Best Buy wants to be the best consumer electronics outlet in the US and beyond. The multinational retailer sells both products and services through three primary channels: retail stores, online, and call centers. Its branded store banners include Best Buy, Best Buy Mobile, The Carphone Warehouse, The Phone House, Five Star, Future Shop, Geek Squad, Magnolia Audio Video, and Pacific Sales. Its stores sell a variety of electronic gadgets, movies, music, computers, mobile phones, and appliances. On the services side, it offers installation and maintenance, technical support, and subscriptions for mobile phone and Internet services. Amid declining sales, Best Buy is focused on a turnaround. Geographic Reach
The US is Best Buy's largest market, accounting for nearly three-quarters of its total sales. Europe and Canada each contribute about 10% of sales. The consumer electronics retailer has about 870 stores in the UK and Ireland under The Carphone Warehouse banner, as well 1,500-plus Phone House Stores in France, Germany, Netherlands, Portugal, Spain, and Sweden. Best Buy rings up less than 5% of its sales in China, where is has about 210 stores under the Five Star banner. Operations
Best Buy's operations consist of a domestic segment and an international segment. The domestic segment focuses on the US market, where Best Buy Mobile (mobile sales and service), Geek Squad (technology support services), and Pacific Sales (kitchen appliance sales and installation) can be found in US Best Buy stores using the store-within-a-store format. Some also operate as standalone stores. (With Best Buy's sales in the tank, the Geek Squad is looking to extend its techie expertise to other venues, including eBay and select Target stores.) Financial Performance
In fiscal 2013 (ended January) Best Buy reported $49.6 billion in sales, a 2% decline versus the prior year. While the company was again unprofitable -- reporting a net loss of $249 million in fiscal 2013 compared with a...
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