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BEST BUY:
BEST BUY’S CORE VALUES
Have fun while being the best Learn from challenge and change Show respect, humility and integrity Unleash the power of our people

LEARNING FROM CHALLENGE &CHANGE
HUMBLE BEGINNINGS GROWTH AND CHALLENGE
1974 Sound of Music moves into new 1966 Richard Schulze and business partner open the
Sound of Music store in St. Paul, Minnesota. Sound of Music acquiresKencraft Hi-Fi Company and Bergo Company. company; three stores open in the Twin Cities area. annual revenues.

UNPRECEDENTED GROWTH FORGING NEW PATHS
1993 Best Buy becomes the nation’ssecond-largest
consumer electronics retailer.

REACHING NEW HEIGHTS
2000 Best Buy enters the online retailing business by launching www.bestbuy.com; 2001 Best Buy enters the international marketplace withthe
acquisition of Canada-based Future Shop. stores open in the greater Toronto area.

Fortune magazine names Best Buy one of the top 10 performing stocks since 1990; Best Buy acquires Magnolia Hi-Fi(now called Magnolia Audio Video).

1983 Sound of Music board of directors approves
headquarters in Bloomington, Minnesota. a new corporate name, Best Buy Co., Inc.; Best Buy opens its firstsuperstore in Burnsville, Minnesota. raises $8 million.

1994 Best Buy establishes the Best Buy Children’s
Foundation to invest in organizations and programs committed to making a difference in thelives of children.

2002 Best Buy and Geek Squad join forces; Eight Best Buy Canada 2003 Best Buy opens its first global sourcing office in
Shanghai, China, and consolidates its corporate headquartersin Richfield, Minnesota.

1978 Sound of Music operates nine stores in Minnesota by year end. 1981 A tornado hits the Roseville, Minnesota,
store; Sound of Music responds with a “Tornado Sale,”introducing low prices in a “no frills” retail environment. As a measure of the success of the enhanced assortment, stores average $350 in sales per square foot versus an industry average of $150-$200...