Best Buy

Nation's largest chain of electronics stores.

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Company Profiles

Headquarters: 7601 Penn Avenue South
Richfield, MN 55423
Employees: 125,000
CEO: Corie Barry
Stock Symbol: BBY

Website: http://www.bestbuy.com

Career Site

Best Buy is the nation's largest specialty retailer of electronics, computers and appliances with stores located in major malls across America.

Best Buy has 1,187 large-format stores and 51 small-format stores in the U.S., Mexico and Canada.

Best Buy has special sections featuring Apple, Samsung and Microsoft products. In fiscal 2019, five suppliers -- Apple, Samsung, Hewlett-Packard, Sony and LG -- represented 51% of merchandise purchased.

In fiscal 2019, the company reported revenues of $42.87 billion, a slight increase from the previous year at $42.1 billion, and net income of $1.46 billion.

Most of the company's sales come during the holiday fourth quarter.

Best Buy closed its Best Buy Mobile stores in 2018. In October 2018, Best Buy acquired Great Call, a heatlh services provider that helps elderly customers obtain easy-to-use mobile products and connected services.

History

Originally founded in 1969 by Richard Schulze and a business partner with the first Sound of Music store in St. Paul, MN. The Sound of Music had 9 stores in the Minnesota area and initially sold stereo products. It expanded into video products and then photography, home office products and TVs. In 1983, the company changed its name to Best Buy and opened its first superstore in Burnsville, MN.

The company went public on the Nasdaq in 1985.

In May 2008, Best Buy paid $2.1 billion to acquire 50% of Carphone Warehouse, a British retailer of mobile phones.

Benefits

Best Buy benefits coverage is available to employees, spouses, domestic partners and dependants. The full-time benefits offered are grouped together into three areas: Health and Wealth programs and Other Rewards.

The Health benefits include medical, dental, vision, life insurance, disability and health and dependent care spending account programs. The Wealth benefits include 401(k) and the Employee Stock Purchase Plan. Best Buy also offers an array of Other Rewards including time-off programs, employee discount, tuition assistance, vendor accommodation programs and more.

Updated December 7, 2019

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