Best Buy Co., Inc. 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. The company's subsidiaries include Geek Squad, Magnolia Audio Video, Pacific Sales, and in Canada operates under both the Best Buy and Future Shop label (Dual Branding). Together these operate more than 1,150 stores in the United States, Puerto Rico, Canada, China, 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. The company's corporate headquarters are located in Richfield, Minnesota.
Best Buy was named "Company of the Year" by Forbes magazine in 2004, "Specialty Retailer of the Decade" by Discount Store News in 2001, ranked in the Top 10 of "America's Most Generous Corporations" by Forbes magazine in 2005, and made Fortune magazine's List of Most Admired Companies in 2006.
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. 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.
* Best Buy is engaged in various activities to promote the promotion of candidates and political organizations. * The company complies with all the laws related to the political contributions and strives to contribute to the parties that are interested in the well being of their industry (Best Buy, 2009).
* The economic slowdown has no doubt affected the business operations of Bust Buy Co. and they are facing consumer related challenges at every point in the market. * Due to these economic conditions, in 2008, Best Buy Co. asked