We will double our sales over the next five years. That was the message Best Buy's president and chief operating officer Brian Dunn left the assembled crowd at the company's annual shareholder meeting on Wednesday.The retailer, which currently has total group sales of $40 billion (£), is confident that the figure is achievable despite declining economic conditions with Dunn telling the audience that the goal was both "ambitious and doable".
Showing that the company has achieved the goal previously, he revealed that the firm had grown its sales from $20 billion in 2003 to $40 billion in 2008.
Central to this goal is the retailer's expansion into Europe, with international chief executive officer telling shareholders that that the move would not only provide the extra revenues needed to achieve the figure, but that it would also help towards the retailer's objective of "owning the home."
Best Buy currently controls around 20 per cent of the consumer electronics market in the US, and around 30 per cent of all computer sales.
Source: StarTribune
Advertisement
Related Stories
- Daily deals websites get the Apprentice treatment May 23rd 2012 at 9:58PM
- Eugene Polley, inventor of the remote control, dies at 96 May 22nd 2012 at 10:10PM
- iPad boosts April online sales to strongest in 18 months May 22nd 2012 at 10:53AM
- Gem lands Krator distribution May 22nd 2012 at 9:36AM
- Considering a new career? May 18th 2012 at 1:36PM
- iPhone 5 'bigger screen' rumours gather pace May 17th 2012 at 2:13PM
- Dixons reports growth in UK sales in latest statement May 10th 2012 at 9:14PM
- TP-Link partners with Asda May 9th 2012 at 2:46PM
- Are you selling the Connected Home? May 2nd 2012 at 12:53PM
