Best Buy 2002 Annual Report Download - page 20

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Please read this table in conjunction with Management’s Discussion
and Analysis of Results of Operations and Financial Condition,
beginning on page 20, and the Consolidated Financial Statements
and Notes, beginning on page 34.
(1) Both fiscal 2001 and 1996 included 53 weeks. All other periods
presented included 52 weeks.
(2) During the third quarter of fiscal 2002, we acquired the common
stock of Future Shop Ltd. During the fourth quarter of fiscal 2001,
we acquired the common stock of Musicland Stores Corporation
(Musicland) and Magnolia Hi-Fi, Inc. (Magnolia Hi-Fi). The
results of operations of these businesses are included from their
dates of acquisition.
18 10-Year Financial Highlights
$ in millions, except per share amounts
Fiscal Year(1) 2002(2) 2001(2) 2000 1999 1998
Statement of Earnings Data
Revenues $ 19,59
7
$ 15,32
7
$12,494 $10,065 $ 8,338
Gross profit 4,430 3,059 2,393 1,815 1,312
Selling, general and
administrative expenses 3,493 2,455 1,854 1,464 1,146
Operating income 937 604 539 351 166
Net earnings (loss) 570 396 34
7
216 82
Per Share Data(3)
Net earnings (loss) $1.
77
$ 1.24 $ 1.09 $ .69 $ .30
Common stock price: High 51.4
7
59.25 53.6
7
32.6
7
10.20
Low 22.42 14.00 2
7
.00 9.83 1.44
Operating Statistics
Comparable store sales change(4) 1.9% 4.9% 11.1% 13.5% 2.0%
Inventory turns(5)
7
.5
7
.6
7
.2 6.6 5.6
Gross profit percentage 22.6% 20.0% 19.2% 18.0% 15.
7
%
Selling, general and administrative
expense percentage
1
7
.8% 16.0% 14.8% 14.5% 13.
7
%
Operating income percentage 4.8% 3.9% 4.3% 3.5% 2.0%
Average revenues per store(6) $38 $39 $3
7
$34 $30
Year-End Data
Working capital $ 881 $ 214 $ 453 $ 662 $ 666
Total assets 7,375 4,840 2,995 2,532 2,0
7
0
Long-term debt, including current portion 820 296 31 61 225
Convertible preferred securities ————230
Shareholders’ equity 2,521 1,822 1,096 1,034 536
Number of stores
Best Buy 481 419 35
7
311 284
Magnolia Hi-Fi 13 13 ———
Musicland 1,321 1,309 ———
International 95 — ———
Total retail square footage (000s)
Best Buy 21,599 19,010 16,205 14,017 12,694
Magnolia Hi-Fi 133 133 ———
Musicland 8,806 8,
77
2———
International 1,923 — ———
10-Year Financial Highlights