Analyst Report: Best Buy Co. Inc.

Summary

Best Buy Co. is a leading retailer of consumer electronics, with FY24 sales of $43.5 billion, down from $46.3 billion in FY23 and $51.8 billion in FY22. Approximately 8% of revenue is from international operations. The Minneapolis-based company ended FY24 with 965 stores in the U.S., which average about 40,000 square feet. The International segment ended FY24 with 160 stores. Total square footage is about 40.4 million, down from 50 million in FY11. In the Domestic segment, Consumer Electronics generated about 31% of FY24 revenue; Computing and Mobile, 42%; Entertainment, 10%; Services, 5%; and Appliances, 11%. The company’s fiscal year ends on the Saturday closest to the end of January. FY24 was a 53-week year.

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