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Best Buy Co., Inc. operates in the U.S. and Canada, focusing on retailing consumer electronics and related services. The company is divided into two segments: Domestic, which includes all U.S. operations and Best Buy Health, and International, which covers Canadian operations . Best Buy offers a wide range of products, including computing and mobile phones, consumer electronics, appliances, entertainment, and services, and emphasizes its exclusive brands like Best Buy Essentials, Dynex, and Insignia .
- Computing and Mobile Phones - Offers a variety of computing devices and mobile phones, catering to both personal and professional needs.
- Consumer Electronics - Provides a broad selection of electronic devices, including televisions, audio systems, and cameras.
- Appliances - Sells major household appliances such as refrigerators, washers, and ovens.
- Entertainment - Features a range of entertainment products, including video games, movies, and music.
- Services - Delivers various services, including installation, repair, and technical support for electronic devices.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Corie S. Barry ExecutiveBoard | Chief Executive Officer (CEO) | Board Member at Domino’s Pizza, Inc.; Trustee at College of St. Benedict; Member of Business Roundtable, Business Council, Retail Industry Leaders Association, and Minnesota Business Partnership. | Joined BBY in 1999; became CEO in 2019; previously CFO and Chief Strategic Transformation Officer; led Best Buy’s transformation and growth strategy. | View Report → |
Damien Harmon Executive | SEVP, Customer, Channel Experiences & Enterprise Services | Board Member at Driven Brands and Petco Love Foundation. | Joined BBY in 2005; oversees customer experience, Geek Squad, and in-home services; previously EVP of Omnichannel and President of Operations. | |
Jason Bonfig Executive | SEVP, Customer Offerings and Fulfillment | Board Member of Best Buy Foundation. | Joined BBY in 1999; oversees merchandising, supply chain, and marketing; previously Chief Category Officer and Senior Vice President for various product categories. | |
Kamy Scarlett Executive | SEVP, Human Resources, Corporate Affairs, and Canada | Board Member of Best Buy Foundation. | Joined BBY in 2014; oversees HR and Canadian operations; previously President of U.S. Retail Stores and SVP of Retail and HR for Best Buy Canada. | |
Mathew R. Watson Executive | SVP, Controller, and Chief Accounting Officer | Board Member of Achieve Twin Cities and Best Buy Foundation. | Joined BBY in 2005; oversees financial operations and external reporting; previously VP, Finance, Domestic Controller. | |
Matt Bilunas Executive | Chief Financial Officer (CFO) | Board Member at Genesco, Inc.. | Joined BBY in 2006; became CFO in 2019; previously Senior Vice President of Enterprise and Merchandise Finance; key leader in Best Buy’s transformation efforts. | |
Todd G. Hartman Executive | General Counsel and Chief Risk Officer | Chair of Best Buy Foundation; Treasurer of Retail Litigation Center; Board Member of Guthrie Theater and Trademark Theater. | Joined BBY in 2006; oversees legal, risk, and compliance functions; previously Deputy General Counsel and Chief Compliance Officer. | |
David C. Kimbell Board | Director | CEO and Board Member of Ulta Beauty, Inc.. | Joined BBY Board in 2023; expertise in retail and marketing; previously held leadership roles at U.S. Cellular, Seventh Generation, and PepsiCo. | |
David W. Kenny Board | Director | Executive Chairman at Nielsen. | Joined BBY Board in 2013; expertise in data, analytics, and technology; previously CEO of Nielsen and SVP of IBM Watson. | |
Karen A. McLoughlin Board | Director | Board Member at Agilon Health, Inc.. | Joined BBY Board in 2015; expertise in finance and transformation; previously CFO at Cognizant Technology Solutions. | |
Lisa M. Caputo Board | Director | EVP of Marketing, Communications, and Customer Experience at Travelers Companies, Inc.. | Joined BBY Board in 2009; expertise in marketing, communications, and corporate responsibility; previously held senior roles at Citigroup and founded Citi’s Women & Co.. | |
Mario J. Marte Board | Director | CFO of Chewy, Inc.. | Joined BBY Board in 2021; expertise in finance and e-commerce; led Chewy’s IPO in 2019. | |
Melinda D. Whittington Board | Director | CEO and Board Member of La-Z-Boy Incorporated; Dean’s Advisory Council Member at The Ohio State University. | Joined BBY Board in 2023; expertise in finance and global operations; previously CFO at La-Z-Boy and Allscripts Healthcare Solutions. | |
Sima D. Sistani Board | Director | CEO and Board Member of WW International, Inc.. | Joined BBY Board in 2023; expertise in media and technology; previously CEO of Houseparty and held leadership roles at Yahoo! and Tumblr. | |
Steven E. Rendle Board | Director | None. | Joined BBY Board in 2021; expertise in retail and brand management; previously Chairman, President, and CEO of VF Corporation. |
- Given the expected slowdown in profit improvement from your services and membership categories next year, particularly as you have lapped the changes to your membership offerings, how do you plan to sustain growth and profitability in this segment?
- With the anticipation that product margin rates will be a larger pressure in the fourth quarter compared to the third, can you elaborate on the specific factors contributing to this decline and how you intend to mitigate its impact on overall gross profit rates?
- As you have increased advertising and technology expenses, resulting in higher SG&A dollars excluding the benefit from the extra week last year, how are you balancing these increased costs with the need to improve SG&A leverage amid softer revenue performance?
- Considering the complexities and potential risks associated with tariffs and your sourcing exposure to China and Mexico, especially for the 2% to 3% of products where you are the importer of record, what specific strategies are you implementing to mitigate these risks and manage supply chain disruptions?
- In light of the highly promotional environment and inconsistencies in promotional effectiveness, how are you adjusting your pricing and promotional strategies to protect margins while ensuring you remain competitive and meet the value expectations of consumers?
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Two Peaks, LLC d/b/a Yardbird Furniture | 2021 | Best Buy acquired an outdoor furniture company for approximately $85 million, with the acquisition completed on November 4, 2021 and results included in Q4 fiscal 2022 consolidated financials. |
Current Health Ltd. | 2021 | Best Buy acquired this care-at-home technology platform for about $400 million, completed on November 2, 2021 to enhance its virtual care strategy by integrating remote patient monitoring, telehealth, and patient engagement solutions, including FDA-cleared wearable devices. |
Recent press releases and 8-K filings for BBY.
- Expanded tariffs imposed by President Trump are driving higher costs for U.S. retailers like Best Buy, leading to consumer price increases and narrow retail margins.
- Retailers find absorbing tariff costs unsustainable, signaling inevitable price hikes and further margin erosion if costs cannot be passed on.
- U.S. manufacturing has seen a sharp drop in production and new orders, compounding economic uncertainty for consumer electronics supply chains.
- Companies are diversifying supply chains and pursuing legal challenges to mitigate prolonged tariff-related disruptions.
- Best Buy reported Q1 revenue of $8.77 billion, a 0.7% decline in comparable sales, and adjusted EPS of $1.15, all missing analyst estimates.
- Lowered fiscal 2026 guidance to $41.1–$41.9 billion in sales and $6.15–$6.30 in adjusted EPS, citing tariff uncertainty from China and Mexico.
- Fiscal 2026 adjusted operating income rate is expected at ~4.2%, with Q2 forecast at ~3.6%.
- Shares fell about 8% following the results, and management will invest in digital, marketplace, and advertising initiatives to mitigate pressures.
- Best Buy Co., Inc. entered into a new $1.25 billion five-year senior unsecured revolving credit facility on April 18, 2025, replacing its previous credit facility, which was terminated on the same day.
- The agreement, with U.S. Bank National Association as administrative agent and a syndicate including Bank of America, Citibank, and PNC Capital Markets as key arrangers, provides variable interest rates based on benchmarks such as U.S. Bank’s prime rate and adjusted term SOFR, and includes an associated facility fee.