BBY - BEST BUY
BEST BUY CO INC (NYSE: BBY) was founded in 1966 by Richard M. Schulze and James Wheeler under the name Sount of Music. In the beginning it was served as an audio specialty business. In 1983 the company changed its name to Best Buy.
Best Buy offers up a variety of specialty retail items in the consumer electronics sector, while moving into other areas like entertainment software and products for home offices, which is a booming sector. They're also selling major appliances to cover the majority of electronic home needs of its customers.
Some of the brands under the company umbrella are Geek Squad, Magnolia Audio Video, Five Star and The Carphone Warehouse.
Included in some of Best Buy's acquisitions are Napster, Carphone Warehouse's retail division, Speakeasy, and a majority interest in Jiangsu Five Star.
Besides the United States, Best Buy also has a presence in Canada, Mexico, Europe and China, with 1,021 Best Buy stores operating in the United States as of early 2009.
The company, which is headquartered in Richfield, Minnesota, first went public in 1969.
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