: As of 2026, the company is betting on a new replacement cycle driven by AI-enabled PCs and expanding its recurring revenue through the My Best Buy Total membership program.
: In 1981, a tornado destroyed their flagship store.
: Founded in 1966 by Richard Schulze as a small audio specialty shop in St. Paul, Minnesota. best buy historical prices
The history of Best Buy is a tale of accidental innovation and strategic survival.
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: The acquisition of Geek Squad transformed Best Buy from a hardware seller into a service provider. The Modern Turnaround (2012–Present)
: In 1983, the company renamed itself Best Buy and launched its first electronics "superstore". Paul, Minnesota
: Facing "showrooming" competition from Amazon in 2012, CEO Hubert Joly launched a turnaround that focused on price-matching and in-store "shops-within-a-shop" for brands like Apple and Samsung.