Best Buy 2011 Annual Report Download - page 14

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Information on the operation of the Public Reference Room may be obtained by calling the SEC at 1-800-SEC-0330. The
SEC maintains a Web site that contains reports, proxy statements and other information regarding issuers that file
electronically with the SEC. These materials may be obtained electronically by accessing the SEC’s Web site at
www.sec.gov.
We make available, free of charge on our Web site, our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q,
Current Reports on Form 8-K and amendments to these reports filed or furnished pursuant to Section 13(a) or 15(d) of the
Exchange Act, as soon as reasonably practicable after we electronically file these documents with, or furnish them to, the
SEC. These documents are posted on our Web site at www.bby.com — select the ‘‘Investor Relations’’ link and then the
‘‘SEC Filings’’ link.
We also make available, free of charge on our Web site, the Corporate Governance Principles of our Board of Directors
(‘‘Board’’) and our Code of Business Ethics (including any amendment to, or waiver from, a provision of our Code of
Business Ethics) adopted by our Board, as well as the charters of all of our Board’s committees: Audit Committee,
Compensation and Human Resources Committee, Finance and Investment Policy Committee, Global Strategy Committee
and Nominating, Corporate Governance and Public Policy Committee. These documents are posted on our Web site at
www.bby.com — select the ‘‘Investor Relations’’ link and then the ‘‘Corporate Governance’’ link.
Copies of any of the above-referenced documents will also be made available, free of charge, upon written request to:
Best Buy Co., Inc.
Investor Relations Department
7601 Penn Avenue South
Richfield, MN 55423-3645
Item 1A. Risk Factors.
Described below are certain risks that our management believes are applicable to our business and the industry in which
we operate. There may be additional risks that are not presently material or known. You should carefully consider each of
the following risks and all other information set forth in this Annual Report on Form 10-K.
If any of the events described below occurs, our business, financial condition, results of operations, liquidity or access to
the capital markets could be materially adversely affected. The following risks could cause our actual results to differ
materially from our historical experience and from results predicted by forward-looking statements made by us or on our
behalf related to conditions or events that we anticipate may occur in the future. The following risks should not be
construed as an exhaustive list of all factors that could cause actual results to differ materially from those expressed in
forward-looking statements made by us or on our behalf. All forward-looking statements made by us or on our behalf are
qualified by the risks described below.
Economic conditions in the U.S. and key international markets, a decline in consumer discretionary
spending or other conditions may materially adversely impact our operating results.
We sell certain products and services that consumers may view as discretionary items rather than necessities. As a result,
our results of operations tend to be more sensitive to changes in macroeconomic conditions that impact consumer
spending, including discretionary spending. Challenging macroeconomic conditions also impact our customers’ ability to
obtain consumer credit in a timely manner, if at all. Other factors, including consumer confidence, employment levels,
interest rates, tax rates, consumer debt levels, and fuel and energy costs could reduce consumer spending or change
consumer purchasing habits. In the past three fiscal years, many of these factors adversely affected consumer spending
and, consequently, our business and results of operations. A slowdown in the U.S. or global economy, or an uncertain
economic outlook, could materially adversely affect consumer spending habits and our operating results in the future.
The domestic and international political situation also affects consumer confidence. The threat or outbreak of domestic or
international terrorism or other hostilities could lead to a decrease in consumer spending. Any of these events and factors
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