• Annual revenue: $40 billion (2008)
    • Fortune 500:
      1. 72 (2007)
    • Headquarters: Richfield, Minnesota
    • Staff: 128,000
    • CEO: Brad Anderson
    • President: Brian J. Dunn
    • Founded in 1983
    • Named Forbes "Company of the Year" in 2004
    • Stock: NYSE: BBY
  • Best Buy is the largest consumer electronics retailer in both the U.S. and Canada, as well as the owner of Geek Squad, a computer services company. Best Buy controls 21% of the retail consumer electronics market in the United States and Canada, and also has stores in Puerto Rico, China, Mexico and Turkey.

    In March 2009, a class action lawsuit was filed in a New York district federal court stating Best Buy allegedly had a secret "Anti-Price Matching Policy". Juan Ortiz, supervisor at three Connecticut Best Buy, as well as other former Best Buy employees claim they has orders from management to deny legitimate customer price match requests.Hartford Courant: Best Buy's Secret "Anti-Price Matching Policy" (March 23, 2009)

  • Key Dates

    1. 1966: Audio specialty store "Sound of Music" opened in Saint Paul, Minnesota
    2. 1983: Sound of Music adopted the Best Buy corporate name
    3. 1987: Best Buy debuted on NYSE with symbol BBY
    4. 1989: Company adopted current "yellow tag" logo
    5. 1997: First electronic retailer to sell DVDs
    6. 2004: Company incorporated Geek Squad offices in every store
    7. 2007: First Best Buy in China opened
    8. 2008: First Best Buy Mobile stores opened

  • Anti-Price Matching Policy

    • A pending lawsuit by Ct Attorney General Richard Blumenthal against Best Buy alleges, "Corporate headquarters disseminated the anti-price matching policy to regional managers, store managers, assistant managers, and necessary store personnel. Best Buy taught its employees how to deny price match requests in its training facilities in New York. Best Buy provided financial bonuses based, in part, on denying proper price match requests. Best Buy denied more than 100 proper price match requests per store per week."Hartford Courant: Best Buy's Secret "Anti-Price Matching Policy" (March 23, 2009)

  • Best Buy Mobile Store

    • In October 2008, Best Buy announced the launch of the Best Buy Mobile store. The stores are located in shopping malls and offer mobile devices for sale. Best Buy Mobile employees teach customers how to make all of their mobile devices, such as cell phones and portable computers, work together.Press Release: Best Buy Mobile Unveils New "Mobile Life" Store(October 15, 2008)

About this page

  • Page Views
    279
What is this?

Page Manager

easyeboy
M$5.25
What is this?
This page currently has no vertical manager.