Best Buy 2003 Annual Report Download - page 12
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Magnolia Hi−Fi stores offer merchandise in three product categories: consumer electronics, home office and “other”
products. Consumer electronics, the largest product category based on revenue, consists of video and audio equipment. Video
products include television sets, DVD players, digital cameras, digital camcorders, mobile video, VCRs, digital broadcast
satellite systems and video accessories. Audio products include home receivers and amplifiers, home speakers, shelf systems,
portable audio equipment, audio accessories, car stereos and car security systems. The home office category includes
telephones and wireless communication devices. The “other” product category includes extended service contracts, customer
equipment repairs, and in−home and automobile installation labor and parts.
The following table presents Magnolia Hi−Fi revenue, by product category, as a percentage of total Magnolia Hi−Fi revenue:
Product Category
Percentage of
Total Revenue
Fiscal 2003
Percentage of
Total Revenue
Fiscal 2002
Consumer Electronics 87% 86%
Home Office 4% 4%
Other 9% 10%
Total 100% 100%
Operations
Magnolia Hi−Fi stores are typically managed by a store manager, an audio/video sales manager and a mobile electronics sales
manager. Magnolia Hi–Fi stores are generally open 72 hours a week, seven days a week. Depending on an individual store’s volume,
store staffing includes eight to 25 commissioned sales personnel, two to six commissioned mobile electronics installers, one to six
digital products sales personnel, cashiers and warehouse personnel. Advertising, merchandise buying and pricing, and inventory
policies for Magnolia Hi−Fi stores are centrally controlled.
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