BEST BUY COMPANY REPORTS OCTOBER 1991 SALES
BEST BUY COMPANY REPORTS OCTOBER 1991 SALES MINNEAPOLIS, Nov. 7 /PRNewswire/ -- Best Buy Co., Inc. (NYSE: BBY)
reported sales for October 1991 (Oct. 6 through Nov. 2), the eighth period of its 1992 fiscal year.
According to Allen Lenzmeier, chief financial officer, October 1991 sales of $66 million were 40 percent more than the $47 million achieved for the comparable four-week period last year. Year-to-date sales were $501 million, a 30 percent increase over $384 million for the comparable eight-month period last year. Comparable store sales increased 17 percent for October 1991 and increased 11 percent for the eight-month period. The company currently has 63 stores, 52 of which are considered comparable. Best Buy opened two new stores in Austin, Texas, on Nov. 1. Best Buy reports sales on a 5-4-4 week basis and earnings are disclosed quarterly. Best Buy is the third largest publicly held consumer electronics and major appliance retailer in the U.S. The company sells nationally recognized name brand consumer electronics, major appliances, home office products, entertainment software and photographic equipment at 63 stores located in Minnesota, Iowa, Wisconsin, South Dakota, Illinois, Kansas, Missouri, Nebraska and Texas. Best Buy's common stock is traded on the New York Stock Exchange under the symbol BBY. -0- 11/07/91 /CONTACT: Richard Schulze, 612-896-2448 or Allen Lenzmeier, 612-896-2454, both of Best Buy/ (BBY) CO: Best Buy Company, Inc. ST: Minnesota IN: SU: ERN DS-KH -- MN003 -- 2095 11/07/91 09:55 EST
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|Date:||Nov 7, 1991|
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