Best Buy 2003 Annual Report Download - page 10
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The following table presents U.S. Best Buy stores’ revenue, by product category, as a percentage of total U.S. Best Buy stores’
revenue:
Product Category
Percentage of
Total Revenue
Fiscal 2003
Percentage of
Total Revenue
Fiscal 2002
Percentage of
Total Revenue
Fiscal 2001
Consumer Electronics 34% 33% 33%
Home Office 30% 31% 34%
Entertainment Software 22% 22% 19%
Appliances 6% 6% 7%
Other 8% 8% 7%
Total 100% 100% 100%
Operations
U.S. Best Buy stores follow a standardized and detailed operating procedure called Standard Operating Platform (SOP). The SOP
includes procedures for inventory management, transaction processing, customer relations, store administration, product sales and
merchandise display.
U.S. Best Buy store operations are organized into three divisions. Each division is divided into regions and is under the supervision of
a senior vice president who oversees store performance through regional vice presidents. Regional vice presidents have responsibility
for a number of districts within their respective region. District managers monitor store operations and meet regularly with store
managers to discuss merchandising, new product introductions, sales promotions, customer loyalty programs, employee satisfaction
surveys and store operating performance. Similar meetings are conducted at the corporate level with divisional and regional
management. A senior vice president of retail operations has overall responsibility for retail store processing and operations, including
labor management. Each district also has a loss prevention manager, with product security personnel employed at each store to control
physical inventory losses. Advertising, merchandise buying and pricing, and inventory policies for U.S. Best Buy stores are centrally
controlled.
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