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Investor relations

Mollie O’Brien

Best Buy Co., Inc.

7601 Penn Ave S.

Richfield, MN 55423

(866) 758-1457
[email protected]

Other contacts

Customer Service: (888) 237-8289

Best Buy Corporate Office: (612) 291-1000

Media Inquiries: (612) 231-5146 or [email protected]

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Direct Stock Purchase Plan

For more information about Best Buy’s Dividend Reinvestment Plan and Direct Stock Purchase Program, please contact our plan administrator:

Broadridge DSP

c/o Broadridge Shareholder Services

P. O. Box 1342

Brentwood, NY 11717

844-318-0131 or 720-358-3627
http://shareholder.broadridge.com/bby

Stock Transfer Agent

For questions about stock certificates – replacing lost certificates, changing address, changing the name on certificates or transferring ownership – please contact our transfer agent:

Broadridge Corporate Issuer Solutions, Inc.

P.O. Box 1342, Brentwood, NY 11717

844-318-0131 or 720-358-3627
[email protected]

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Best Buy Co Inc Company Profile – Best Buy Co Inc Overview

Best Buy Co Inc (Best Buy) is a multi-national retailer of electronic products. The company’s product offerings include consumer electronics, computing and mobile phones, appliances, entertainment products, home office products. It also offers services such as consultation, design, set-up, technical support, warranty related services, heath related services and memberships, educational classes, delivery and installation for home theater, mobile audio and appliances. Best Buy markets its products under Best Buy, Future Shop, Geek Squad, Magnolia, Best Buy Mobile, Dynex, Platinum, Yellow Tag, Insignia, Pacific Sales, Rocketfish, Modal and My Best Buy brand names. Best Buy merchandises products at retail stores, online, mobile applications and through call centers. The company’s operations across the US, Canada, and Mexico. Best Buy is headquartered in Richfield, Minnesota, the US.





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Headquarters
United States of America



Address
7601 Penn Avenue South, Richfield, Minnesota, 55423



Website


www. bestbuy.com



Telephone
1 612 2911000



No of Employees
90,000



Industry
Retailing



Ticker Symbol & Exchange
BBY (NYSE)



Revenue (2023)
$46.3B


9.5%

(2023 vs 2022)



EPS
XYZ



Net Income (2023)
XYZ


36. 5%

(2023 vs 2022)



Market Cap*
$18.1B



Net Profit Margin (2023)
XYZ


-35.4%

(2023 vs 2022)




* As of and is in US$



View Best Buy Co Inc financials

60+



Retail Market Data Insights

Insight into market share and brand performance.

7



IT Services Contracts

Improve competitive bidding with insights into all publicly disclosed IT services contracts for Best Buy Co Inc (including IT outsourcing, business process outsourcing, systems integration & consulting and more).

1



ICT Spend & Tech Priorities

IT Client Prospector provides intelligence on Best Buy Co Inc’s likely spend across technology areas enabling you to understand the digital strategy.

Products and Services








Products Services Brands
Consumer Electronics: Consultation Best Buy
TV Sets Design Geek Squad
Digital Imaging Health-related Services Magnolia
XYZ XYZ XYZ
XYZ XYZ XYZ
XYZ XYZ XYZ





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Understand Best Buy Co Inc portfolio and identify potential areas for collaboration



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History

History section provides information on new products, mergers, acquisitions, expansions, approvals, and many more key events.









Year Event Description
2023 Contracts/Agreements In July, the company entered into a partnership with The White House to secure devices from cyberattacks.
2023 Contracts/Agreements In June, the company and Citi collaborated to offer the Bridge built by Citi platform to small-and medium-sized suppliers.
2023 Contracts/Agreements In March, the company entered into an agreement with Roku under which Roku will sell its smart TVs at Best Buy locations and website.





Dive into past operations, including product releases, deals, acquisitions & more


Dive into past operations, including product releases, deals, acquisitions & more



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Competitor Comparison








Key Parameters Best Buy Co Inc Walmart Inc Costco Wholesale Corp Target Corp Transform SR Brands LLC
Headquarters United States of America United States of America United States of America United States of America United States of America
City Richfield Bentonville Issaquah Minneapolis Hoffman Estates
State/Province Minnesota Arkansas Washington Minnesota Illinois
No. of Employees 90,000 2,100,000 304,000 440,000 89,000
Entity Type Public Public Public Public Private





Benchmark the company against the market with exclusive information on key competitors


Benchmark the company against the market with exclusive information on key competitors



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Key Financial Charts

Sales Growth


Net Income Growth








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Chart Financial activity with access to more key stats



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Executives











Name Position Board Since Age
J. Patrick Doyle
Chairman
Executive Board 2020 59
Corie S. Barry
Chief Executive Officer; Director
Executive Board 2019 48
Matt Bilunas
Senior Executive Vice President – Enterprise Strategy; Chief Financial Officer
Senior Management 2019 50
Todd G. Hartman
Chief Risk Officer; General Counsel
Senior Management 2019 56
Keri Grafing
Chief Compliance Officer
Senior Management
Non Dignissim Eros Proin vel Convallis 2023 XY
Non Dignissim Eros Proin vel Convallis 2023 XY
Non Dignissim Eros Proin vel Convallis 2023 XY





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Top 5 brands in Russia

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  • Business

The list of the best brands, which was compiled for the first time for Russia by the research company Gfk, includes two Russian and three foreign companies

by GfK for the first time. Among them were two Russian and three foreign brands that won first places in five categories: Best Product Brand, Best Growing Product Brand, Best Foreign Corporate Brand, Best Russian Corporate Brand and Best Russian Product Brand. .

During the study, GfK took into account not only the market performance of the brand, but also its emotional perception by the consumer. “This is not an expert assessment, but a representative study that takes into account both the commercial success of brands and the opinion of consumers,” Natalia Ignatieva, Director of Marketing and Communications at GfK Rus, explained to Forbes.

As a result, Apple, the leader of the Forbes ranking of the most valuable brands in the world, was only fifth in the Best Foreign Corporate Brand category, missing Google in first place. “It turned out that people in Russia are much more emotionally involved with Google,” says Ignatieva. And the German Bosch won in the main nomination – “Best Product Brand”. In terms of “market share” in the total calculation, it was significantly behind five competitors at once, but it turned out to be far ahead in terms of “soul share”, which GfK understands as the psychological attractiveness of the brand for Russians.

When determining the “strength of a brand”, its market achievements were taken into account (determined based on open information and GfK panel data) and the psychological attractiveness of the brand, assessed based on the results of a survey of 7250 people in Russia (for more information about the rating methodology, click here).

The organizer of the Best Brands award, Serviceplan Group, announced its winners at a ceremony in Moscow on April 9, 2019.

Best Food Brand

Bosch

German Bosch competed with Alpen Gold, Bonduelle, Canon, Lay’s, Nescafe, Samsung, Tefal, Tikkurila and FrutoNyanya in the Best Food Brand nomination. In terms of commercial success, the German brand was not among the leaders, losing to Nescafe, Tikkurila, Samsung, Bonduelle and Tefal. But it overtook its competitors due to a significant gap in psychological attractiveness for Russian consumers. The top three in terms of total indicators also included Samsung and Bonduelle.

“German brands traditionally have a good image for quality and innovation among Russians,” says Ignatieva. At Bosch itself, consumer attitudes towards a brand are associated with ongoing marketing campaigns and the emotional involvement of the audience. “For many years in a row, we have been actively supporting creative initiatives within the framework of such public events as, for example, Afisha Picnic, the purpose of which is to involve young people and reveal their creative potential,” says Andrey Krivosheev, Regional Director for Sales of Power Tools at Robert Bosch LLC . “Another example is the support of the activities of the Galchonok charitable foundation aimed at developing creative opportunities and integrating children with disabilities.”

Methodology. “Best Product Brand” is determined by two indicators. First, the commercial success of a brand is assessed, which is determined by its market share, customer preference (first choice) and price premium (the percentage by which the sale price of a product exceeds the reference price). Secondly, the attractiveness of the brand for consumers is taken into account. To do this, 5,750 people are surveyed, they are asked to rate the brand’s popularity and experience of interacting with it.

Best Growing Product Brand

Xiaomi

The main competitors of the Chinese giant in the Best Growing Product Brand category in Russia were Alpen Gold, Bosch, Huawei, Lay’s, Makita, Mr. Ricco, Nutrilon, Panasonic and Sony. Xiaomi became the first by a wide margin due to a significant increase in the company’s share in the Russian market. Behind him in this category are Panasonic and Alpen Gold.

In terms of emotional perception among Russian buyers, the Chinese brand turned out to be an obvious outsider, losing to the other nine nominees, but surpassing rivals in terms of growth rates of its market share in Russia.

Methodology . In the Best Growth Brand category, growth dynamics is a priority.

The best Russian food brand

FrutoNyanya

The baby food brand outperformed such rivals as Greenfield, Babaevsky, Goryachaya Shtushka, Dobry, Makfa, “Maheev”, “Prostokvashino”, “Russia” and “Sloboda”. In terms of financial performance, FrutoNyanya was inferior to its main competitors, Prostokvashino and Sloboda, but outperformed them in terms of the “share of the soul” (emotional and rational perception on the part of consumers). In addition, the brand’s ability to translate its power into other categories also played a role (consumer surveys asked about the willingness to buy a brand in other product segments). FrutoNyanya was favored by the assessment of the quality of its products, the brand’s ability to cause joy, its adaptation to the needs of consumers, and a good price-quality ratio. According to the totality of these criteria, FrutoNyanya won.

Marketing Director of JSC “Progress” (manufacture products under the brand “FrutoNyanya”) Anna Ivanova explains the success of the company’s ability to predict the mood and needs of the consumer. In particular, the brand began to build its positioning not only on the opportunity to help mothers, but also fathers (“today, a man in the baby food department no longer surprises anyone”). An illustrative example of strengthening the position of the FrutoNyanya brand in the children’s juice market, Ivanova called the refusal in 2017 of “cunning stories and legends” in advertising.

Best Russian Corporate Brand

Yandex

In the competition for the title of Best Russian Corporate Brand, the company created by Arkady Volozh and Ilya Segalovich overtook Mail. Ru Group, Aeroflot, VTB, Gazprom, Lukoil, MTS, Rosneft, Russian Railways and Sberbank. Yandex, Sberbank and Aeroflot have similar rational indicators. Slightly higher emotional preferences of consumers allowed Yandex to become the first. It is followed by Sberbank and Aeroflot.

The brands of Rosneft, VTB, MTS and Mail.Ru Group were at the bottom of the list of 10 nominees. In terms of emotional perception by respondents, the brands of VTB and Rosneft took the last lines. According to rational perception, VTB and MTS were at the end of the list.

Methodology. When determining the nominees in the Best Russian Corporate Brand category, open data on the commercial success of companies operating in Russia were taken into account. Brand strength was calculated from the results of an online survey of 1,500 respondents and reflects their emotional and rational perception of these companies.

The best foreign corporate brand

Google

In terms of emotional and rational perception, the image of Google turned out to be higher than that of competitors, among which were Apple, Danone, LG Electronics, Mercedes-Benz, Nestle, Pepsico, Procter and Gamble, Samsung Electronics and Toyota Motor. But the victory for the American brand was due to the greatest contribution of rational perception, stressed at GfK.

Samsung, Mercedes-Benz and Toyota are a little behind Google. The American Apple was in the top three in terms of rational brand perception in Russia (we are talking about reputation, international recognition and development), but it turned out to be only sixth in terms of emotions that the brand awakens among customers (sympathy, identification, uniqueness).

Google outperformed the competition on emotional characteristics, especially on likeability, attractiveness, and identification. “People, as the study shows, feel somewhat more close to Google, which is logical, since the company’s products are used in everyday life and this does not require a high level of income,” Ignatieva explained.

The Google press service called the launch of an assistant in Russian, the You Tube Music streaming service, the Business Class program and Google Reading “From small to large” the brand’s most striking marketing campaigns in 2018.

19 of the world’s largest marketing companies – Plerdy

When it comes to a marketing strategy to promote a brand, product or service, there are many questions. The promotion of new products is often accompanied by the fear of making a mistake and losing customer loyalty. So that fears are not confirmed, it is better to use the services of a proven marketing company. Of course, to work with a top company, you will need a large marketing budget. However, the largest marketing companies in the world are not just promoting products, but are studying the characteristics of the market. Marketing research allows you to develop effective strategies and achieve the desired result. To develop promotion tactics, it is necessary to analyze the requirements of consumers and the capabilities of competitors.

There are many reasons for spreading information about a brand on the Internet, but the more mentions there are in different sources, the more likely it is to gain the necessary trust from the audience.

To promote the brand, the largest marketing companies in the world can use:

  • Building communication with the target audience.
  • Branding, brand building.
  • E-mail marketing – activation and collection of leads.
  • UI/UX analysis and formation of a user-friendly interface.
  • SEO – increase in targeted organic traffic.
  • PPC – launch of Facebook, Google, Instagram, Linkedin, TikTok Ads. The choice of social networks is determined by goals and objectives.
  • Video marketing – creating stories, promotional and educational videos.
  • Data analytics – all traffic needs to be analyzed and, accordingly, improved usability or advertising campaigns.

Every option is worthwhile – don’t neglect any of the possibilities. The chance of getting a response from the target audience increases if marketing research is treated with due attention.

Top 19 marketing companies

Up-to-date information about the world’s largest marketing companies can be found on various specialized websites. It is worth trusting those web platforms that were able to confirm their impartiality in the assessment. It will not be difficult to identify the leading industry leaders – we have done some of the work for you and offer the top 19 best marketing companies on a planetary scale.

Accenture Interactive

The company is known far and wide outside the US for its dedication to improving technology to improve service. Accompanying customers at all stages of the path to purchase is carried out thanks to network offers (design, marketing, commerce).

The work is carried out under the strict guidance of General Manager Julie Sweet. Agency offices are located in major US cities.

Thanks to its modern approach to tasks, the company cooperates with:

  • Generali.
  • Renown Health.
  • Avianca.
  • Microsoft.
  • Cancer Research UK.

“Iterative testing has improved the customer experience. User experience improvements have been achieved through a culture of testing and optimization.” — Adidas feedback.

Deloitte Digital

The agency works with new technologies and proves that unknown tools are not always difficult to use. Simplicity and lightness are important points that affect the popularity of the agency. Sam Roddick leads the company and acts as a generator of its ideas. Among the brands that collaborated with the agency, it is worth highlighting:

  • Pizza Hut.
  • Alaska Airlines.
  • Activision.
  • Intel.
  • Pepsi.

“Creating a new customer connection allowed us to achieve the desired result: the pressure from the buyers was reduced, and the quality of work was increased” – from the Halo Top review.

Ogilvy

A wide range of services has allowed the agency to become the largest company in the marketing communications niche five times. Advertising and branding go hand in hand here, so achieving goals is not difficult. Yves Baudechon is the head of the company. Achieved fame thanks to cooperation with:

  • Philips.
  • Motorola.
  • KFC.
  • IBM.
  • Qualcomm.

In his review, Robert J. B noted the agency as the best network company for promotion.

Bluefocus Communication Group

The agency offers a wide range of marketing services. The company has more than 6 thousand employees who work in 100 offices around the world – thanks to this, it is possible to maintain working contact with famous client brands:

  • Samsung.
  • Audi.
  • P&G.
  • Bentley.
  • Mercedes-Benz.

“The possibilities of new technologies for promotion are used to the maximum. The work on the project is at the forefront, so working with the agency pays off.” —Lenovo feedback.

BBDO

A renowned company that combines the past and the future. The main motive for action is a phrase thrown by the first client back in 1989: “I just want to sell more cows.” Simplicity and a lot of work are the steps leading to success and the opportunity to cooperate with well-known brands:

  • General Electric.
  • Mountain Dew.
  • Nestle.
  • Guinness.
  • Alka-Seltzer.

“The decision to use the features of the current situation in advertising has paid off. The results of launching a new campaign proved to be a great option in such a difficult time. We do not regret that we agreed to work together, ”- from the AT&T review.

Hakuhodo

Integrated marketing solutions are the first thing an agency uses to promote clients. The desire to improve the consumer experience has led to an increase in the number of branches in different countries. Branches in major cities work with industry leaders:

  • Yahoo!
  • Lotte.
  • Nissan.
  • Tiffany & Co.
  • Sony.

“The safety sensor as a parental concern was shown in the commercial. Thanks to this, it was possible to increase coverage and interest car owners around the world ”- a few phrases from a review of cooperation with Toyota.

McCann

The expansion and expansion of the agency’s marketing capabilities began over 90 years ago. McCann is one of the first companies that decided to work on projects using modern digital technologies. Cooperation with global brands has shown the desired result – and today among the agency’s clients are:

  • GM.
  • Aldi.
  • Cigna.
  • Nestle.
  • Merck.

“They did everything on time and their work was flawless. Now the content and engagement of the audience is excellent” – multiple reviews about working with the agency team speak for themselves.

Publicis Worldwide

“You can use the rapid changes in the market to your advantage” – this idea allows the agency to find a source of inspiration for working on projects. To date, branches have been opened around the world, whose specialists cooperate with popular brands:

  • Diesel.
  • Tiger Beer.
  • Renault.
  • UNICEF.
  • AXA.

“Our desire to offer customers the goods they need every day and save money was understood from the first phrase. Great job!” – from a review by Walmart.

Mindshare

The agency’s culture of original thinking and creative problem solving helps clients grow their businesses. The company has 116 offices in the US, Latin America, Asia, Europe, the Middle East and the Pacific. Speed ​​and teamwork pays off as evidenced by collaborations with renowned international brands including:

  • American Express.
  • Diageo.
  • FOX.
  • Ford.
  • BP.

“Mindshare is a pleasure to work with – they create competitive marketing advantages” – from Microgrid Systems Laboratory review

Mediacom

predefined functions . For work, various sources of media are used that allow us to carry out our plans. The opportunity to see your marketing strategy in a new way was appreciated by:

  • Bose Corporation.
  • Snickers.
  • Gillette.
  • AB InBev.
  • Procter & Gamble.

“A radical change in our services, oddly enough, brought us results. Reputation improvement is the first thing we’ve done together that deserves praise” – from an Uber customer review.

Leo Burnett

The largest and one of the oldest (81 years of glorious history!) network of agencies united about 8 thousand employees under its wing. For the development of projects, the opportunity to use communications as a central lever for managing marketing strategies is used. Creative problem solving has been demonstrated in advertising campaigns for:

  • Coca-Cola.
  • Fiat.
  • Kellogg’s.
  • KraftHeinz.
  • McDonald’s.

“We got help with cutting edge technology! We emphasize the importance of innovations: they allowed to increase sales” – from the response of Samsung.

Xaxis

Advanced artificial intelligence combined with a dedicated database brings the best results. Realizing the importance of customer achievements, work to improve their position in the market continues. Today, Nicolas Bidon leads projects as a CEO, and the efforts of his team have been rated:

  • Volvo.
  • Skechers.
  • Domino’s.

“By combining several data sources, they were able to uncover a whole new set of audiences to raise awareness and draw attention to our cars” – from a review by Dave Cottrell.

MEC

114 offices and 90 countries are united by the desire to grow and develop in the chosen direction – the marketing company is increasing its potential. Bringing in new talent has made MEC the biggest agency, and under the leadership of Toby Jenner, they’ve partnered with:

  • Campbell&apos.
  • Colgate.
  • IKEA.
  • L’Oréal.
  • Marriott International.

“I was very impressed with how quickly they got everything set up and responded to our support requests” — from a review from a loyal customer of the agency.

Acxiom

Marketing is based on the desires of people, and the opportunity to get the necessary information about the expectations of the target audience comes from working with a talented team. Better customer service and increased investment in the brand are the agency’s priorities. Chad Engelgau is a director of a company that has partnered with big names in the market:

  • Facebook.
  • Display and Video 360.
  • Crossix.
  • MediaMath.
  • LiveRamp.

“We’ve gotten better at defining consumer characteristics and have created marketing personas in the US and global markets. A well-composed buyer profile allowed us to achieve the desired results” — from a client’s feedback.

Cheil Worldwide

The creation of a new owner agency was inspired by the desire to bring together specialists from different areas of marketing under one roof. The results of the implementation of the plan were not long in coming – the company gained fame outside its native region. Agency with CEO Jongkeun Yu boasts cooperation with:

  • Timberland.
  • KT.
  • Gmarket.
  • Vodafone.
  • Emart.

“Interest in the product will fade if the audience is not stimulated in a timely manner. We succeeded thanks to the services of the company” — from the client’s response.

Gray

Collaboration with a huge number of brands from the FORTUNE 500 list is the best confirmation of effective work. The agency boasts of having branches in a hundred countries, which also allows us to appreciate the efforts of leaders. Michael Houston is the CEO of a company that has been in business since:

  • Soundcloud.
  • Vida Mujer.
  • Finnair.
  • Volvo.
  • NFL.
  • Lidl.

“We always knew what was going on in the project. Efforts to establish communication were received with understanding. We were confident in the result – the employees communicated with us ”- an assessment of the work from the head of 3D Nest.

DigitasLBi

People understand brands through the correct use of media sources. Successful experience and accurate research data merged to improve client promotion – the agency under the management of Erin Quill Keough was trusted to develop marketing strategies:

  • American Express.
  • Buick.
  • Maytag.
  • AstraZeneca.
  • Taco Bell.

“In the process of cooperation, we have reduced costs. In addition, we managed to improve the quality of service and draw the attention of customers to the offers” – from a customer review.

RAPP

Is it difficult to connect brand and customer? The marketing agency manages to create effective solutions for any task, and this is confirmed by cooperation with:

  • SAP.
  • Pfizer.
  • Remington.
  • Toyota.
  • Ruffles.

“I referred a few business people I know to Rapp — that’s how respectful I am of working with them” — from a customer review.

Isobar

Digital marketing is a great way to combine innovation and implement it to promote brands. The main goal is to be able to improve the consumer experience and improve the strategies used. Jean Lin is an executive director who managed the company during his cooperation with:

  • Heineken.
  • Guinness.
  • Comedy Central.
  • Cancer Treatment Centers of America.
  • Huawei.

“Creating a panel for dealerships to organize events, personal invitations and keep track of the best has brought the Porsche brand together on one platform” – from a customer response.