Best Buy
Best Buy Co., Inc. (NYSE: BBY) is a Fortune 100 company and the largest specialty retailer of consumer electronics in the United States and Canada, accounting for 21% of the market.The company's subsidiaries include Geek Squad, Magnolia Audio Video, Pacific Sales, and, in Canada the Best Buy Canada subsidiary operates most stores under the Future Shop label. Together these operate more than 1,150 stores in the United States, Puerto Rico, Canada, China, Mexico and Turkey.The company's corporate headquarters are located in Richfield, Minnesota, USA (near Minneapolis). 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 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 beginning 2009, with plans for up to 200 stores eventually, 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 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.