Opened as the Sound of Music in St. Paul, Minnesota, in 1966
IPO (Initial Public Offering of stock) in 1969
1970, $1 million in annual revenue
1981, responding to a tornado hitting one of their stores with a “tornado sale”, the company introduced low prices in a “no frills” retail environment and received $350 in sales per square foot compared to the then current industry average of $150-$200.
1983, the Company was re-named and opened its first superstore
1985, IPO on Nasdaq raises $8 million
1989, the Company unveils a “grab-and-go” format in a non-commissioned, warehouse-style environment
1993, the Company becomes the nations second-largest consumer electronics retailer
1994, The Company's Children’s Foundation is established
1999, The Company and Microsoft partner to cross-promote products
2002, The Company and the Geek Squad join forces
2004, The Company is named Forbes Magazine’s “Company of the Year”
2007, The Company opens it first retail store in Shanghai, China
Today, approximately 180,000 employees apply their talents to help customers through retail locations, multiple call centers and Web sites, in-home solutions, product delivery and activities in our communities. The Company had revenues of $50.3 billion in 2011.
Community partnership is central to the way the Company does business. In fiscal 2011, the company donated approximately $25 million to improve the vitality of the communities where its employees and customers live and work.