SECURITIES AND EXCHANGE COMMISSION

                               WASHINGTON, D.C.  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) May 11, 1998



                                  BEST BUY CO., INC.
                (Exact name of registrant as specified in its charter)



                                      MINNESOTA
                    (State or other jurisdiction of incorporation)



               1-9595                                   41-0907483
      (Commission File Number)           (IRS Employer Identification Number)



           7075 Flying Cloud Drive                            55344
           Eden Prairie, Minnesota                          (Zip Code)
    (Address of principal executive offices)


          Registrant's telephone number, including area code:  612/947-2000


                                    Not applicable
            (Former name or former address, if changed since last report)



ITEM 5.   OTHER EVENTS.

In connection with the "safe harbor" provisions of the Private Securities
Litigation Reform Act of 1995, Best Buy Co., Inc. (the "Company") is hereby
filing amended and restated cautionary statements which identify important
factors that could cause the Company's actual results to differ materially from
those projected in forward-looking statements of the Company made by or on
behalf of the Company.


ITEM 7.   FINANCIAL STATEMENTS AND EXHIBITS.

(c)  Exhibits

The following is filed as an Exhibit to this Report.



     Exhibit No.    Description of Exhibit
     -----------    ----------------------
                 
     99             Cautionary statement for purposes of the "Safe Harbor"
                    provisions of the Private Securities Litigation Reform Act
                    of 1995.



                                     SIGNATURE

     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: May 11, 1998                 By:  /s/ Allen U. Lenzmeier
                                      --------------------------------
                                   Name:     Allen U. Lenzmeier
                                   Title:    Executive Vice President &
                                             Chief Financial Officer