Best Buy
| Best Buy Co., Inc.
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| legal form | Corporation |
| ISIN | US0865161014 |
| founding | 1966 |
| Seat | Richfield , United States |
| management | Hubert Joly, CEO |
| Number of employees | 125,000 |
| sales | $ 39.4 billion |
| Branch | Retail (electronics) |
| Website | www.bestbuy.com |
| As of January 28, 2017 | |
Best Buy is a US company headquartered in Richfield , Minnesota .
Best Buy sells consumer electronics as well as a large number of different products such as computers , software , computer games , music DVDs, cell phones, digital and video cameras, and household appliances such as dishwashers, dryers and freezers. Each Best Buy store also has a range of equipment for vehicles. There are currently 1,379 stores in the United States.
Best Buy owns some brands of its own that are sold in Best Buy's stores. Best Buy currently has five retail brands: Insignia, Dynex, Init, Geek Squad and Rocketfish.
Company history
Best Buy was founded in 1966 when Richard M. Schulze and his business partner Gary Smoliak started a company called Sound of Music in Saint Paul , Minnesota. In 1967 Sound of Music acquired the Kencraft Hi-Fi Company and Bergo Company . The second store opened near the University of Minnesota and the third store opened in Downtown Minnesota. In 1969 the company went public.
In 2001 Best Buy acquired the Canadian company Future Shop Ltd. thereby gaining access to the Canadian consumer electronics retail market. In 2002 the company Geek Squad was acquired.
In 2007, a class action lawsuit against Microsoft and Best Buy was admitted on appeal before the United States Court of Appeals for the Ninth Circuit in San Francisco - despite concerns - on the basis of the RICO Act . The lawsuit was brought in April 2000 by James Odom , who accused both companies of fraud because they exchanged customer information when making purchases using credit cards and the customer was not informed. After investing US $ 200 million in Best Buy , Microsoft had committed to promoting this company, and in return the retailer was supposed to advertise Microsoft's products.
In 2008, Best Buy and Carphone Warehouse announced the establishment of the joint venture Best Buy Europe , in which both sides hold 50 percent.
Turkey's first Best Buy store opened in Izmir in 2010 , followed by the first British branch in Great Britain in spring 2010. It was anticipated that Best Buy would try to gain a foothold across Europe in the long term. By June 2013, all of the around 10 shops were closed again and the joint venture was wound up.
various
The shops are usually light brown and the entrance area is blue. Best Buy hit the headlines in February 2008 after a $ 54 million damages lawsuit was filed for a lost laptop.
Best Buy is the main sponsor of the NASCAR team Haas CNC Racing and its driver Jeff Green .
Individual evidence
- ↑ a b Best Buy 2016 Form 10-K Report , accessed on May 6, 2017
- ↑ Best Buy Store Directory. Best Buy, accessed January 12, 2017 .
- ↑ newsoxy.com:Richard M. Schulze, Best Buy Founder, Agrees To Step Down. (No longer available online.) Archived from the original on October 29, 2013 ; Retrieved October 24, 2013 . (English)
- ↑ Microsoft and Best Buy: A "criminal organization"? on www.golem.de
- ↑ Capital 07/2010 (June 2010), page 86f .: Interview with Roland Weise , the head of Media-Saturn
- ^ The lost laptop and the $ 54 million lawsuit . tgdaily.com. February 12, 2008. Retrieved June 17, 2012.
- ↑ Press Release. " Best Buy on board with Green's No. 66. " NASCAR . dated January 12, 2006; Retrieved November 28, 2006.
Web links
- Official website (English)