Best Buy
hideBest Buy Co., Inc. (NYSE: BBY) is a Fortune 500 company and the largest specialty retailer of consumer electronics in the United States accounting for 21% of the market. It also operates in Canada, Mexico, and China. The company's subsidiaries include Geek Squad, Magnolia Audio Video, Pacific Sales, and, in Canada operates under both the Best Buy and Future Shop label. Together these operate more than 1,150 stores in the United States, Puerto Rico, Canada, China, Mexico[citation needed] and Turkey. The company's corporate headquarters are located in Richfield, Minnesota, USA. On June 26, 2007, Best Buy announced a 40% increase in its operations, with plans to operate more than 1,800 stores worldwide, including 1,400 Best Buy stores in the U.S.
With the recent 50% acquisition of UK-based mobile phone operation The Carphone Warehouse's retail division, Best Buy announced that it would open branded superstores in the UK and other European countries. Best Buy will first open stores in the UK, with plans for up to 200 stores eventually, although the initiative has been delayed until Spring 2010 by the state of the retail market. It is also considering purchasing UK rivals Kesa Electricals (owner of Comet), DSG International (owner of Currys), or both. It is unknown whether these stores will rebrand if acquired by Best Buy. Best Buy is yet to reveal the location of the stores in UK. In total 20 locations are planned for 2009 which will all be big box format, however the company is looking for a flagship store in Central London in a prominent area such as Piccadilly Circus, Oxford Street or Regent Street. See Best Buy UK
Best Buy was named "Company of the Year" by Forbes magazine in 2004, "Specialty Retailer of the Decade" by Discount Store News in 2001, ranked in the Top 10 of "America's Most Generous Corporations" by Forbes magazine, and made Fortune Magazine's List of Most Admired Companies in 2006.
On March 9, 2009, Best Buy became the primary electronics retail store (online and bricks and mortar) in the eastern United States, after smaller rival Circuit City went out of business. Fry's Electronics remains a major competitor in the western United States.
For more information about Best Buy, read the full article at
Wikipedia.
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News tagged with best buy
Best Buy embraces digital delivery of home video
Nov 03, 2009 |
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(AP) -- Best Buy Co. is trying to nudge consumers away from its stores' DVD aisles by making it easier for them to rent and buy movies over high-speed Internet connections.
Nintendo cutting Wii price by $50 to $200 (Update)
Electronics / Consumer & Gadgets
Sep 24, 2009 |
3 / 5 (1) |
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(AP) -- Nintendo on Sunday will cut the price of its popular Wii console by $50, in a bid to broaden its appeal among potential new customers as it prepares to release the Wii Fit-Plus and New Super Mario ...
Tweet for hire: More big businesses hire tweeters
Sep 02, 2009 |
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(AP) -- People around the world interact with Alecia Dantico all day. Usually, though, they don't know whether she's young or old, male or female.
Digital music sales 'to nearly equal CDs next year'
Aug 18, 2009 |
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Compact discs accounted for 65 percent of US music sales in the first half of 2009 but digital downloads are expected to nearly equal CD sales by the end of next year, market research firm NPD Group said Tuesday.
Microsoft taking pre-orders for next-gen Zune HD
Electronics / Consumer & Gadgets
Aug 13, 2009 |
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(AP) -- Microsoft Corp. said Thursday a new generation of its Zune music player will go on sale Sept. 15, but eager customers can pre-order the gadget online now.
Best Buy $9.99 TV offer was too good to be true
Aug 12, 2009 |
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(AP) -- Few if any of the deals retailers have offered online during the recession have been as good as Best Buy Inc.'s sale price of $9.99 on a 52-inch TV Wednesday. But it quickly turned out the offer was too good to be ...
Twitter all-star? Best Buy puts number at 250
Jul 21, 2009 |
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(AP) -- After buzz built online about a new marketing job, Best Buy Co. Inc. is reworking the help-wanted listing that sought Twitter experience and put a number on it - 250 followers.
Windows 7 is on sale. Should you buy it now?
Jul 08, 2009 |
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(AP) -- Microsoft Corp.'s next installment of Windows doesn't launch until October, but deep discounts on some versions are available through Saturday if you want to pre-order. Before pouncing on this deal, ...
Report finds TV sales staying strong in recession
May 27, 2009 |
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(AP) -- Never mind the lousy economy: Flat-panel TVs are still flying off the shelves in the U.S. and Canada.
