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BEST BUY CO., INC. REPORTS JUNE 1993 SALES AND PLANS TO ENTER PHOENIX MARKET

 MINNEAPOLIS, July 8 /PRNewswire/ -- Best Buy Co., Inc. (NYSE: BBY), today reported sales for June 1993, a five-week period ended July 3, the fourth period of its fiscal 1994 year.
 According to Allen Lenzmeier, chief financial officer, June 1993 sales of $207 million were 101 percent more than the $103 million achieved for the comparable five-week period last year. Year-to-date sales (18 weeks) of $649 million represent an 86 percent increase, as compared to $349 million last year.
 Comparable store sales increased 28 percent for June 1993 and have increased 19 percent year-to-date. The company currently operates 117 stores, 73 of which were considered comparable in June. Best Buy opened its first location in the state of Michigan during June in Saginaw.
 Richard M. Schulze, founder, chairman & CEO, announced Best Buy's decision to enter the Phoenix market this fall with four to five stores. "Phoenix is the nation's fifteenth largest metropolitan market, which will provide a large sales opportunity and excellent synergies with our central U.S. locations," Schulze stated. The company expects to open 40 stores this fiscal year consisting of 27 locations in metropolitan markets and 13 locations in non-metropolitan markets.
 Best Buy is the nation's second largest publicly held consumer electronics and major appliance specialty retailer. The company, now in its 27th year, sells nationally recognized name brand consumer electronics, home office products, major appliances, entertainment software and photographic equipment at 117 stores in 16 states in the central United States. Best Buy's common stock is traded on the New York Stock Exchange, symbol BBY.
 -0- 7/08/93
 /CONTACT: Allen Lenzmeier, finance, 612-896-2454, or Susan Hoff, media, 612-896-1650, both of Best Buy/
 (BBY)


CO: Best Buy Co., Inc. ST: Minnesota; Airzona IN: REA SU: ECO

DB -- MN003 -- 9324 07/08/93 08:29 EDT
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Publication:PR Newswire
Date:Jul 8, 1993
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