The chart above shows the net sales of the US based retail brand Best Buy from fiscal 2013 to 2023 in billions. (Each fiscal year ends in March). In fiscal 2023, Best Buy generated $46.3 billion in net sales which was around $5.5 billion less compared to the prior fiscal year. The company had generated the highest net revenue in its history in fiscal 2022, when its net sales were above $50 billion.
Net revenue of Best Buy 2003-2023
Dollar amounts are in millions.
| Year | Revenue ($ Mn) |
| 2023 | $46,298 |
| 2022 | $51,761 |
| 2021 | $47,262 |
| 2020 | $43,638 |
| 2019 | $ 42,879 |
| 2018. | $ 42,151 |
| 2017. | $ 39,403 |
| 2016. | $ 39,528 |
| 2015. | $ 40,339 |
| 2014. | $ 40,611 |
| 2013. | $ 38,252 |
| 2012. | $ 43,426 |
| 2011. | $ 42,683 |
| 2010. | $ 43,799 |
| 2009. | $ 44,737 |
| 2008. | $ 39,892 |
| 2007. | $ 35,934 |
| 2006. | $ 30,848 |
| 2005. | $ 27,433 |
| 2004. | $ 24,548 |
| 2003. | $ 20,943 |
Best Buy’s net revenues increased to $47.3 billion in fiscal 2021 (ended Jan 30, 2021) from $43.64 billion in fiscal 2020.
The net revenue of Best Buy grew to $42.87 billion in 2019 from $42.15 billion in 2018.
The International segment includes Canada and Mexico where it operates under the brand names Best Buy, Best Buy Express, Best Buy Mobile, Geek Squad and the domain names bestbuy.ca and bestbuy.com.mx. However, the company decided to exit the Mexican market during the pandemic.
About Best Buy :
Best Buy is among the leading retail brands in the United States. The company was incorporated in the state of Minnesota in 1966. Its business is divided into two segments that include domestic and international. The domestic segment is the US segment of Best Buy’s business. The international segment included Canada and Mexico. However, the company exited its Mexico business in the third quarter of 2021. At the end of 2021, the company had 1,126 large store format and 33 small format stores including its domestic and international segments. The company offers merchandise and services in six main revenue categories (included above in the table).
The company’s net revenues in fiscal 2021 reached $47,262 million from $43,638 million in fiscal 2020. Its net earnings were $1,798 million in 2021 compared to $1,541 million in 2020. At the end of fiscal 2021, the company employed 102,000 people. (Fiscal year at Best Buy ends in the first month of the year like Walmart.) The company has enjoyed 144% growth in its online revenues from the United States in fiscal 2021. Its net revenues from the US market in 2021 grew by 7.9% compared to the previous year.
Abhijeet Pratap is a passionate blogger with seven years of experience in the field. Specializing in business management and digital marketing, he has developed a keen understanding of the intricacies of these domains. Through his insightful articles, Abhijeet shares his knowledge, helping readers navigate the complexities of modern business landscapes and digital strategies.