater installations, and custom home integration. Operates as Magnolia Design Centers within select Best Buy stores. Founded in 1967 as Magnolia Hi-Fi. Acquired by Best Buy in 2000 for $87 million.
home-theateraudio-equipmentpremium-audio
Best Buy Ownership: Pros & Cons
Advantages
- +Market leadership as the largest US consumer electronics retailer
- +Services moat through Geek Squad creates recurring revenue and differentiation
- +Omnichannel model leverages over 1,000 stores as fulfillment and experience assets
- +Strong supplier relationships provide access to new products and favorable terms
- +Marketplace expansion grows assortment without inventory risk
Considerations
- -Amazon and online competition compress margins and traffic
- -Discretionary electronics purchases are sensitive to economic cycles
- -Showrooming pressure persists despite price matching
- -Warranty and data practices attract regulatory and consumer scrutiny
- -Marketplace expansion risks supplier friction and platform quality control
Frequently Asked Questions About Best Buy
Sources & Further Reading
Competitors to Best Buy
These competing brands operate in the same categories and provide similar products or services. Compare key attributes to understand market positioning and competitive landscape.
| Brand | Parent Company | Country | Founded | Market Position | Primary Market | Gender Target |
|---|---|---|---|---|---|---|
| Best Buy | Canada | 2001 | Mass market | Regional | All-ages | |
| Best Buy | Mexico | 2008 | Mass market | Regional | All-ages | |
| Home Depot | USA | 1978 | Market leader | United states | All-consumers | |
| Best Buy | USA | 2009 | Mass market | United states | All-ages | |
| Albertsons | USA | 1891 | Regional leader | United states | All-consumers | |
| Albertsons | USA | 1939 | Market leader | United states | All-consumers |
Learn More About Competitors
Retail EcommerceBest Buy Canada
Owned by Best Buy Co., Inc.
Canadian retail operations of Best Buy Co., Inc., running electronics stores and e-commerce in Canada following the 2001 acquisition of Future Shop.
electronics-retailcanadabest-buy
Retail EcommerceBest Buy Mexico
Owned by Best Buy Co., Inc.
Mexican retail operations of Best Buy Co., Inc., running electronics stores and e-commerce in Mexico as part of the retailer's international segment.
electronics-retailmexicobest-buy
Retail EcommerceThe Home Depot
Owned by The Home Depot Inc.
The flagship big-box home improvement retail brand of The Home Depot Inc., founded in 1978 and operating about 2,350 orange-box warehouse stores across North America.
home-improvementretailbig-box
Retail EcommerceBest Buy Mobile
Owned by Best Buy Co., Inc.
Mobile phone retail format of Best Buy Co., Inc., operating specialized phone stores and in-store mobile departments as part of Best Buy's consumer electronics retail network.
mobile-retailsmartphonesbest-buy
Retail EcommerceACME Markets
Owned by Albertsons Companies, Inc.
Albertsons Companies' Philadelphia-region grocery banner, a Northeast supermarket chain since 1891.
grocery-bannersupermarketgrocery
Retail EcommerceAlbertsons
Owned by Albertsons Companies, Inc.
The flagship grocery banner of Albertsons Companies, operating supermarkets across the Western and Southwestern United States.
grocery-bannersupermarketgrocery
Competitive Analysis
Market Positioning: Best Buy competes with 6 brands in the same categories, ranging from mass market to luxury positioning.
Geographic Distribution: Competitors are headquartered across multiple regions, indicating global competition in this market segment.
Brand Heritage: Competitor brands range from established heritage brands to newer market entrants, with founding years spanning several decades.
Independent Alternatives to Best Buy
Looking for brands with different ownership structures? These similar brands are not owned by Best Buy Co., Inc., giving you alternative choices that support different corporate structures.
Retail EcommerceJoann
Owned by Joann Inc.
American fabric and craft supplies retailer offering sewing, quilting, and DIY materials and supplies.
fabriccraftssewing
Privately Owned
Joann is privately owned, unlike Best Buy which is under a publicly traded parent company.
Retail EcommerceAmazon
Owned by Amazon.com Inc.
American e-commerce marketplace launched in 1995 by Jeff Bezos. The flagship retail brand of Amazon.com Inc. and the largest online retailer in the United States.
ecommerceonline-marketplaceretail
Publicly Traded
Amazon operates independently without a large parent corporation.
Retail EcommerceFamily Dollar
Owned by Family Dollar
American discount variety store chain offering affordable household items, merchandise, and general goods. Founded in 1959, Family Dollar operates approximately 7,100 stores across the United States. Sold by Dollar Tree in July 2025 to Brigade Capital Management and Macellum Capital Management.
discount-retailvariety-storemerchandise
Privately Owned
Family Dollar is privately owned, unlike Best Buy which is under a publicly traded parent company.
Retail EcommerceAsda
Owned by EG Group
British supermarket chain offering groceries, clothing, and general merchandise, owned by TDR Capital and the Issa brothers since 2021.
supermarketgroceryretail
Privately Owned
Asda is privately owned, unlike Best Buy which is under a publicly traded parent company.
Retail EcommerceBig Lots
Owned by Variety Wholesalers, Inc.
American discount retail chain offering furniture, home décor, seasonal items, and general merchandise.
discount-retailfurniturehome-decor
Privately Owned
Big Lots is privately owned, unlike Best Buy which is under a publicly traded parent company.
Retail EcommerceMacy's
Owned by Macy's, Inc.
America's largest department store brand, founded in 1858, operating approximately 430 stores and the flagship Herald Square location.
department-storeretailfashion
Publicly Traded
Macy's operates independently without a large parent corporation.
Best Buy Co., Inc. Stock Information
Jobs at Best Buy Co., Inc.
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