Best Buy reclaims Best National Retailer title
FROM TWICE: Comes amid international expansion
By Alan Wolf of TWICE -- Video Business, 10/13/2008
OCT. 13 | FROM TWICE: Best Buy is a four-time winner of TWICE’s Excellence in Retailing Awards, and with good reason.
Indeed, the company now maintains operations in China, Europe and Canada, and is preparing for its first stores in Turkey and Mexico. Recent news reports out of Russia suggest plans for a Best Buy presence there as well.
The international expansion comes amid market saturation and slowing demand in the United States, and is one of five growth drivers that the company said will help double its sales to $80 billion over the next five years. As president/COO Brian Dunn recently told shareholders at Best Buy’s annual meeting, the goal is ambitious but not unprecedented, as the retailer had previously doubled its top line to $40 billion between 2002 and 2007.
Read the full story on TWICE.com.
