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BEST BUY REPORTS MAY 1992 AND FIRST QUARTER SALES ALSO ANNOUNCES NEW STORE LOCATIONS

 BEST BUY REPORTS MAY 1992 AND FIRST QUARTER SALES
 ALSO ANNOUNCES NEW STORE LOCATIONS
 MINNEAPOLIS, June 4 /PRNewswire/ -- Best Buy Co., Inc. (NYSE: BBY) today reported sales for May 1992, a four-week period ended May 30, and the first quarter of the company's 1993 fiscal year.
 According to Allen Lenzmeier, chief financial officer, May 1992 sales of $78 million were 39 percent more than the $56 million achieved for the comparable four-week period last year. Sales for the first fiscal quarter were $246 million, a 48 percent increase over $166 million for the comparable period last year.
 Comparable store sales increased 9 percent for May 1992 and increased 17 percent for the first quarter. The company currently has 73 locations, 58 of which are considered comparable. Best Buy considers a store to be comparable the 14th full month following its opening.
 The company has signed leases/commitments for 24 of the expected 30 new stores to be opened this year. Fifteen initial locations for the Chicagoland area have been identified in the suburbs of Schaumburg, Lincoln Park, Oakbrook, Joliet, Orlando Park, Merrillville, Calumet City, Crystal Lake, Bloomingdale, Matteson, Bedford Park, Arlington Heights, Downers Grove, Skokie and Chicago Ridge. Additionally, stores will open in the following cities: two in, Oklahoma City and one in Tulsa, Okla.; and one each in Evansville, Ind.; Little Rock, Ark.; Albuquerque, N.M.; and Amarillo, El Paso and Beaumont, Texas. Grand openings of these locations are slated for the late summer/early fall. Indiana, Arkansas, Oklahoma and New Mexico represent new states for the company and will bring the total to 14 states in which Best Buy operates.
 Best Buy reports sales on a 5-4-4 week basis. First quarter earnings are expected to be released on June 23. Best Buy is the third largest publicly held consumer electronics and major appliance specialty 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.)
 -0- 6/4/92
 /NOTE TO EDITORS: The new locations will feature up to 28,000 square feet of retail space and include Best Buy's customer-friendly retail concept. Its features have been designed to provide customers with a unique shopping experience, including Best Buy's commitment to a wide selection of brand-name products with complete customer services at competitive prices. Best Buy places heavy emphasis on a customer friendly environment, which virtually eliminates frustrations usually associated with shopping for electronics and appliances.
 Job fairs will be held in each city for management, as well as sales, service and administrative candidates. The company employs approximately 50-75 people per location./
 /CONTACT: Allen Lenzmeier of Best Buy, 612-896-2454/
 (BBY) CO: Best Buy Co., Inc. ST: Minnesota IN: REA SU:


AH-SM -- NY008 -- 6869 06/04/92 08:30 EDT
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Publication:PR Newswire
Date:Jun 4, 1992
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