According to company spokeswoman Connie Molby, the company has two standard sizes for its stores. The 30,000 sf size is developed in areas with a population density of 200,000 people. In areas with 300,000 people or more the company will build a 45,000-sf store
This store is one of approximately 60 new retail locations Best Buy will open across the country this year. The Minneapolis-based company operates retail stores and commercial web sites under the names: Best Buy, Magnolia Hi-Fi, Media Play, On Cue, Sam Goody, and Suncoast. The company has over 1,700 retail stores nationwide, in Puerto Rico and in the US Virgin Islands.
Best Buy recently reported net earnings of $70 million, or 22 cents per diluted share, for the third quarter of this year, up 27% from $55 million, or 17 cents per diluted share, for the same period last year. These results include the impact of a three-for-two stock split, which took effect on May 10, 2002.
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