Best Buy

US-ECONOMY-SHOPPING-HOLIDAY-BLACKFRIDAY
Consumers shop in a Best Buy store in Fairfax, Virginia on November 26, 2015, on a Black Friday sale that started a day earlier during Thanksgiving evening. The US holiday shopping season kicks off with "Black Friday" -- the day after the Thanksgiving holiday -- with a frenzy expected at stores around the country as retailers slash prices. AFP PHOTO/PAUL J. RICHARDS / AFP / PAUL J. RICHARDS (Photo credit should read PAUL J. RICHARDS/AFP/Getty Images)Paul J. Richards — AFP/Getty Images
  • Previous Rank
    244
  • Revenues ($M)
    39403
  • Revenue Percent Change
    -0.9
  • Profits ($M)
    1228
  • Profits Percent Change
    36.9
  • Assets ($M)
    13856
  • Employees
    125000

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.

Company Information

CEOHubert B. Joly
SectorRetailing
IndustrySpecialty Retailers
HQ LocationRichfield, MN
Websitewww.bestbuy.com
Years on Global 500 List19
Employees125,000

Key Financials (Last Fiscal Year)

Revenues ($M)$39,403
Profits ($M)$1,228
Assets ($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%