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
                                                                                  	OMB APPROVAL
OMB Number: 3235-0287
Expires: January 31, 2005 
Estimated average burden
hours per response... 0.5	
                      	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(f) of the Investment Company Act of 1940	                      	

1. Name and Address of Reporting Person *

SCHULZE RICHARD M	2. Issuer Name and Ticker or Trading Symbol

BEST BUY CO INC [ BBY ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

__ X __ Director                      __ X __ 10% Owner
__ X __ Officer (give title below)      _____ Other (specify below)
Chairman of the Board	
(Last)          (First)          (Middle)

7601 PENN AVENUE SOUTH	3. Date of Earliest Transaction (MM/DD/YYYY)

12/9/2004		
(Street)

RICHFIELD, MN 55423
(City)        (State)        (Zip)	4. If Amendment, Date Original Filed (MM/DD/YYYY)

 	6. Individual or Joint/Group Filing (Check Applicable Line)

_ X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person	

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned	
1.Title of Security
(Instr. 3)	2. Trans. Date	2A. Deemed Execution Date, if any	3. Trans. 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  	 	 	 	  	 	 	 	481929  	D  	 	
Common Stock  	12/9/2004  	 	S (1)	  	224000  	D	$57.51  	47444996  	I  	Trustee for revocable trust  	
Common Stock  	 	 	 	  	 	 	 	1150  	I   (2)	Spouse  	
Common Stock  	 	 	 	  	 	 	 	930115  	I  	GRAT  	
Common Stock  	 	 	 	  	 	 	 	126582  	I  	Spouse irrevocable trust  	
Common Stock  	 	 	 	  	 	 	 	6102  	I   (2)	Trustee for children's trusts  	
Common Stock  	 	 	 	  	 	 	 	48092  	I  	401(k) plan  	
Common Stock  	 	 	 	  	 	 	 	633446  	I  	Sole general partner of limited partnership  	
Common Stock  	 	 	 	  	 	 	 	21115  	I  	Sole member of LLC which is sole general partner of limited partnership  	
Common Stock  	 	 	 	  	 	 	 	1374  	I  	IRA  	
Common Stock  	 	 	 	  	 	 	 	762029  	I  	Spouse GRAT  	

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)	
1. Title of Derivate Security
(Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Trans. Date	3A. Deemed Execution Date, if any	4. Trans. 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	7. Title and Amount of Securities Underlying Derivative Security
(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)  	$34.79  	 	 	  	  	  	  	4/16/1999   (3)	4/15/2009  	Common Stock  	150000  	 	150000  	D  	 	
Stock Option (Right to Buy)  	$34.79  	 	 	  	  	  	  	4/16/1999  	4/15/2009  	Common Stock  	7500  	 	7500  	D  	 	
Stock Option (Right to Buy)  	$46.75  	 	 	  	  	  	  	4/14/2000   (3)	4/13/2010  	Common Stock  	600000  	 	600000  	D  	 	
Stock Option (Right to Buy)  	$46.75  	 	 	  	  	  	  	4/14/2000  	4/13/2010  	Common Stock  	7500  	 	7500  	D  	 	
Stock Option (Right to Buy)  	$37.06  	 	 	  	  	  	  	4/27/2001   (3)	4/26/2011  	Common Stock  	375000  	 	375000  	D  	 	
Stock Option (Right to Buy)  	$37.06  	 	 	  	  	  	  	4/27/2001  	4/26/2011  	Common Stock  	7500  	 	7500  	D  	 	
Stock Option (Right to Buy)  	$51.27  	 	 	  	  	  	  	4/11/2002   (3)	4/10/2012  	Common Stock  	127500  	 	127500  	D  	 	
Stock Option (Right to Buy)  	$51.27  	 	 	  	  	  	  	4/11/2002  	4/10/2012  	Common Stock  	7500  	 	7500  	D  	 	
Stock Option (Right to Buy)  	$30.98  	 	 	  	  	  	  	4/14/2003  	4/13/2013  	Common Stock  	7500  	 	7500  	D  	 	
Stock Option (Right to Buy)  	$53.00  	 	 	  	  	  	  	4/19/2004  	4/18/2014  	Common Stock  	7500  	 	7500  	D  	 	

Explanation of Responses:	
(  1) 	The sale reported on this Form 4 was effected pursuant to a Rule 10b5-1 trading plan established by the reporting person on July 7, 2004.	
(  2) 	The reporting person disclaims beneficial ownership of these securities, and this report shall not be deemed an admission that the reporting person is the beneficial owner of the securities for purposes of Section 16 or for any other purposes.	
(  3) 	The date indicated is the grant date and the options vest in four equal annual installments beginning one year from such date.	

Reporting Owners	
Reporting Owner Name / Address	Relationships	
	Director	10% Owner	Officer	Other	
SCHULZE RICHARD M
7601 PENN AVENUE SOUTH
RICHFIELD, MN 55423	X	X	Chairman of the Board		

Signatures		
/s/ Joseph M. Joyce Attorney-in-fact for Richard M. Schulze		12/13/2004	
** Signature of Reporting Person		Date

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.	
*	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).	
Note:	File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.	
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.