Best Buy Co., Inc.
7601 Penn Avenue S.
Richfield, MN 55423
Best Buy is a leading multi-channel global retailer and developer of technology products and services. The Best Buy family of brands and partnerships collectively generates more than $50 billion in annual revenue and includes brands such as Best Buy, Best Buy Mobile, Audiovisions, The Carphone Warehouse, Five Star, Future Shop, Geek Squad, Magnolia Audio Video, Napster, Pacific Sales and The Phone House. Every day our employees - 180,000 strong - are committed to helping deliver the technology solutions that enable easy access to people, knowledge, ideas and fun. We are keenly aware of our role and impact on the world, and we are committed to developing and implementing business strategies that bring sustainable technology solutions to our consumers and communities.
"People. Technology. And the pursuit of happiness."
People: From "unleashing the power" of our own employees to maintaining a clear focus on our relationships with customers, vendors and shareholders alike, everything Best Buy does across the world begins and ends with people. Technology: the products we sell, the services we provide and the content we share all are tied, in some way, to the technologies that connect us and shape our changing world. The pursuit of happiness: Best Buy has a unique ability to make people happy. A great place to work makes employees happy. Happy employees make customers happy. Happy employees and customers make our shareholders, vendors and community partners happy. We're not perfect and we don't always get it right ... and that's why it's important to acknowledge that we're in constant "pursuit" of happiness.
We have four values that guide our actions:
Best Buy began in 1966, when founder Richard Schulze opened the first Sound of Music store, an audio components systems retailer, in St. Paul, Minnesota. In the early 1980s, the Company quickly expanded into video products and appliances, adopting the name Best Buy in 1983. Best Buy became a publicly-traded company in 1985. In 1989, Best Buy pioneered a new superstore concept that placed all inventory on the sales floor and featured non-commissioned product specialists. Best Buy acquired Future Shop, Canada's largest, consumer electronics retailer in 2001 and launched the Best Buy brand in Canada in 2002. The Company opened its first global sourcing office in Shanghai, China, in 2003. Today, the company has operations in the United States, Canada, Mexico, China, and nine European countries.
Throughout the Company's history, Best Buy has maintained a tradition of improving people's lives by making technology and entertainment products fun and easy to use.
Information about Best Buy’s senior management can be found in the Corporate Governance section of Best Buy's Investor Relations Web site.
Information about the Board of Directors, including brief biographies, and the responsibilities and membership of Board committees can be found in the Corporate Governance section of Best Buy's Investor Relations Web site.
At the end of fiscal 2011, we employed approximately 180,000 full-time, part-time and seasonal employees. We consider our employee relations to be good. There are currently no collective bargaining agreements covering any of our employees, and we have not experienced a strike or work stoppage.
If you are interested in joining the Best Buy team, please contact the Career Center at BestBuy.com. We are opening many stores every year and are regularly looking for employees who enjoy helping people use technology and entertainment products to make their lives more fun and productive. We have opportunities at the store, district and corporate levels. Click here to view a list of current job openings at Best Buy.
No. All Best Buy stores are company-owned, not franchised. If you are interested in joining the Best Buy team, however, please contact the Career Center at BestBuy.com. We open new stores every year and regularly look for strong leaders who enjoy helping people use technology and entertainment products to make their lives more fun and productive. We have opportunities at the store, district and corporate levels. Click here to view a list of current job openings at Best Buy.
For information about corporate sponsorships, please call Event Marketing at 612-292-4525. For questions about donations, please visit the Community Relations section of BestBuy.com which also includes information about programs that reflect our commitment to the communities in which we live and work.
The company's auditor is Deloitte & Touche.
The registered name is Best Buy Co., Inc.
The Company is incorporated in Minnesota.
Under the North American Industry Classification System (NAICS), Best Buy is in the industry group of Radio, Television, Consumer Electronics, and Music Stores and has the NAICS number 443112.
Best Buy provides consumers with a large selection of products aimed at a wide variety of audiences. We want to give our customers the opportunity to choose what is appropriate for themselves and their families, and make our sales staff available to answer questions to help customers make informed decisions. With that premise, Best Buy recognizes the concerns regarding the content of certain video and PC games. It's why the company currently has a "mature" product sales policy in place that prohibits the sale of video and computer games rated M (as defined by the Entertainment Software Rating Board) to customers under the age of 17 years old. The policy requires employees to check the age of any customer purchasing M-rated video or computer games who appears to be under the age of 21. All store employees are required to read the policy and sign an acknowledgement of the policy on their first day of employment. Failure to follow the policy results in discipline, which may include termination.
To promote employee compliance with this policy, Best Buy voluntarily developed and implemented a system in all stores providing for special prompts at cash registers when M-rated video or computer games are being purchased. The prompts require the cashier to confirm the age of the customer before selling an M-rated video or computer game.
Best Buy also believes that rating-system awareness provides a significant safeguard against sales of M-rated videos and computer games to minors. Signage explaining the Entertainment Software Ratings Board (ESRB) ratings system, which assists customers in making an informed decision before making a purchase, can be found in all Best Buy stores. The company also notes the ESRB ratings in its print advertisements. In addition, the company does not place M-rated video or computer games on its in-store interactive displays, nor does it advertise such games on television. Best Buy does not carry adult-only games.
To ensure compliance with its video and computer game sales policy, Best Buy has implemented an aggressive store audit program. "Mystery shoppers" are sent to more than 100 stores each month to determine how well cashiers are complying with the company's policy. These random audits allow the company to take appropriate action to correct problems immediately, if any are found.
Best Buy reviews its policies and initiatives with employees to emphasize their importance. The company's training videos include the carding policy for M-rated video and computer games. Each store posts the video and computer game carding policy in their employee break room. They review and report compliance quarterly to ensure that all employees adhere to the policy.
Also in fiscal 2010, we made an exception to our policy against advertising M-rated video games. Generally, our policy is to not advertise M-rated video games, either on TV or in our stores, but several factors caused us to choose to make an exception. First, the game in question was one of the top selling video games of all time and we wanted to be sure consumers were aware that Best Buy offered the game. We also viewed some mature video games with mature themes much differently than m-rated games that contained graphic and gratuitous violence. Finally, we approached the advertising with heightened sensitivity. We did not show scenes of violence in the ads and did not position the game for the teen market.
What is the ticker symbol for Best Buy Co.,
What is the CUSIP number for Best Buy?
What are the dates of Best Buy's 2012 fiscal year and quarters?
When and where is your next annual meeting?
Whom do I contact with questions about my stock certificates -- replacing lost certificates, changing of my address, changing the name on my certificates or transferring ownership?
Where can I find the latest earnings and corporate news?
When did Best Buy become a public company?
What is the history of stock splits and dividends for Best Buy shares?
How many shares of Best Buy Co., Inc. stock are currently issued and outstanding?
What investment analysts follow Best Buy?
Does Best Buy offer a Dividend Reinvestment Plan (DRIP) or Direct Stock Purchase Program?
What is the nominal par value of Best Buy Co., Inc.'s common shares?
Best Buy stock trades on the New York Stock Exchange under the ticker symbol BBY.
The CUSIP number is 086516101.
The 2012 fiscal year began on Sunday, February 27, 2011, and ends on Saturday, March 3, 2012. The ending dates of the fiscal quarters are May 28, August 27, November 26, 2011, and March 3, 2012. The first three quarters are 13 weeks, the fourth quarter is 14 weeks.
Our fiscal 2012 annual shareholder meeting will be held June, 2012, at our corporate headquarters in Richfield, Minnesota.
Please contact our transfer agent:
P.O. Box 43078, Providence, RI 02940-3078
Phone: (877) 498-8861 or (781) 575-2879
Hearing impaired: (800) 952-9245
Best Buy first offered shares of its stock registered with the SEC on April 18, 1985, in an offering led by Dain Bosworth (now RBC Dain Rauscher).
Information on stock splits and dividends can be found here.
For more information about the number of Best Buy Co., Inc. shares outstanding and other company fundamentals, please click here.
A list of the analysts currently following Best Buy can be found here.
Best Buy has instituted a Dividend Reinvestment Plan and Direct Stock Purchase Program which is handled by our transfer agent, Computershare.
Please click here for information on those programs.
The par value is $.10.
What products and services does Best Buy offer?
How many stores does Best Buy operate and how big are they?
What is your relationship with The Carphone Warehouse?
How does your Reward Zone customer loyalty program work?
Best Buy stores and online channels have offerings in six revenue categories: consumer electronics, computers & mobile phones, entertainment, appliances, services and other.
Consumer electronics: consumer electronics consists of video and audio products. Video products include televisions, navigation products, digital cameras and accessories, digital camcorders and accessories, e-Readers and DVD and Blu-ray players. Audio products consist of MP3 players and accessories, home theater audio systems and components, musical instruments and mobile electronics such as car stereo and satellite radio products.
Computers & Mobile Phones: notebook and desktop computers, tablets, monitors, mobile phones and related subscription service commissions, hard drives, networking equipment and related accessories such as printers.
Entertainment: gaming hardware and software, DVDs, Blu-rays, CDs, digital downloads and computer software.
Appliances: major appliances as well as small electrics.
Services: service contracts, extended warranties, computer-related services, product repair, and delivery and installation for home theater, mobile audio and appliances.
Other: noncore offerings such as snacks and beverages.
We operate more than 4,100 stores in multiple formats. For example in the U.S. we have 1,200 square foot Best Buy Mobile store as well as 20,000, 30,000 and 45,000 square foot Best Buy big box stores. In Canada, Future Shop stores average 26,000 square feet and Canadian Best Buy stores average 32,000 square feet. In Europe, The Carphone Warehouse and The Phone House stores average 800 square feet. More information on the number of stores and square footage of Best Buy’s store portfolio can be found here.
We own 50% of Best Buy Europe, which is a joint venture with Carphone Warehouse Group (CPW). Best Buy Europe is comprised of 1) The Carphone Warehouse and The Phone House stores in nine European countries, 2) U.K.-based Best Buy big box stores and 3) a profit share from the U.S. Best Buy mobile phone business.
Best Buy Europe results are 100% consolidated with Best Buy Co.’s financials. For more information, please see this accounting flow chart.
Reward Zone is a program to reward our customers and encourage them to shop at Best Buy even more often. Customers can join for free and then earn Reward points for almost every purchase. Click here for more information.
Our Investor Relations Web site provides a great deal of financial information, including current and past years' annual reports and SEC filings.