Executive Summary

Best Buy held its biannual investor update meeting on September 25, 2019 at the New York Stock Exchange.

• Best Buy has already accomplished its FY21 financial targets and has set aggressive but achievable targets for FY25.
• The company is focused on increasing “brand love” (i.e., the consumer’s connection or affinity for a brand) by focusing on retail fundamentals, including pricing and promotions.
• Best Buy is intensely focused on the customer and is targeting adjacent opportunities where it has lower market share.
• The health tech category is a $50 billion addressable market, which is undergoing a structural transformation that is unlocking new possibilities.
• The company has made substantial improvements to its supply chain, in automation, evolving strategies in partnership and fulfillment, expanding its supply chain and customer experience.