Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
HOFF SUSAN S
   2. Issuer Name and Ticker or Trading Symbol
BEST BUY CO INC [BBY] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
SVP - CCO
(Last)
(First)
(Middle)
7601 PENN AVENUE SOUTH		 3. Date of Earliest Transaction (Month/Day/Year)
01/11/2005
(Street)

RICHFIELD, MN 55423		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock               14,651 D  
Common Stock               4,640 D (1)  
Common Stock               468,207 I By Trusts (2)
Common Stock               1,565 I 401(k) plan
Common Stock 01/11/2005   M   5,625 A $ 51.27 6,063 I Spouse (3)
Common Stock 01/11/2005   S   5,625 D $ 55.66 438 I Spouse
Common Stock               3,109 I Spouse 401(k) plan

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Option (Right to Buy) $ 46.75             04/14/2000 04/13/2010 Common Stock 33,750   33,750 D  
Stock Option (Right to Buy) $ 37.06             04/27/2001(4) 04/26/2011 Common Stock 8,156   8,157 D  
Stock Option (Right to Buy) $ 46             07/27/2001(4) 07/26/2011 Common Stock 4,218   1,407 D  
Stock Option (Right to Buy) $ 51.27             04/11/2002(4) 04/10/2012 Common Stock 32,625   32,625 D  
Stock Option (Right to Buy) $ 28.67             01/16/2003(4) 01/15/2013 Common Stock 15,000   11,250 D  
Stock Option (Right to Buy) $ 59.38             11/03/2003(4) 11/02/2013 Common Stock 17,000   17,000 D  
Stock Option (Right to Buy) $ 55.09             10/11/2004(4) 10/10/2014 Common Stock 17,000   17,000 D  
Stock Option (Right to Buy) $ 37.06             04/27/2001(4) 04/26/2011 Common Stock 2,812   2,813 I Spouse
Stock Option (Right to Buy) $ 46             07/27/2001(4) 07/26/2011 Common Stock 4,218   1,407 I Spouse
Stock Option (Right to Buy) $ 51.27 01/11/2005   M     5,625 04/11/2002(4) 04/10/2012 Common Stock 5,625 $ 0 5,625 I Spouse
Stock Option (Right to Buy) $ 28.67             01/16/2003(4) 01/15/2013 Common Stock 3,750   3,750 I Spouse
Stock Option (Right to Buy) $ 59.38             11/03/2003(4) 11/02/2013 Common Stock 5,985   5,985 I Spouse

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
HOFF SUSAN S
7601 PENN AVENUE SOUTH
RICHFIELD, MN 55423		       SVP - CCO  

Signatures

 /s/ Mark Geldernick Attorney-in-fact for Susan S. Hoff   01/12/2005
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Restricted shares that will vest in a range from 0%-100% three years from the date of grant, depending on satisfaction of certain performance factors.
(2) Includes a trust of which the reporting person is a trustee and a beneficiary, two trusts held for the benefit of the reporting person's children of which the reporting person is a co-trustee, and a remainder trust of which the reporting person is the sole beneficiary.
(3) The reporting person's spouse was formerly an officer of Best Buy Co., Inc. and in such capacity had received stock option and restricted share awards pursuant to Company sponsored plans.
(4) The date indicated is the grant date and the options vest in four equal annual installments beginning one year from such date.

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