Best Buy Co., Inc. (NYSE: BBY) is a Fortune 100 company and the largest specialty retailer of consumer electronics in the United States and Canada, accounting for 17% of the market.

Bests Buy subsidiaries include Geek Squad, Magnolia Audio Video, and Future Shop in Canada, which together operate over 1100 stores in the United States and Canada. The company's corporate headquarters are located in Richfield, Minnesota, USA (near Minneapolis).

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, and made Fortune Magazine's List of Most Admired Companies in 2006.

BestBuy Store

Best Buy sells consumer electronics as well as a wide variety of related merchandise such as computers, software, video games, music, DVDs, cellular phones, digital and video cameras, as well as home appliances (washing machines, dryers, and refrigerators), in a non-commissioned sales environment. Each store also includes a department for A/V equipment for automobiles, offering on-site installation services, as well as a Geek Squad "precinct" for computer repair and warranty service.

Best Buy was the subject of media attention on two separate occasions in late 2005 and again in late 2006 during the release of two popular gaming consoles; the Xbox 360, and the Playstation 3. In December 2005, despite any advertised bundle packages for the Xbox 360, some individual stores required customers to make a minimum purchase of certain accessories, games and/or service plans to be able to purchase the console. This resulted in a corporate-issued apology to customers.

In November 2006, Best Buy was in the headlines again, when an alleged error occurred on the company's website that allowed customers to pre-order the Playstation 3 console. Customers were notified by email explaining that the pre-order was an online error and has been canceled, and that they would not be charged for the new console.

In May 2005, the Wisconsin State Attorney General's office filed a civil action against Best Buy Company, Inc., over several alleged violations of Wisconsin consumer protection laws. Among the allegations: misleading representations to Wisconsin customers about rebates, service plans, supplemental magazine subscriptions, exchange policies, restocking fees, gift cards, and reward zone points.

Sources: Wikipedia and company press releases and public information

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