Minnesota-based Best Buy Co., Inc. is the leading consumer electronics retailer in the United States, far outpacing archrival Circuit City Stores, Inc. in revenues if not in store count. In early 2004, the company's flagship Best Buy chain included more than 600 stores in 48 states (the exceptions being Hawaii and Wyoming) as well as 19 more in Canada. In addition to personal computers, computer peripheral equipment, and consumer video and audio products, Best Buy outlets, which are on average about 44,000 square feet in size, offer large and small appliances, ranging from refrigerators to coffeemakers, and entertainment software, including compact discs, video games, DVD and VHS movies, and computer software. In the early 2000s, Best Buy acquired two other chains: Seattle-based Magnolia Audio Video and Burnaby, British Columbia-based Future Shop. By early 2004, Magnolia Audio Video, formerly called Magnolia Hi-Fi, operated 19 stores in Washington, Oregon, and California offering high-end consumer electronics and providing expert design and installation services. These stores are about 10,000 square feet on average. Future Shop, operating more than 100 stores throughout Canada, is that nation's largest electronics retailer, offering a wide selection of digital products, televisions, computers, music, and appliances. The average Future Shop outlet occupies approximately 21,000 square feet of retail space. Each of the company's business units also runs an electronic shopping web site on the Internet. Overall, Best Buy's revenue mix has consumer electronics generating 37 percent of the total revenues; home office products, 35 percent; entertainment software, 22 percent; and appliances, 6 percent.
