Best Buy Launches Home Theater Specialty Stores
By Business Wire (press release)
MINNEAPOLIS--(BUSINESS WIRE)--June 1, 2005--Best Buy customers in markets across the United States soon will encounter more products and services for making the most of technology in their work and play. On June 3, existing Best Buy stores in 12 major cities will open their doors to customized "store-within-a-store" experiences for small business owners and home theater enthusiasts alike.
At new Best Buy For Business locations, trained specialists will provide business solutions and services to businesses with up to 20 employees. These customers tend to seek convenient, personal service from specialized advisors, and technical support whenever and wherever they need it. To meet these expectations, Best Buy For Business will offer a broader selection of technology products, such as servers and professional notebooks, professional advice and 24/7 IT support via the Geek Squad service. In addition, Best Buy For Business will encourage networking among local small business professionals in exclusive events with business leaders, local professional organizations and the Small Business Administration.
Best Buy Goes Upscale Home Theater
Magnolia Home Theater is a specialty store within Best Buy for enthusiasts of state-of-the-art home theater. These customers typically desire a superior form of home entertainment for themselves, their friends and family. They are looking not only for a premium product portfolio, but in-home design services and quick, professional installation. Magnolia Home Theater will address these needs with a portfolio of brands previously available only at high-end, audio-video stores, and by training its sales associates to become Certified Technology Specialists (CTS) through the International Communications Industries Association. Comfortable demonstration rooms encourage personal interaction with premium home theater brands such as Pioneer Elite, Sony, Fujitsu, MartinLogan and Stewart Filmscreen. The product offering will be combined with expert service from home theater consultants, in-home system designers and same-day installation.
Forty-five existing Best Buy stores ranging in size from 20,000 to 45,000 square feet will deliver these new customer experiences beginning June 3. The stores are located in Baltimore, Boston, Chicago, Denver, Las Vegas, Los Angeles, Miami, Minneapolis, New York, Phoenix, San Francisco and Washington, D.C.
The improvements within these Best Buy stores reflect the company's customer centricity operating model, which tailors store experiences to particular customer needs and expectations. The model encourages associates to get to help customers meet their technology and entertainment needs in a more personalized way. After launching at 68 Best Buy stores in California in 2004, the company's customer centric platform is planned to expand to 235 to 285 stores nationally by fiscal year-end.
About Best Buy Co., Inc.
Best Buy Co., Inc. (NYSE:BBY) is an innovative Fortune 100 growth company that continually strives to create superior customer experiences. Through more than 830 retail stores across the United States and in Canada, our employees connect customers with technology and entertainment products and services that make life easier and more fun. We sell consumer electronics, home-office products, entertainment software, appliances and related services. A Minneapolis-based company, our operations include: Best Buy (BestBuy.com and BestBuyCanada.ca), Future Shop (FutureShop.ca), Geek Squad (GeekSquad.com) and Magnolia Audio Video (Magnoliaav.com). We support our communities through employee volunteerism and grants from The Best Buy Children's Foundation.
