Best Buy 2003 Annual Report Download - page 16
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Discontinued Operations
Overview
Musicland, which was acquired in the fourth quarter of fiscal 2001, is a national retailer of movies, prerecorded music, video gaming
merchandise and other entertainment–related products. Its mall−based stores include the Sam Goody and Suncoast brands. Musicland
also operates large–format Media Play stores in urban and suburban areas, and Sam Goody Rural (formerly known as On Cue) stores
in small or rural cities. At the end of fiscal 2003, Musicland operated 1,195 stores in 48 states, the District of Columbia, the U.S.
Virgin Islands and Puerto Rico, with 8.3 million retail square feet.
Additional information regarding Discontinued Operations is included in Management’s Discussion and Analysis of Results of
Operations and Financial Condition beginning on page 29 of our Annual Report, incorporated herein by reference. In addition,
selected Musicland financial data is included in note 2 of the Notes to Consolidated Financial Statements beginning on page 52 of our
Annual Report, incorporated herein by reference.
The following is a general overview of Musicland’s four retail store concepts:
Sam Goody Mall – Sam Goody Mall stores average approximately 5,100 retail square feet. At the end of fiscal 2003, there were 505
Sam Goody Mall stores in 46 states, the District of Columbia, the U.S. Virgin Islands and Puerto Rico. The retail square footage of
Sam Goody Mall stores was approximately 2.6 million square feet. Sam Goody Mall stores average approximately $1.1 million in
annual revenue per location. During fiscal 2003, Musicland opened 13 and closed 123 Sam Goody Mall stores.
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