Best Buy Co., Inc.
American multinational consumer electronics retailer that sells technology products, services, and solutions through physical stores and e-commerce platforms.
Company Type
public
Founded
1966
Headquarters
Richfield, Minnesota, USA
Stock
NYSE: BBY
About Best Buy Co., Inc.
Best Buy delivered strong Q3 2026 results, reporting comparable sales growth of 2.7%, exceeding expectations. The company reported adjusted diluted EPS of $1.40 and GAAP diluted EPS of $0.66 for the quarter. Best Buy raised its full-year adjusted diluted EPS guidance to $6.25 to $6.35, reflecting strong performance.
CEO Corie Barry highlighted better-than-expected sales and adjusted operating income rate, with strong results across computing, gaming, and mobile phones. The company delivered sales growth across both online and stores, improved customer experience ratings, and successfully launched its Best Buy Marketplace.
For Q3 2026, domestic revenue reached $8.88 billion, increasing 2.1% versus the previous year, driven by 2.4% comparable sales growth. Domestic online revenue of $2.82 billion increased 3.5% on a comparable basis, representing 31.8% of total domestic revenue.
International revenue of $794 million increased 6.1% versus the previous year, driven by 6.3% comparable sales growth and revenue from Best Buy Express locations. The company's performance demonstrated resilience in core categories while adapting to changing consumer preferences.
History of Best Buy Co., Inc.
Best Buy Co., Inc. 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 expanded throughout the 1970s and 1980s, adding video equipment and other consumer electronics.
In 1983, the company opened its first "superstore" concept under the Best Buy name, featuring a wide selection of consumer electronics and appliances. The company went public in 1985 and continued expanding through organic growth and acquisitions.
Throughout the 1990s and 2000s, Best Buy grew through acquisitions including Future Shop (Canada), Geek Squad (technical services), and Magnolia (high-end audio/video). The company became the largest consumer electronics retailer in the United States.
Under various CEOs, Best Buy has adapted to changing retail landscapes, competition from online retailers, and evolving consumer technology preferences. The company has invested in e-commerce, services, and omnichannel capabilities to maintain its competitive position.
Brands Owned by Best Buy Co., Inc.
Best Buy Co., Inc. owns 2 brands in our database.
Geek 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
Magnolia Audio Video
Owned by Best Buy Co., Inc.
American premium home theater and audio equipment retailer specializing in high-end audio systems, home theater installations, and custom home integration solutions.
home-theateraudio-equipmentpremium-audio
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Stock Information
Best Buy Co., Inc. Ownership: Pros & Cons
Advantages
- +Strong Q3 2026 performance with 2.7% comparable sales growth
- +Market leadership position as largest consumer electronics retailer in the U.S.
- +Advanced digital transformation with marketplace launch and AI-powered search
- +Integrated services through Geek Squad creating customer loyalty
- +Strong supplier relationships and exclusive product offerings
- +Omnichannel capabilities combining physical stores and digital platforms
- +Raised full-year guidance reflecting strong operational performance
Considerations
- -Competition from online retailers like Amazon and direct-to-consumer brands
- -Economic sensitivity affecting big-ticket electronics purchases
- -Showrooming challenges where customers browse in-store but buy online
- -Need for continuous innovation in retail experience and technology
- -Margin pressures in competitive electronics market
- -Foreign exchange impacts on international operations
- -Adapting to rapidly changing consumer technology preferences
Frequently Asked Questions About Best Buy Co., Inc.
Is Best Buy Co., Inc. 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, allowing investors to purchase shares and own a portion of the company.
What were Best Buy's Q3 2026 financial results?
Best Buy reported Q3 2026 comparable sales growth of 2.7%, exceeding expectations. Adjusted diluted EPS was $1.40, and the company raised its full-year adjusted diluted EPS guidance to $6.25 to $6.35. Domestic revenue reached $8.88 billion, up 2.1% from the previous year.
Who is Best Buy's CEO?
Corie Barry serves as Chief Executive Officer of Best Buy Co., Inc. Barry has led the company's digital transformation initiatives, marketplace launch, and strategic focus on customer experience and emerging technology categories.
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 and is rolling out AI-powered search features to enhance the customer shopping experience.
What is Geek Squad?
Geek Squad is Best Buy's famous 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, creating a competitive advantage in customer experience.
How many stores does Best Buy operate?
Best Buy operates more than 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.
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