Best Buy 2011 Annual Report Download - page 21
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A disruption in relationships with key third-party business partners could materially adversely affect our
business and results of operations.
We have engaged Accenture LLP (‘‘Accenture’’), a global management consulting, technology services and outsourcing
company, to manage significant portions of our information technology and human resources operations as well as to
conduct certain procurement activities. We rely heavily on our management information systems for inventory
management, distribution and other functions. We also rely heavily on human resources support to attract, develop and
retain a sufficient number of qualified employees. We also use Accenture to provide procurement support to research and
purchase certain non-merchandise products and services. Furthermore, we have engaged other key third-party business
partners to manage various functions of our business, including but not limited to, customer loyalty programs, promotional
financing and customer loyalty credit cards, customer warranty and insurance programs, and other outsourced functions.
Any material disruption in our relationship with Accenture or other key third-party business partners could result in
decreased revenue and increased overhead costs, causing our business and results of operations to suffer materially.
We are highly dependent on the cash flows and net earnings we generate during our fourth fiscal quarter,
which includes the majority of the holiday selling season.
Approximately one-third of our revenue and more than one-half of our net earnings are generated in our fourth fiscal
quarter, which includes the majority of the holiday shopping season in the U.S., Europe and Canada. Unexpected events
or developments such as natural or man-made disasters, product sourcing issues or adverse economic conditions in our
fourth fiscal quarter could have a material adverse effect on our results of operations.
Item 1B. Unresolved Staff Comments.
Not applicable.
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