Best Buy is an American multinational consumer electronics retailer headquartered in Richfield, Minnesota. Originally known as Sound of Music, it was renamed to Best Buy in 1983 with a focus on consumer electronics. Listed below are some of the stores you should check out at your next Best Buy. Read on to learn about some of our favorite places to shop at Best Buy. You can find anything from electronics to furniture and everything in between. Best Buy also has many unique locations, such as Magnolia Hi-Fi and Geek Squad.
Future Shop
The Future Shop was a Canadian electronics store chain that closed its doors in 2013. The company was founded in 1982 by Hassan Khosrowshahi and grew to become Canada’s largest electronics retailer in 1990. As of 2013, the chain operated 139 locations across Canada. Despite its high-profile bankruptcy filing, Future Shop continues to serve the public as an important source of information for electronics and home appliances. Here are some facts about the company that may surprise you.
Best Buy is closing more than half of its stores across Canada. The retailer plans to convert the remaining stores into Best Buy stores, which is expected to cost up to 350 million. While the closures will affect 900 people, they are not temporary. The company is also planning to open state-of-the-art Future Shop small-concept web stores and mobile locations across Canada. Although these moves will result in the loss of more than 900 jobs in Canada, the company says they are committed to continuing their success as a business.
Magnolia Hi-Fi
In 2000, Best Buy acquired Magnolia Hi-Fi Inc. for $87 million, taking over a $598 million debt. It operated 13 retail locations and had over 100 million dollars in sales in 1999. Best Buy initially planned to keep the Magnolia retail stores open as separate high-end luxury brands, though the company eventually decided to merge them into Best Buy showrooms. The Seattle-based company had 46 years of experience in high-end electronics.
The brand is one of the largest in the world, with stores in Seattle and New York. It was founded in 1954 by Len Tweten, an early pioneer of audio and home theater. In 1988, Best Buy purchased the brand and built it into 18 locations. It is a part of the Commerce of detail cyclical. Best Buy has been in business since 1949, and Magnolia has a prestigious place in the electronics industry.
Geek Squad
K., a Consumerist reader, recently ended a 4.5-year tenure as a Best Buy Geek Squad agent. She cited problems with the Geek Squad’s training program, which included outdated or inadequate materials. In addition, employees from other departments were promoted to the Geek Squad, giving the appearance of being a technician. As a result, she says, the Geek Squad’s employees are often ill-prepared for their jobs.
The Geek Squad, an in-store tech support service offered by Best Buy, helps customers with all types of technology problems. From slow computer to a laptop with malware, Geek Squad technicians can solve any problem. Their expertise and experience can save you a lot of time and money and are comparable to hiring an unlimited IT department. Here’s a look at some of the services offered by the Geek Squad:
Speakeasy
It’s hard to imagine how Best Buy could be interested in buying Speakeasy. The company has been a popular choice for small and midsize customers, and has even offered some tech-friendly services like naked DSL. Speakeasy even has customer support that’s renowned for its friendliness. But, the merger will give it more resources, access to more retail stores, and a strong brand name. While the company will continue to run its business as usual, expect accelerated growth as a result.
Despite its limited brand recognition, Speakeasy was able to carve a niche for itself in the US market, particularly among hardcore computing enthusiasts and corporate users. In fact, the company is reportedly paying $97 million for Speakeasy. Speakeasy will operate as a wholly owned subsidiary of Best Buy, under the name Best Buy For Business. The acquisition is expected to close in the first quarter of Best Buy’s fiscal year 2008, and all 300 Speakeasy employees will retain their jobs.
