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
| CEO | Hubert B. Joly |
| Sector | Retailing |
| Industry | Specialty Retailers |
| HQ Location | Richfield, MN |
| Website | www.bestbuy.com |
| Years on Global 500 List | 19 |
| Employees | 125,000 |
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 Revenues | 3.1% |
| Profits as % of Assets | 8.9% |
| Profits as % of Stockholder Equity | 26.1% |
