Best Buy 2011 Annual Report Download - page 25
Download and view the complete annual report
Please find page 25 of the 2011 Best Buy annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.The following table summarizes the ownership status and total square footage of our International segment store locations
at the end of fiscal 2011:
Europe Canada China Mexico Turkey
The
Carphone The Phone Future Best Buy
Best Buy Warehouse House Shop Best Buy Mobile Best Buy Five Star Best Buy Best Buy
Stores Stores Stores Stores Stores Stores Stores(1) Stores Stores Stores(1)
Owned store locations — — 2 — 3 — 1 6 — —
Leased store locations 6 885 1,553 146 68 10 7 160 6 2
Square footage (in thousands) 196 695 810 3,864 2,250 13 279 5,931 327 80
(1) On February 21, 2011, we announced plans to exit the Turkey market and restructure the Best Buy branded stores in China during
fiscal 2012.
The following table summarizes the location, ownership status and total square footage of space utilized for distribution
centers and corporate offices by our International segment at the end of fiscal 2011:
Square Footage Square Footage
(in thousands) (in thousands)
Distribution Centers Leased Owned Principal Corporate Offices Leased Owned
Europe Throughout seven European countries 232 — Acton, West London and throughout Europe 773 —
Canada Brampton and Bolton, Ontario 1,763 — Burnaby, British Columbia 141 —
Vancouver, British Columbia 639 — — — —
Five Star Jiangsu Province, China 1,320 — Corporate headquarters, Jiangsu Province, 26 46
China
Throughout the Five Star retail chain 527 — District offices throughout the Five Star 181 5
retail chain
Best Buy China Shanghai, China 129 — Shanghai, China 81 —
Mexico Estado de Mexico, Mexico 45 — Distrito Federal, Mexico 21 —
Turkey Gebze-Kocaeli, Turkey 11 — Istanbul, Turkey 23 —
Exclusive Brands
We lease approximately 32,000 square feet of office space in China to support our exclusive brands operations.
Operating Leases
Almost all of our stores and a majority of our distribution facilities are leased. Terms of the lease agreements generally
range from 10 to 20 years. Most of the leases contain renewal options and rent escalation clauses.
Additional information regarding our operating leases is available in Note 9, Leases, of the Notes to Consolidated
Financial Statements, included in Item 8, Financial Statements and Supplementary Data, of this Annual Report on
Form 10-K.
Item 3. Legal Proceedings.
In December 2005, a purported class action lawsuit captioned, Jasmen Holloway, et al. v. Best Buy Co., Inc., was filed
against us in the U.S. District Court for the Northern District of California. This federal court action alleges that we
discriminate against women and minority individuals on the basis of gender, race, color and/or national origin in our
stores with respect to our employment policies and practices. The action seeks an end to alleged discriminatory policies
and practices, an award of back and front pay, punitive damages and injunctive relief, including rightful place relief for all
class members. The plaintiffs have filed a class certification motion which we have opposed. All proceedings have been
stayed pending a decision by the U.S. Supreme Court in Dukes, et al. v. Wal-Mart Stores, Inc., a gender discrimination
class action lawsuit.
25