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Product Range of Best Buy

Product Range of Best Buy

Discuss Product Range of Best Buy within the Marketing Management forums, part of the PUBLISH / UPLOAD PROJECT OR DOWNLOAD REFERENCE PROJECT category; Best Buy Co., Inc. (NYSE: BBY) is a specialty retailer of consumer electronics in the United States, accounting for 19% ...

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Netra Shetty
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netrashetty
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Product Range of Best Buy - June 10th, 2011

Best Buy Co., Inc. (NYSE: BBY) is a specialty retailer of consumer electronics in the United States, accounting for 19% of the market. It also operates in Mexico, Canada, China, Turkey and the United Kingdom.[3] The company's subsidiaries include Geek Squad, CinemaNow, Magnolia Audio Video, Pacific Sales, and, in Canada operates under both the Best Buy and Future Shop label. Together these operate more than 1,150 stores in the United States, Puerto Rico, Canada, China,[4] Mexico, and Turkey. In addition, the company has rolled out over 100 Best Buy Express Automated Retail stores or "ZoomShops", operated by Zoom Systems, in airports and malls around the U.S.[5] The company's corporate headquarters are located in Richfield, Minnesota.
Best Buy was named "Company of the Year" by Forbes magazine in 2004,[6] "Specialty Retailer of the Decade" by Discount Store News in 2001,[7] ranked in the Top 10 of "America's Most Generous Corporations" by Forbes magazine in 2005 (based on 2004 giving),[8] and made Fortune magazine's List of Most Admired Companies in 2006.[9]
On March 9, 2009, Best Buy became the primary electronics retail store (online and bricks and mortar) in the eastern United States, after smaller rival Circuit City went out of business.[citation needed] Fry's Electronics remains a major competitor in the western United States. Many locations feature in-store pickup, which can be arranged through the company's website.[10]
Best Buy is also the largest retailer of cellular phones with phones from Verizon Wireless, AT&T Wireless, Sprint PCS, and T-Mobile.[citation needed] Best Buy also has standalone Best Buy Mobile stores in shopping malls that sell only a subset of products carried at the larger stores. Best Buy Mobile is also the only cellular phone retailer to feature no mail-in rebates for all of their cellular phones, instead opting to include most rebates instantly in the sale price of their phones.[citation needed]
In 2011, during the three-month period ended February 26, Best Buy saw its revenue and profits slide, but generated a profit of $651 million on revenue of $16.26 billion. In comparison to the same period in 2010, it tallied $16.55 billion in revenue and a $779 million profit.[1



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