8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, DC  20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) November 21, 2003

BEST BUY CO., INC.

(Exact name of registrant as specified in its charter)

Minnesota	1-9595	41-0907483
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)
7601 Penn Avenue South Richfield, Minnesota		55423
(Address of principal executive offices)		(Zip Code)
Registrant’s telephone number, including area code (612) 291-1000
N/A
(Former name or former address, if changed since last report)

Item 7. Financial Statements and Exhibits.

(c) Exhibits.

The following is furnished as an Exhibit to this Report.

Exhibit No.	Description of Exhibit
99	Press release issued November 21, 2003. Any internet addresses provided in this release are for information purposes only and are not intended to be hyperlinks. Accordingly, no information in any of these internet addresses is included herein.

Item 9. Regulation FD Disclosure.

Pursuant to Item 9, “Regulation FD Disclosure,” information is being furnished with respect to Best Buy Co., Inc.’s press release, issued on November 21, 2003, announcing that the registrant had received notice of and was served with a shareholder lawsuit filed on November 20, 2003 in the U.S. District Court in Minneapolis alleging violations of Sections 10(b) and 20(a) and Rule 10b-5 of the Securities Exchange Act of 1934.

The press release issued on November 21, 2003, is furnished as Exhibit No. 99 to this Report. Best Buy Co., Inc.’s Annual Report to Shareholders and its reports on Forms 10-K, 10-Q and 8-K and other publicly available information should be consulted for other important information about the registrant.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	BEST BUY CO., INC.
	(Registrant)
Date: November 24, 2003	By:	/s/ Darren R. Jackson
	Darren R. Jackson
	Executive Vice President – Finance and Chief Financial Officer

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EX-99

Exhibit No. 99

			For Immediate Release
	Media Contact:	Investor Contacts:
	Susan Busch, Director of Corporate PR	Jennifer Driscoll, Vice President of Investor Relations
	(612) 291-6114 or Susan.Busch@bestbuy.com	(612) 291-6110 or jennifer.driscoll@bestbuy.com
		Shannon Burns, Senior Investor Relations Manager
		(612) 291-6126 or shannon.burns@bestbuy.com

Best Buy Announces Class Action Lawsuit

MINNEAPOLIS, Nov. 21, 2003 –Best Buy Co., Inc. (NYSE: BBY) today said that it had received notice of and was served with a shareholder lawsuit filed yesterday in the U.S. District Court in Minneapolis. The lawsuit is a purported class action on behalf of persons who purchased the securities of Best Buy Company, Inc. between January 9, 2002, and August 7, 2002, inclusive, and alleges violations of Sections 10(b) and 20(a) and Rule 10b-5 of the Securities Exchange Act of 1934. The named defendants are Best Buy Company, Inc., Richard M. Schulze, the company’s chairman, and Bradbury H. Anderson, vice chairman and chief executive officer. The company has completed an initial review of the allegations in the lawsuit and believes they are without merit. The company intends to vigorously defend against this action.

Statements made in this news release, other than those concerning historical financial information, should be considered forward-looking and subject to various risks and uncertainties. Such forward-looking statements are based on management’s beliefs and assumptions regarding information currently available, and are made pursuant to the “safe harbor” provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The Company’s actual results could differ materially from those expressed in the forward-looking statements. Factors that could cause results to vary include, among others, those expressed in the Company’s filings with the Securities and Exchange Commission. The Company has no obligation to publicly update or revise any of the forward-looking statements that may be in this news release.

About Best Buy Co., Inc.

Minneapolis-based Best Buy Co., Inc. is North America’s leading specialty retailer of consumer electronics, personal computers, entertainment software and appliances. The Company’s subsidiaries operate retail stores and/or Web sites under the names: Best Buy (BestBuy.com), Future Shop (FutureShop.ca), Geek Squad (GeekSquad.com), and Magnolia Audio Video (MagnoliaAV.com). The Company’s subsidiaries reach consumers through more than 700 retail stores in the United States and Canada.

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