Best Buy Co Inc. Files 2024 Annual Report on Form 10-K

TL;DR

<b>Best Buy Co Inc. has submitted its 2024 Form 10-K detailing its fiscal year performance and financial standing.</b>

AI Summary

BEST BUY CO INC (BBY) filed a Annual Report (10-K) with the SEC on March 15, 2024. Best Buy Co Inc. filed its annual report on Form 10-K for the fiscal year ended February 3, 2024. The filing covers the period from February 4, 2023, to February 3, 2024. The company's principal executive offices are located at 7601 Penn Ave South, Richfield, MN 55423. Best Buy Co Inc. is classified under the SIC code 5731 for Retail - Radio TV & Consumer Electronics Stores. The filing includes references to various accounting standards and specific financial elements like Interest Expense and Long-Term Debt.

Why It Matters

For investors and stakeholders tracking BEST BUY CO INC, this filing contains several important signals. This 10-K filing provides a comprehensive overview of Best Buy's financial health, operational strategies, and risk factors for the fiscal year 2023-2024, crucial for investors assessing the company's trajectory. The detailed financial data and disclosures within the report are essential for understanding Best Buy's market position, competitive landscape, and potential future performance in the consumer electronics retail sector.

Risk Assessment

Risk Level: medium — BEST BUY CO INC shows moderate risk based on this filing. The company operates in the highly competitive consumer electronics retail sector, facing risks from economic downturns, changing consumer preferences, and intense competition from online and brick-and-mortar retailers, as indicated by the nature of its business and industry.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-K to assess Best Buy's ability to navigate market challenges and maintain profitability.

Key Numbers

• 2024-02-03 — Fiscal Year End (Conformed Period of Report)
• 2024-03-15 — Filing Date (Filed as of Date)
• 107 — Public Document Count (Document Count)
• 001-09595 — SEC File Number (SEC File Number)

Key Players & Entities

• BEST BUY CO INC (company) — Filer name
• 0000764478 (company) — Central Index Key
• 5731 (company) — Standard Industrial Classification
• MN (company) — State of Incorporation
• 7601 PENN AVE SOUTH (company) — Business Address Street 1
• RICHFIELD (company) — Business Address City
• 55423 (company) — Business Address Zip
• 6122911000 (company) — Business Phone

FAQ

Risk Factors

• Market Risks [high — market]: The company faces risks related to economic conditions, consumer spending, and competition in the consumer electronics market.
• Operational Risks [medium — operational]: Risks associated with supply chain disruptions, inventory management, and the ability to adapt to technological changes.
• Financial Risks [medium — financial]: Potential impacts from interest rate fluctuations, credit market conditions, and foreign currency exchange rates.
• Regulatory Risks [low — regulatory]: Compliance with various laws and regulations, including those related to data privacy and environmental standards.

Key Dates

• 2024-02-03: Fiscal Year End — End of the reporting period for the 10-K.
• 2024-03-15: Filing Date — Date the 10-K was officially filed with the SEC.

From the Filing

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