Best Buy Co., Inc.
Stock Symbol: BBY
7601 Penn Avenue South
Best Buy Co., Inc. Industry:
Best Buy Co., Inc. Description:
Minneapolis-based Best Buy Co., Inc. (NYSE:BBY) is North America's number one specialty retailer of consumer electronics, personal computers, entertainment software and appliances. The Company operates retail stores and commercial Web sites under the names: Best Buy (BestBuy.com), Future Shop (FutureShop.ca); Magnolia Hi-Fi (MagnoliaHiFi.com), Media Play (MediaPlay.com), On Cue, Sam Goody (SamGoody.com), and Suncoast (Suncoast.com). The Company reaches consumers through more than 1,900 retail stores in the U.S., Canada, Puerto Rico and the U.S. Virgin Islands.
Best Buy Co., Inc. Financial Summary:
For the twenty six weeks ended 27 August 2005, Best Buy Co. Inc.'s revenues rose 11% to $12.82B. Net income rose 36% to $358M. Revenues reflect the opening of new stores, comparable store sales gains driven by increased customer spending on MP3 players, flat-panel television and digital imaging products. Net income benefited from improved operating margins and increased net interest income due to the presence of dividend income.
Best Buy Co., Inc. Business Summary:
Best Buy Co., Inc. is a specialty retailer of consumer electronics, home office products, entertainment software, appliances and related services. It operates retail stores and commercial Websites under the brand names Best Buy (BestBuy.com and BestBuyCanada.ca), Future Shop (FutureShop.ca), Magnolia Audio Video (MagnoliaAV.com) and Geek Squad (GeekSquad.com), as well as an outlet store on eBay. During the fiscal year ended February 26, 2005, the Company operated two segments: Domestic and International. The Domestic segment is comprised of the United States Best Buy and Magnolia Audio Video operations. The United States Best Buy stores offer consumer electronics, home office products, entertainment software, appliances and related services. Magnolia Audio Video stores offer high-end audio and video products and services. The International segment consists of Future Shop and Best Buy operations in Canada, offering products similar to those offered by the United States Best Buy stores.