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BEST BUY COMPANY REPORTS RECORD NOVEMBER 1991 AND THIRD QUARTER SALES

BEST BUY COMPANY REPORTS RECORD NOVEMBER 1991 AND THIRD QUARTER SALES
 MINNEAPOLIS, Dec. 4 /PRNewswire/ -- Best Buy Co., Inc. (NSYE: BBY) today reported sales for November 1991 (Nov. 3 through Nov. 30), and the third quarter of the company's 1991-1992 fiscal year.
 According to Allen Lenzmeier, chief financial officer, November 1991 sales of $88 million were 35 percent more than the $65 million achieved for the comparable four-week period last year. Sales for the third fiscal quarter (Sept. 1 through Nov. 30) were $231 million, a 35 percent increase over $171 million for the comparable period last year. Sales for the first nine months were $590 million, an increase of 31 percent over $449 million for the first nine months last year.
 Comparable store sales increased 5 percent for November 1991, and increased 10 percent for the third quarter and first nine months. November comparable stores sales were adversely affected by Thanksgiving occurring a week later in the month. (November 1991 sales included two days after Thanksgiving whereas November 1990 included nine days.) Snow and ice storms affected sales in the company's largest market of Minneapolis/St. Paul on Friday and Saturday after Thanksgiving. The company currently has 73 locations, 52 of which are considered comparable. Best Buy considers a store to be comparable the 14th full month following its opening.
 Best Buy opened 13 stores during the third quarter: the company's eighth store in Dallas, Texas, on Sept. 20; two stores in Austin, Texas, on Nov. 1; four stores in Denver and one in Colorado Springs, Colo., on Nov. 8; a second store in Madison, Wis., on Nov. 15; and four stores in Houston, Texas, on Nov. 22.


$ Best Buy reports sales on a 5-4-4 week basis. Third quarter earnings are expected to be released late December. 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 73 stores in 10 states (Minnesota, Texas, Wisconsin, Missouri, Illinois, Colorado, Iowa, Kansas, Nebraska and South Dakota). Best Buy's common stock is traded on the New York Stock Exchange, symbol BBY.
 -0- 12/4/91
 /CONTACT: Richard M. Schulze, 612-896-2448 or Allen Lenzmeier, 612-896-2454, both of Best Buy Co./
 (BBY) CO: Best Buy Co., Inc. ST: Minnesota IN: REA SU: ECO


DS -- MN004 -- 9063 12/04/91 09:40 EST
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Publication:PR Newswire
Date:Dec 4, 1991
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