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.

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.

Best Buy has established comprehensive sustainability and ethics initiatives focused on environmental responsibility, social impact, and ethical business practices in the consumer electronics retail industry. The company is recognized as an environmental leader for its ongoing work to reduce its impact on the planet through innovative programs and ambitious climate commitments.

Environmental Leadership and Climate Action

Best Buy has committed to becoming carbon neutral by 2040 and has set science-based targets for reducing its carbon emissions by 75% by 2030 from a 2009 baseline. The company's reduction targets adhere to Science Based Targets initiative (SBTi) requirements, aligning with the global goal of keeping temperature increases below 2°C. Best Buy sources renewable electricity where feasible to power its operations and has implemented comprehensive energy efficiency programs across its stores and facilities.

Circular Economy and Waste Reduction

The company is committed to certifying all supply chain locations as TRUE zero waste by 2025, with nearly 69% of supply chain facilities already achieving zero waste TRUE certification. Best Buy focuses on designing waste, pollution, and inefficiencies out of its business model through circular economy principles. The company's waste reduction programs include electronics recycling, packaging optimization, and sustainable product design initiatives.

Sustainable Products and Customer Impact

Best Buy is committed to helping customers save $5 billion in energy costs by 2030 through the sales of ENERGY STAR certified products over the products' lifetime. The company provides environmentally preferable products and services, educating customers about energy-efficient electronics and sustainable technology choices. Best Buy's product sustainability initiatives focus on extending product lifecycles and promoting responsible consumption.

Water Conservation and Resource Management

Best Buy has committed to reducing enterprise water usage by 15% by 2025, implementing water conservation programs across its operations. The company addresses resource management through efficient facility operations, sustainable procurement practices, and responsible supply chain management. Best Buy works with suppliers to ensure responsible sourcing of raw materials, particularly conflict minerals and precious metals used in electronics manufacturing.

Social Responsibility and Ethics

Best Buy maintains strong ethical standards and corporate governance practices across its global operations. The company's social responsibility programs focus on employee development, community engagement, and customer service excellence. Best Buy has been recognized for its commitment to diversity, inclusion, and workplace equality, creating opportunities for employees from diverse backgrounds.

Best Buy has received extensive recognition for its leadership in environmental sustainability, corporate responsibility, and ethical business practices, reflecting its position as a responsible leader in the consumer electronics retail industry.

Environmental and Sustainability Recognition

• CDP Climate A List (7th consecutive year): Recognition for climate change disclosure and action leadership, demonstrating Best Buy's comprehensive climate strategy and emissions reduction progress
• Dow Jones Sustainability Index (13th consecutive year): Inclusion among the world's most sustainable companies for environmental, social, and governance performance
• Barron's Most Sustainable Companies: Recognition as a leading sustainable company for environmental initiatives and climate action commitments
• FTSE4Good Index (10th consecutive year): Recognition for meeting global ESG standards and corporate responsibility practices
• ENERGY STAR Partner of the Year (11th year): Recognition from the U.S. Environmental Protection Agency for energy efficiency leadership and sustained excellence

Corporate Ethics and Governance Awards

• Ethisphere World's Most Ethical Companies (10-time honoree): Recognition for ethical business practices, corporate governance, and compliance programs
• MSCI ESG Research AAA Rating: Highest possible ESG rating score, demonstrating exceptional environmental, social, and governance performance
• JUST Capital America's Most JUST Companies (No. 1 in Retail): Recognition for corporate responsibility and stakeholder treatment leadership

Workplace and Diversity Recognition

• Disability Equality Index (5th consecutive year): Recognition as a best place to work for disability inclusion and accessibility
• ParityLIST Best Companies for Equal Advancement Opportunity: Recognition for diversity, equity, and inclusion initiatives and equal advancement opportunities

Career Development Recognition

• American Opportunity Index Best Places for High School Graduates: Recognition as an excellent career starting place for recent high school graduates, highlighting Best Buy's commitment to employee development and career opportunities

Best Buy has faced regulatory scrutiny and public controversy related to warranty practices, extended protection plans, data privacy, and competitive dynamics in the retail electronics market.

Warranty and extended protection plan controversies have been significant challenges for Best Buy. The company has faced criticism regarding the pricing and terms of its Geek Squad Protection Plans and extended warranty offerings. Consumer advocacy groups have questioned whether these plans provide adequate value relative to their cost, with some investigations suggesting that customers may be paying for coverage that duplicates manufacturer warranties. In 2024, the Consumer Financial Protection Bureau examined Best Buy's warranty disclosure practices, leading to enhanced transparency requirements for plan terms and conditions.

Data privacy and security incidents have drawn regulatory attention. In 2023, Best Buy experienced a data breach that exposed customer information, leading to investigations by state attorneys general and increased scrutiny of the company's cybersecurity practices. The incident required Best Buy to provide identity protection services to affected customers and implement enhanced security measures across its digital platforms.

Labor practice controversies have included questions about employee compensation and working conditions. In 2024, Best Buy faced scrutiny regarding its commission structure for sales associates, with some former employees alleging that the company's compensation policies incentivized unnecessary service add-ons. The company has also faced questions about warehouse worker safety and compensation practices at its distribution centers.

Competitive dynamics and antitrust concerns have emerged as Best Buy expands its marketplace operations. Traditional electronics manufacturers and smaller retailers have raised concerns about Best Buy's marketplace potentially favoring its own products over third-party sellers. The Federal Trade Commission has monitored Best Buy's marketplace practices to ensure fair competition and transparent pricing for consumers.

Environmental and sustainability controversies include questions about electronic waste disposal and product lifecycle management. Environmental groups have criticized Best Buy's electronics recycling program, arguing that the company should take more responsibility for the end-of-life management of products it sells. Best Buy has responded by expanding its recycling initiatives and setting more ambitious sustainability targets.