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Best Buy To Take Customer Centric Model Across The Chain

5/19/2006 10:47:00 AM Eastern

Minneapolis — Best Buy plans to have all of its stores operating within its customer centricity model by next March.

The operating model tailors stores, assortments and services to specific consumer segments, and moves more decision making to the store level.

Best Buy opened or converted 233 stores to the customer centric platform during fiscal year 2006, which ended in February, bringing the total number of segmented stores to 300, or 40 percent of all Best Buy locations in the United States.

According to the company’s latest 10-K filing, Best Buy will complete the process by transitioning all remaining U.S. stores to customer centricity during its current fiscal year. The nation’s No. 1 CE chain will spend about $450 million on the conversions, along with other remodeling projects and about 80 new store openings.

Customer centricity conversions typically include new fixtures, expanded product assortments and changes in the staffing model, the company said.

Best Buy also plans to add Magnolia Home Theater shops to about 200 stores, and will expand its assortment of digital TVs. In addition, the company will add elements of its Best Buy for Business initiative to at least 120 additional stores.

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