Best Buy 2012 Annual Report Download - page 41

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41
The components of our Domestic segment's 0.2% revenue decrease in fiscal 2011 were as follows:
Comparable store sales impact (2.9)%
Net new stores 2.7 %
Total revenue decrease (0.2)%
The impact of net new stores on our revenue is a result of net store changes during the past 12 months, as well as stores opened
in the prior fiscal year that are not included in comparable store sales due to the timing of their opening. The net addition of
large-format Best Buy branded stores, including 30 stores in fiscal 2011, contributed the majority of the total change in revenue
associated with net new stores. The addition of small-format Best Buy Mobile stand-alone stores, including 103 in fiscal 2011,
contributed a smaller portion of the revenue increase due to their smaller square footage and limited category focus compared
to our large-format stores.
The following table presents the Domestic segment's revenue mix percentages and comparable store sales percentage changes
by revenue category in fiscal 2011 and 2010:
Revenue Mix Summary Comparable Store Sales Summary
Year Ended Year Ended
February 26, 2011 February 27, 2010 February 26, 2011 February 27, 2010
Consumer Electronics 37% 39% (6.3)% 1.1 %
Computing and Mobile Phones(1) 37% 34% 3.6 % 12.8 %
Entertainment 14% 16% (13.3)% (13.2)%
Appliances 5% 4% 7.0 % (4.2)%
Services 6% 6% 0.5 % (1.0)%
Other 1% 1% n/a n/a
Total 100% 100% (3.0)% 1.7 %
(1) During the first quarter of fiscal 2012, the revenue category previously referred to as "Home Office" was renamed "Computing and Mobile Phones" to
more clearly reflect the key products included within the revenue category. However, the composition of the products within this revenue category has not
changed from the previous periods' disclosures.
The products having the largest impact on our comparable store sales decline in fiscal 2011 were entertainment hardware and
software (which includes video gaming hardware and software, CDs and DVDs) and televisions. Comparable store sales gains
in mobile phones, mobile computing (consisting of notebook computers, netbooks and tablets) partially offset these declines.
Revenue from our Domestic segment's online operations increased 13% in fiscal 2011 and is incorporated in the table above.
The following is a description of the notable comparable store sales changes in our Domestic segment by revenue category:
• Consumer Electronics: The 6.3% comparable store sales decline was driven primarily by a decrease in the sales of
televisions and cameras and camcorders, partially offset by strong sales from our expanded assortment of e-Readers.
• Computing and Mobile Phones: The 3.6% comparable store sales gain was primarily the result of increased sales of
mobile phones due to the continued growth of Best Buy Mobile, as well as gains in the sales of mobile computing.
• Entertainment: The 13.3% comparable store sales decline was mainly the result of declining sales in video gaming
hardware and software, partially caused by industry-wide softness combined with a decline in our market share, as
well as the continued decline in the sales of DVDs and CDs as consumers shift to digital content.
• Appliances: The 7.0% comparable store sales gain was due to an increase in unit sales with relatively flat average
selling prices, with particular strength in kitchen and small appliances.
• Services: The 0.5% comparable store sales gain was due primarily to a gain in the sales of computer services, partially
offset by a decline in the sales of repair and home theater installation services, due in part to the decrease in television
sales noted above.