2004

REACHING NEW LEARNING FROM HEIGHTS UNPRECEDENTED BEST BUY: CHALLENGE & CHANGE GROWTH 2000 Best Buy enters the online retailing business by launching www.bestbuy.com; FORGING NEW Fortune magazine names Best Buy one of the top 10 performing stocks since PATHS 1990; Best Buy acquires Magnolia Hi-Fi (now called Magnolia Audio Video). BEST BUY’S CORE VALUES 2001 Best Buy enters the international marketplace with the Have fun while being the best GROWTH AND 1993 Best Buy becomes the nation’s second-largest acquisition of Canada-based Future Shop. consumer electronics retailer. Learn from challenge and change CHALLENGE Best Buy and Geek Squad join forces; Eight Best Buy Canada HUMBLE 2002 Show respect, humility and integrity 1994 Best Buy establishes the Best Buy Children’s stores open in the greater Toronto area. Foundation to invest in organizations and BEGINNINGS 1983 Sound of Music board of directors approves Best Buy opens its first global sourcing office in Unleash the power of our people programs committed to making a difference 2003 a new corporate name, Best Buy Co., Inc.; Shanghai, China, and consolidates its corporate headquarters in the lives of children. Best Buy opens its first superstore in in Richfield, Minnesota. 1974 Sound of Music moves into new Burnsville, Minnesota. Best Buy breaks into Fortune magazine’s headquarters in Bloomington, Minnesota. 1995 Forbes magazine names Best Buy “Company of the Year.” annual ranking of America’s 500 largest 2004 1985 Best Buy’s initial public offering on the Nasdaq 1978 Sound of Music operates nine stores in raises $8 million. corporations, listed at number 373; Best Buy 2005 Best Buy acquires AUDIOVISIONS and Pacific Sales. 1966 Richard Schulze and business partner open the Minnesota by year end. implements the Standard Operating Platform Sound of Music store in St. Paul, Minnesota. 1986 A public stock offering raises $33.6 million, 1981 A tornado hits the Roseville, Minnesota, (SOP), developed to support and manage 2006 Best Buy acquires majority interest in helping finance a 12-store expansion. every aspect of the company’s business. 1967 Sound of Music acquires Kencraft Hi-Fi store; Sound of Music responds with a Jiangsu Five Star Appliance stores in China. Best Buy unveils a revolutionary “grab-and-go” Company and Bergo Company. “Tornado Sale,” introducing low prices in a 1989 1999 Best Buy and Microsoft partner to 2007 Best Buy celebrates the official grand “no frills” retail environment. As a measure store format in a non-commissioned, cross-promote products. opening of its first retail store in 1969 Sound of Music stock trades as a publicly-held of the success of the enhanced assortment, warehouse-style environment; Best Buy’s brand company; three stores open in the Twin Cities Shanghai, China; Best Buy acquires stores average $350 in sales per square logo changes to the familiar yellow tag. Speakeasy, Inc. area. foot versus an industry average of 1970 Sound of Music hits the $1 million mark in $150-$200 per square foot. annual revenues.

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