BEST BUY REPORTS JUNE 1992 SALES
BEST BUY REPORTS JUNE 1992 SALES MINNEAPOLIS, July 9 /PRNewswire/ -- Best Buy Co., Inc.
(NYSE: BBY) today reported sales for June 1992 -- a five-week period ended July 4 -- the fourth period of its fiscal 1993 year.
According to Allen Lenzmeier, chief financial officer, June 1992 sales of $102 million were 48 percent more than the $69 million achieved for the comparable five-week period last year. Year-to-date sales of $349 million also represent a 48 percent increase, as compared to $235 million last year. Comparable store sales increased 14 percent for June 1992 and have increased 16 percent year-to-date. The company currently operates 74 stores, 51 of which were considered comparable in June. Seven stores in eastern Wisconsin were excluded from the comparable store computation in June as they were being remodeled to the company's new store format during June of last year. The company opened its 74th store on June 26 in Amarillo, Texas, its 16th location in that state. Amarillo marks the beginning of the company's fiscal 1993 expansion plans of 30 new stores including the entrance into the Chicago market. 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 specialty retailer in the United States. The company sells nationally recognized name-brand consumer electronics, major appliances, home office products, entertainment software and photographic equipment at 74 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- 7/9/92 /CONTACT: Richard M. Schulze, 612-896-2448, or Allen Lenzmeier, 612-896-2454, both of Best Buy/ (BBY) CO: Best Buy Co., Inc. ST: Minnesota IN: REA SU:
KH -- MN003 -- 7703 07/09/92 08:31 EDT
|Printer friendly Cite/link Email Feedback|
|Date:||Jul 9, 1992|
|Previous Article:||JUNE SALES UP 24.2 PERCENT AT Hi/LO AUTOMOTIVE|
|Next Article:||ROSS STORES REPORTS JUNE SALES|