# Best Buy

> American multinational consumer electronics retailer

**Wikidata**: [Q533415](https://www.wikidata.org/wiki/Q533415)  
**Wikipedia**: [English](https://en.wikipedia.org/wiki/Best_Buy)  
**Source**: https://4ort.xyz/entity/best-buy

## Summary
Best Buy is an American multinational consumer electronics retailer headquartered in Richfield, Minnesota. Founded on August 22, 1966, by Richard M. Schulze, it operates as a public company and is a major player in the retail industry, specializing in consumer electronics for everyday use.

## Key Facts
- **Founding Date**: August 22, 1966
- **Founder**: Richard M. Schulze
- **Headquarters**: Richfield, Minnesota, United States
- **Type of Company**: Public company
- **Industry**: Consumer electronics retail
- **Stock Exchange**: New York Stock Exchange (NYSE)
- **Revenue**: $40.023 billion (2020), $45.015 billion (2021), $49.694 billion (2022), $50.272 billion (2023)
- **Net Profit**: $1.407 billion (2020), $1.003 billion (2021), $1.317 billion (2022), $1.277 billion (2023)
- **Subsidiaries**: Geek Squad, Future Shop
- **CEO**: Hubert Joly (former CEO)
- **Sitelink Count**: 31
- **Wikidata Description**: American multinational consumer electronics retailer
- **Website**: [bestbuy.com](https://www.bestbuy.com/), [bestbuy.ca](https://www.bestbuy.ca), [pacificsales.com](https://www.pacificsales.com)
- **Identifiers**:
  - GND ID: 4079188-9
  - YSO ID: 11924
  - Dewey Decimal Classification: 332.642, 346.0926
  - Freebase ID: /m/01zrdx
  - Quora Topic: "Stock-Exchanges"
  - Yahoo! Japan Lux ID: concept/5417fe1
  - Iconclass notation: 46B52
  - Library of Congress Authority ID: sh85018260
  - Art & Architecture Thesaurus ID: 300025971
  - National Library of Latvia ID: 000049842
  - National Library of Israel ID: 987007317025205171
  - U.S. National Archives ID: 10637168
  - Microsoft Academic ID: 144133560 (discontinued)
  - JSTOR: archived topic
  - ERIC Thesaurus ID: Business
  - BabelNet ID: 00014137n
  - Google Knowledge Graph ID: /g/121jnq1m
  - CAB ID: 76597
  - FAST ID: 842519
  - YSO ID: 3128

## FAQs
**What is Best Buy?**
Best Buy is an American multinational consumer electronics retailer that specializes in selling electronic equipment intended for everyday use, typically in private homes. It was founded on August 22, 1966, by Richard M. Schulze and is headquartered in Richfield, Minnesota.

**Who founded Best Buy?**
Best Buy was founded by Richard M. Schulze, an American entrepreneur. Schulze started the company in 1966, and it has since grown into a major player in the consumer electronics retail industry.

**What are the key financial metrics of Best Buy?**
Best Buy has reported significant financial metrics over the years. For example, its revenue was $40.023 billion in 2020, $45.015 billion in 2021, and $49.694 billion in 2022. The net profit for these years was $1.407 billion, $1.003 billion, and $1.317 billion, respectively.

**What subsidiaries does Best Buy own?**
Best Buy owns several subsidiaries, including Geek Squad, a technology support and repair service, and Future Shop, a Canadian electronics retailer. These subsidiaries help Best Buy expand its service offerings and market reach.

**Where is Best Buy headquartered?**
Best Buy is headquartered in Richfield, Minnesota, United States. Richfield is a city in Hennepin County, Minnesota, and has been the company's base of operations since its founding.

**What is the stock exchange listing for Best Buy?**
Best Buy is listed on the New York Stock Exchange (NYSE), one of the world's largest and most influential financial markets. This listing allows Best Buy to raise capital from a wide pool of investors.

**What are the main products sold by Best Buy?**
Best Buy specializes in consumer electronics, which includes a wide range of electronic equipment intended for everyday use. This includes items such as televisions, computers, smartphones, and home appliances.

**What is the significance of Best Buy in the retail industry?**
Best Buy is a significant player in the retail industry, particularly in the consumer electronics sector. Its extensive network of stores and online presence makes it a major retailer in the United States and internationally.

**Who are some notable people associated with Best Buy?**
Notable people associated with Best Buy include Richard M. Schulze, the founder, and Hubert Joly, a former CEO who played a significant role in the company's growth and development.

**What are the key identifiers for Best Buy?**
Best Buy has several key identifiers, including its GND ID (4079188-9), YSO ID (11924), Dewey Decimal Classification (332.642, 346.0926), and various other identifiers in global knowledge graphs and library systems.

## Why It Matters
Best Buy matters as a major player in the consumer electronics retail industry. It provides a wide range of electronic products that are essential for modern living, from entertainment systems to home appliances. The company's extensive network of stores and online presence makes it a convenient and reliable source for consumers looking to purchase electronics. Additionally, Best Buy's subsidiaries, such as Geek Squad, offer valuable support and repair services, enhancing the overall customer experience. The company's financial performance and market presence also make it a significant contributor to the retail industry and the broader economy.

## Notable For
- **Founding and Growth**: Best Buy was founded by Richard M. Schulze in 1966 and has grown into a major multinational consumer electronics retailer.
- **Financial Performance**: The company has reported significant revenue and net profit figures over the years, demonstrating its financial strength and market presence.
- **Subsidiaries**: Best Buy owns several subsidiaries, including Geek Squad and Future Shop, which expand its service offerings and market reach.
- **Headquarters**: The company is headquartered in Richfield, Minnesota, a city in Hennepin County, Minnesota.
- **Stock Exchange Listing**: Best Buy is listed on the New York Stock Exchange (NYSE), one of the world's largest and most influential financial markets.
- **Product Range**: Best Buy specializes in consumer electronics, offering a wide range of electronic equipment intended for everyday use.
- **Notable People**: The company has been associated with notable individuals such as Richard M. Schulze and Hubert Joly, who have played significant roles in its growth and development.
- **Identifiers**: Best Buy has several key identifiers in global knowledge graphs and library systems, including its GND ID, YSO ID, and Dewey Decimal Classification.

## Body

### History and Founding
Best Buy was founded on August 22, 1966, by Richard M. Schulze. The company started as a small electronics store and has since grown into a major multinational consumer electronics retailer. Schulze's vision and leadership were instrumental in the company's early success and subsequent expansion.

### Financial Performance
Best Buy has reported significant financial metrics over the years. For example, its revenue was $40.023 billion in 2020, $45.015 billion in 2021, and $49.694 billion in 2022. The net profit for these years was $1.407 billion, $1.003 billion, and $1.317 billion, respectively. These figures demonstrate the company's financial strength and market presence.

### Subsidiaries
Best Buy owns several subsidiaries, including Geek Squad and Future Shop. Geek Squad is a technology support and repair service that enhances the overall customer experience by providing valuable support for electronic products. Future Shop is a Canadian electronics retailer that expands Best Buy's market reach and service offerings.

### Headquarters and Operations
Best Buy is headquartered in Richfield, Minnesota, United States. Richfield is a city in Hennepin County, Minnesota, and has been the company's base of operations since its founding. The company's extensive network of stores and online presence makes it a convenient and reliable source for consumers looking to purchase electronics.

### Stock Exchange Listing
Best Buy is listed on the New York Stock Exchange (NYSE), one of the world's largest and most influential financial markets. This listing allows Best Buy to raise capital from a wide pool of investors and enhances its visibility and credibility in the financial markets.

### Product Range
Best Buy specializes in consumer electronics, offering a wide range of electronic equipment intended for everyday use. This includes items such as televisions, computers, smartphones, and home appliances. The company's product range is designed to meet the diverse needs of modern consumers.

### Notable People
Notable people associated with Best Buy include Richard M. Schulze, the founder, and Hubert Joly, a former CEO who played a significant role in the company's growth and development. Schulze's vision and leadership were instrumental in the company's early success, while Joly's strategic initiatives helped the company navigate challenges and achieve growth.

### Identifiers
Best Buy has several key identifiers in global knowledge graphs and library systems. These include its GND ID (4079188-9), YSO ID (11924), Dewey Decimal Classification (332.642, 346.0926), and various other identifiers. These identifiers help in the precise documentation and retrieval of information about the company in various databases and encyclopedias.

### Global Presence and Recognition
Best Buy is recognized globally and is a topic of discussion in numerous languages, as indicated by its presence in Wikipedia editions in languages including Arabic, Bengali, Chinese, English, French, Hindi, Japanese, Russian, and dozens more. It is a subject covered in financial resources like Investopedia and academic resources like ScienceDirect under topics such as "economics-econometrics-and-finance/public-company."

### Classification and Type
Best Buy is a specific type of joint-stock company and is considered a distinct legal form of organization. It is a subclass of an "enterprise." It is important to distinguish it from a "public enterprise" or "cooperative," which have different ownership structures, often involving government or member-ownership.

### Ownership and Governance
The ownership of Best Buy is held by its shareholders. Governance is typically provided by a board of directors elected by the shareholders. This separation of ownership (shareholders) and control (management/board) is a classic feature of the corporate structure.

### Digital Presence
Best Buy has a significant digital presence, with a well-documented footprint in digital knowledge bases and social platforms. The company's website, [bestbuy.com](https://www.bestbuy.com/), is a major online retail platform, and it also has a presence on social media and other digital platforms.

### Related Entities
Best Buy is interconnected with various financial and institutional entities. It operates in the consumer electronics retail industry, which is essential for capital formation and investment. The company is also linked to broader economic classifications, such as the Dewey Decimal System, which categorizes it under codes 332.642 and 346.0926.

### Cultural and Linguistic Representation
Best Buy is represented in diverse cultural and linguistic contexts. Its aliases and identifiers reflect its global adoption, with terms like "Best Buy Co., Inc.," "Best Buy Co.," and "Sound of Music" in various languages. This multilingual documentation ensures its understanding and application across different regions and languages.

### Impact and Relevance
Best Buy plays a pivotal role in the consumer electronics retail industry by providing a wide range of electronic products that are essential for modern living. Its extensive network of stores and online presence makes it a convenient and reliable source for consumers looking to purchase electronics. The company's financial performance and market presence also make it a significant contributor to the retail industry and the broader economy.

## References

1. Polygon.io
2. Freebase Data Dumps. 2013
3. Global LEI Index
4. [Source](http://km.aifb.kit.edu/services/crunchbase/)
5. [Form 10-K. 2010](https://www.sec.gov/Archives/edgar/data/0000764478/000104746910004349/a2197223z10-k.htm)
6. [Form 10-K. 2011](https://www.sec.gov/Archives/edgar/data/0000764478/000104746911004045/a2203505z10-k.htm)
7. [Form 10-K. 2012](https://www.sec.gov/Archives/edgar/data/0000764478/000076447812000035/bby-201210k.htm)
8. [Form 10-K. 2015](https://www.sec.gov/Archives/edgar/data/0000764478/000076447815000014/bby-2015x10k.htm)
9. [Form 10-K. 2016](https://www.sec.gov/Archives/edgar/data/0000764478/000076447816000064/bby-2016x10k.htm)
10. [Form 10-K. 2019](https://www.sec.gov/Archives/edgar/data/0000764478/000076447819000009/bby-2019x10k.htm)
11. [Form 10-K. 2020](https://www.sec.gov/Archives/edgar/data/0000764478/000076447820000017/bby-20200201x10k.htm)
12. [Form 10-K. 2021](https://www.sec.gov/Archives/edgar/data/0000764478/000076447821000024/bby-20210130x10k.htm)
13. [Form 10-K. 2022](https://www.sec.gov/Archives/edgar/data/0000764478/000076447822000008/bby-20220129x10k.htm)
14. [Form 10-K. 2023](https://www.sec.gov/Archives/edgar/data/0000764478/000076447823000006/bby-20230128x10k.htm)
15. [Form 10-K. 2017](https://www.sec.gov/Archives/edgar/data/0000764478/000076447817000008/bby-2017x10k.htm)
16. [Form 10-K. 2018](https://www.sec.gov/Archives/edgar/data/0000764478/000076447818000013/bby-2018x10k.htm)
17. [Source](https://web.archive.org/web/20221015222048/https://investors.bestbuy.com/investor-relations/governance/board-of-directors/default.aspx)
18. ROR release v1.51
19. National Library of Israel Names and Subjects Authority File
20. Name Suggestion Index
21. KBpedia
22. [Best Buy Company Culture | Comparably](https://www.comparably.com/companies/best-buy)
23. [Best Buy Careers and Employment | Indeed.com](https://sg.indeed.com/cmp/Best-Buy)
24. Wikirate