In a broader industry trend influenced by President Donald Trump’s tariff policy, Best Buy—mentioned alongside Macy’s and Abercrombie & Fitch—has cut its profit outlook as part of an industry-wide response to rising import costs. The article notes that these tariffs, which have forced retailers to adjust their financial expectations, illustrate how authoritarian tariff policies are affecting business operations.

FEC data released on February 06, 2025 reveals Best Buy spent $1,360,000 on lobbying and made $450,728 in political contributions during the 2024 cycle, indicating notable corporate political engagement.

Best Buy released an updated Human Rights Corporate Statement in July 2024 outlining its commitment to protecting employee rights, ensuring supply chain ethics, and promoting diversity and inclusion along with adherence to international human rights standards.

An SEC filing revealed that Best Buy would implement a screening process for donations from its employee resource groups to LGBTQ causes after receiving pressure from a conservative think tank, raising concerns about the company compromising its long-standing inclusion practices.

Best Buy has published its updated Supplier Code of Conduct, outlining strict labor, health, safety, and environmental standards for its suppliers in line with international human rights and ethical practices. The document emphasizes the prohibition of forced labor, guarantees fair treatment and safety for workers, and mandates compliance with rigorous sustainability and anti-corruption measures.

Best Buy released its 2023 Political Activity & Public Policy Report, detailing its political contributions, internal oversight practices, trade organization dues, and public policy priorities. The report highlights clear disclosure mechanisms, including equal contributions of $50,000 to both the Democratic and Republican Governors Associations, and rigorous review by a Contributions Steering Committee, reflecting the company’s commitment to transparency in its political behavior.

Best Buy published a corporate statement reaffirming its commitment to human rights, aligning its policies with international labor standards and the Universal Declaration of Human Rights. The statement emphasizes avoiding adverse human rights impacts, undertaking remediation measures if necessary, and continuously improving human rights management.

Best Buy's corporate news update emphasizes its commitment to respecting human rights and moving toward a conflict-free supply chain. The company highlights its conflict minerals program, which aligns with internationally recognized OECD guidelines, aiming to prevent adverse human rights impacts and promote continuous improvement in ethical supply chain management.

Best Buy announced that it will no longer provide campaign contributions to the 147 members of Congress who voted against the certification of the presidential election results, signaling a commitment to democratic values following the violent insurrection at the U.S. Capitol.