Best Buy Reports Record Third Quarter Sales Digital Products Continue to Drive Sales Gains

MINNEAPOLIS, Dec. 2 -- Best Buy Co., Inc. (NYSE: BBY - news) today reported record sales for the Company's fiscal 2000 third quarter, ended November 27, 1999. According to Allen Lenzmeier, chief financial officer, sales for the third fiscal quarter were a record .110 billion, a 25% increase compared to the .494 billion reported in the third quarter last year.

"Comparable store sales growth for the quarter was driven by digital products, including satellite systems, DVD hardware, cellular phones, cameras and camcorders. In addition, increased sales of entertainment software including video games, music and DVD movies contributed to our strong sales gains," Lenzmeier said. "We are well positioned for the holidays. Our optimism for this important retail selling season was reinforced by consumer response to our Thanksgiving weekend offers."