![]() ![]() His first step was to expand Sound of Music's offerings to include appliances and VCRs. Departing the seminar as a "reformed controller," Schulze saw the dynamic possibilities that lay ahead and turned them into reality. Biemesderfer explained: "Schulze had come to realize that there wasn't much of a future in a market glutted with vendors, serving a shrinking audience of 15- to 18-year-olds with limited resources." His ability to alter the course of his company was enhanced by a weeklong management seminar he attended in 1981. Then, according to an Executive of the Year cover story for Corporate Report Minnesota, Schulze said, "The lights began to turn on." Writer S.C. Four years later Schulze bought out his partner and proceeded to expand his retail chain his product line, however, was limited to audio components until the early 1980s. ![]() Paul, Minnesota, in an attempt to capture a share of the Twin Cities' home and car stereo retail market. In 1966 Schulze and a partner established Sound of Music, Inc. Early Historyīest Buy is the brainchild of the company's founder and chairman, Richard M. Overall, Best Buy's revenue mix has consumer electronics generating 37 percent of the total revenues home office products, 35 percent entertainment software, 22 percent and appliances, 6 percent. Each of the company's business units also runs an electronic shopping web site on the Internet. The average Future Shop outlet occupies approximately 21,000 square feet of retail space. ![]() Future Shop, operating more than 100 stores throughout Canada, is that nation's largest electronics retailer, offering a wide selection of digital products, televisions, computers, music, and appliances. These stores are about 10,000 square feet on average. By early 2004, Magnolia Audio Video, formerly called Magnolia Hi-Fi, operated 19 stores in Washington, Oregon, and California offering high-end consumer electronics and providing expert design and installation services. In the early 2000s, Best Buy acquired two other chains: Seattle-based Magnolia Audio Video and Burnaby, British Columbia –based Future Shop. In addition to personal computers, computer peripheral equipment, and consumer video and audio products, Best Buy outlets, which are on average about 44,000 square feet in size, offer large and small appliances, ranging from refrigerators to coffeemakers, and entertainment software, including compact discs, video games, DVD and VHS movies, and computer software. In early 2004, the company's flagship Best Buy chain included more than 600 stores in 48 states (the exceptions being Hawaii and Wyoming) as well as 19 more in Canada. is the leading consumer electronics retailer in the United States, far outpacing archrival Circuit City Stores, Inc. NAIC: 443112 Radio, Television, and Other Electronics Stores 443111 Household Appliance Stores 443120 Computer and Software Stores 443130 Camera and Photographic Supplies Stores 451140 Musical Instrument and Supplies Stores 451220 Prerecorded Tape, Compact Disc, and Record Stores 454110 Electronic Shopping and Mail-Order Houses Incorporated: 1966 as Sound of Music, Inc. ![]()
0 Comments
Leave a Reply. |
Details
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |