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Global 500

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258

Best Buy

BBY

U.S.

This year, Best Buy retired “Renew Blue,” the strategy it credits with transforming its sales, enlivening the store and customer support experiences, and stiff-arming the Cassandras who have been waiting to call time of death on the big-box electronics retailer for years. Its recent fiscal year was the third in a row that the company grew its domestic comparable sales; its non-GAAP operating income grew from 3.4% in fiscal year 2013 to 4.5% in fiscal year 2017. In March, the company launched a new strategy called “Building the New Blue: Best Buy 2020,” an attempt to leverage its new stability into the next best Blue. With an emphasis on multi-channel retail and specific investments in smart home, appliances, and home security, the company also hopes to deepen its international business through e-commerce, store remodels in Canada, and new stores in Mexico.

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CEO

Hubert B. Joly

Sector

Retailing

Industry

Specialty Retailers

HQ Location

Richfield, MN

Years on Global 500 List

19

Employees

125,000

Figures are for fiscal year ended Jan. 31, 2017.
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Key Financials (Last Fiscal Year)
($ Millions)% change
Revenues ($M)$39,403-0.9%
Profits ($M)$1,228.036.9%
Assets ($M)$13,856
Total Stockholder Equity ($M)$4,709
Profit Ratios
Profit as % of Revenues3.1%
Profits as % of Assets8.9%
Profits as % of Stockholder Equity26.1%
STOCK QUOTE
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