Annual Meeting 2007

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Annual Meeting 2007

  1. 1. Annual Shareholder Meeting June 27, 2007
  2. 2. RICHARD M. SCHULZE Founder and Chairman Director since 1966 2
  3. 3. Agenda • Election of Directors • Ratification of Appointment of Deloitte & Touche LLP • Amend 2004 Omnibus Stock and Incentive Plan • Management Presentation • Q&A Session 3
  4. 4. Directors for Election Elliot S. Kaplan Matthew H. Paull Ronald James Director and Secretary Director since 2003 Director since 2004 since 1971 4
  5. 5. Directors for Election Hatim A. Tyabji Richard M. Schulze Mary A. Tolan James E. Press Director since 1998 Director since 2006 Founder and Chairman Director since 2004 Director since 1966 5
  6. 6. Ratification of Director Rogelio M. Rebolledo Director since 2006 6
  7. 7. Director Voting Results 100% 80% 60% 40% 20% 0% James Paull Schulze Tyabji Tolan Rebolledo Press Kaplan For Withheld 7
  8. 8. Auditor Voting Results 99% 0.20% 0.50% For Against Abstain 8
  9. 9. Omnibus Voting Results 94% 5% 0.70% For Against Abstain 9
  10. 10. Annual Shareholder Meeting June 27, 2007
  11. 11. Brad Anderson Vice Chairman and Chief Executive Officer 11
  12. 12. Safe Harbor Cautionary Statement Pursuant to the Private Securities Litigation Reform Act of 1995 This presentation may contain forward-looking statements, which are subject to risk and uncertainty. A variety of factors could cause our actual results to differ materially from the anticipated results expressed in such forward- looking statements, including, among other things, factors listed in our Annual Report on Form 10-K filed with the SEC on 5/02/07. That 10-K describes additional factors that could cause actual results to differ materially from those contemplated by the forward-looking statements made in this presentation. 12
  13. 13. 13
  14. 14. Darren Jackson Executive Vice President – Finance and Chief Financial Officer 14
  15. 15. History of Growth 15% Revenue Diluted EPS1 21% CAGR ($ in billions) $35.9 CAGR $30.8 $27.4 $24.5 $20.9 $2.79 $2.27 $1.75 $1.44 $1.11 FY03 FY04 FY05 FY06 FY07 FY03 FY04 FY05 FY06 FY07 Pro-forma adjusted for FAS 123 expense 1 ROIC2 FY07 Results +5 pts 22% 21% 20% 19% Total revenue growth 16% 16% Comp revenue growth 5.0% Operating income % +23 bps Diluted EPS growth 23% FY03 FY04 FY05 FY06 FY07 N. American market share 20% 152 FY03-FY05 are not adjusted for FAS 123 expense
  16. 16. Fiscal 2008 Annual Guidance: First Quarter: • Revenue of $7.9 billion • Revenue of $39 billion • Comparable store sales • Comparable store sales gain of 3.0% gain of 3% to 5% • Gross profit rate decline • Nominal improvement in operating income rate • SG&A rate flat • EPS of $2.95 to $3.15 • Repurchase $412 million of common stock • 130 New stores: – 95 United States • Earnings per diluted – 35 International share decreased 17% 16
  17. 17. Investing for the Future Core Business Growth Direct Shareholder Opportunities Returns • Acquisitions to provide new: • New stores • $5.5 billion Stock repurchase plan – Capabilities • Services (Speakeasy) – $3.0 billion accelerated • Pacific Sales – Customers share repurchase • Best Buy Mobile (Pacific Sales) • Best Buy For Business – Markets • 30% dividend increase (Future Shop) – Vendor relationships (Magnolia) –Geographies (Five Star) Investing in growth and ROIC 17
  18. 18. Brian Dunn President and Chief Operating Officer 18
  19. 19. Technology is Not Just a Lifestyle… It is the infrastructure of life. Home Theater Systems DVR Gaming System Desktop Notebook Digital Camera iPhone Networking Satellite Radio Phone 19
  20. 20. Customer Centricity: Our Growth Lens Ne ss w ne C i us us B t om re Co er s & Fo rm Customer at s Experience New Markets 20
  21. 21. Future Growth 1,800 N. American New Store Runway 1,400 1,035 Today Goal New Goal U.S. Best Buy Pacific Sales Canada: Future Shop/Best Buy 21
  22. 22. 22
  23. 23. Your Questions 23

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