Schulze and a business partner opened Sound of Music, an electronics store specializing in high fidelity stereos in Saint Paul, Minnesota. Schulze financed the opening of his first store with his personal savings and a second mortgage he took out on his family’s home. In 1967, Sound of Music acquired Kencraft Hi-Fi Company and Bergo Company. Sound of Music pulled in $1 million in revenue and made about $58,000 in profits in its first year. By 1969, Schulze had bought out his business partner, Sound of Music had three stores and the company became a publicly held company listed on the NASDAQexchange. Schulze in 1966 and is headquartered in Richfield, MN. The company changed its name from Sound of Music, Inc. The company also markets its products under the brand names: Best Buy, Audiovisions, Best Buy Mobile, The Carphone Warehouse, Five Star, Future Shop, Geek Squad, Magnolia Audio Video, Napster, Pacific Sales and The Phone House. and its territories, which includes Canada, Europe, China, Mexico and Turkey. The International segment is comprised of all operations outside the U.S. The Domestic segment is comprised of the operations in all states, districts and territories of the U.S., operating under various brand names, including but not limited to, Best Buy, Best Buy Mobile, Geek Squad, Magnolia Audio Video, Napster and Pacific Sales. The company operates through two business segments: Domestic and International. is a multinational retailer, which provides consumer electronics, home office products, entertainment products, appliances and related services. 0 Views Best Buy Co., Inc. history, profile and history videoīest Buy Co., Inc.
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