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Again, I am Greg Melich. I head up our retail team. Again, I appreciate everyone coming out today. It is a great attendance for the conference and certainly one of our biggest draws this morning from a retail perspective is having Best Buy with us. We really want to thank them for doing this. It's a time of the year we know is very busy. We know they are extremely focused on getting ready for the holiday season and that is why it is a special treat to have the management with us today. So with us, we have Brian Dunn, the Chief Executive Officer of Best Buy, newly into that role this year, certainly with many more years with the Company than that. We also have Jim Muehlbauer who is the Chief Financial Officer and Andrew Lacko who is Director of Investor Relations. With that, and...

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All rights reserved. All the news releases provided by Market Wire are copyrighted. 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For those of you that don't know me, I am Scot Cicarelli, senior analyst here with RBC Capital Markets. And following the hardlines retail sector, I know most of the faces in here. This morning we are very happy to present a couple members of Best Buy's senior management team. We have Ryan Robinson who is the Domestic CFO, and then we have Wade Bronson who is Director of Investor Relations. We are actually longtime advocates of Best Buy. It's been a controversial stock for a lot of people. But I think they're a very important barometer and indicator of what's going on with the health of the overall US consumer. And there are obviously a lot of dynamics within the consumer electronic industry. What I'd like to see happen is I'm probably going to start off with a question or two, and then hopefully it takes on an interactive format. We have about an hour and so I think just raise your hand, ask a question, and hopefully...

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Q2 2010 Earnings Conference Call Transcript</ccbn:storetitle><ccbn:ticker xmlns:ccbn="http://www.alacra.com/ccbn">BBY</ccbn:ticker><ccbn:time xmlns:ccbn="http://www.alacra.com/ccbn">9:00am CT</ccbn:time><title>Best Buy Co., Inc. Q2 2010 Earnings Conference Call Transcript</title><ccbn:type xmlns:ccbn="http://www.alacra.com/ccbn">Transcript</ccbn:type><description>...Mike Baker Deutsche Bank - Analyst Michael Lasser Barclays Capital - Analyst David Strasser Janney Montgomery Scott LLC - Analyst Mitch Kaiser Piper Jaffray &amp; Co. - Analyst Daniel Binder Jefferies &amp; Company - Analyst Alan Rifkin BAS-ML - Analyst Dan Wewer Raymond James &amp; Associates - Analyst Kate McShane Citi Investment Research - Analyst Gregory Melich Morgan Stanley - Analyst Matt Fassler Goldman Sachs - Analyst Joe Feldman Kelsey Advisory Group - Analyst P R E S E N T A T I O N...

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Subscribers...</description><newstex:index_entry_company xmlns:newstex="http://www.alacra.com/newstex">BEST BUY CO INC</newstex:index_entry_company><newstex:index_entry_ticker xmlns:newstex="http://www.alacra.com/newstex">BBY</newstex:index_entry_ticker><category>News</category><alacra:ip>Newstex</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/ccbn/T2321167</link><ccbn:docid xmlns:ccbn="http://www.alacra.com/ccbn">T2321167</ccbn:docid><guid isPermaLink="false">ccbn/T2321167</guid><ccbn:index_mode xmlns:ccbn="http://www.alacra.com/ccbn">norm</ccbn:index_mode><pubDate>15 Jul 2009 03:05:00 EST</pubDate><ccbn:eventid xmlns:ccbn="http://www.alacra.com/ccbn">2321167</ccbn:eventid><ccbn:headline xmlns:ccbn="http://www.alacra.com/ccbn">Final Transcript of BBY presentation, 15-Jul-09 11:50am ET</ccbn:headline><ccbn:name xmlns:ccbn="http://www.alacra.com/ccbn">Best Buy Co., Inc.</ccbn:name><ccbn:price xmlns:ccbn="http://www.alacra.com/ccbn">54.0000</ccbn:price><ccbn:revision xmlns:ccbn="http://www.alacra.com/ccbn">Final</ccbn:revision><ccbn:storetitle xmlns:ccbn="http://www.alacra.com/ccbn">Best Buy Co., Inc. at Oppenheimer &amp; Co. Consumer, Gaming, Lodging &amp; Leisure Conference Transcript</ccbn:storetitle><ccbn:ticker xmlns:ccbn="http://www.alacra.com/ccbn">BBY</ccbn:ticker><ccbn:time xmlns:ccbn="http://www.alacra.com/ccbn">11:50am ET</ccbn:time><title>Best Buy Co., Inc. at Oppenheimer &amp; Co. Consumer, Gaming, Lodging &amp; Leisure Conference Transcript</title><ccbn:type xmlns:ccbn="http://www.alacra.com/ccbn">Transcript</ccbn:type><description>...Unidentified Participant (Audio in progress) I am the hardlines analyst at Oppenheimer. It gives me great pleasure to introduce our next meeting which is with Best Buy. Two of the Company's senior executives, Shari Ballard, Executive Vice President of Retail Channel Management, and Mike Vitelli, Executive Vice President of Customer Operating Groups. Now just a brief note, we are going to keep the breakout for this meeting in this room after, so after the presentation from management we will start the Q&amp;A right away. I will turn it over to Mike. Thank you. Mike Vitelli - Best Buy Co., Inc. - EVP, Customer Operating Groups Thank you and good morning, everybody. We are going to just take a few minutes to, Shari and I, tell you about Best Buy and where we have come from and where we are headed to. This is a very long, lengthy statement that says pretty much everything we say from this point forward is our opinion and you shouldn't pay too much attention to it. This is compelling evidence that...

</description><category>Credit &amp; Investment Research</category><alacra:ip>Thomson StreetEvents</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/moodys/COP_104225</link><moodys:docid xmlns:moodys="http://www.alacra.com/moodys">COP_104225</moodys:docid><guid isPermaLink="false">moodys/COP_104225</guid><moodys:index_mode xmlns:moodys="http://www.alacra.com/moodys">html</moodys:index_mode><pubDate>27 Jun 2009 12:26:33 EST</pubDate><moodys:format xmlns:moodys="http://www.alacra.com/moodys">html</moodys:format><moodys:issuer xmlns:moodys="http://www.alacra.com/moodys">Best Buy Co., Inc.</moodys:issuer><moodys:issuer_list xmlns:moodys="http://www.alacra.com/moodys">Best Buy Co., Inc.</moodys:issuer_list><moodys:org_id xmlns:moodys="http://www.alacra.com/moodys">104225</moodys:org_id><moodys:price xmlns:moodys="http://www.alacra.com/moodys">150.0000</moodys:price><moodys:printdate xmlns:moodys="http://www.alacra.com/moodys">26 Jun 2009</moodys:printdate><moodys:report_class xmlns:moodys="http://www.alacra.com/moodys">News</moodys:report_class><moodys:report_type xmlns:moodys="http://www.alacra.com/moodys">Credit Opinion</moodys:report_type><moodys:sector xmlns:moodys="http://www.alacra.com/moodys">C</moodys:sector><title>Best Buy Co., Inc.</title><description>Global Credit Research Credit Opinion ## JUN ####   Credit Opinion: Best Buy Co., Inc. Best Buy Co., Inc. Minneapolis, Minnesota, United States Ratings Category Moody's Rating Outlook Stable Issuer Rating Baa# Senior Unsecured Baa# Subordinate...</description><category>Credit &amp; Investment Research</category><alacra:ip>Moody's Global Credit Research</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/ccbn/T2127161</link><ccbn:docid xmlns:ccbn="http://www.alacra.com/ccbn">T2127161</ccbn:docid><guid isPermaLink="false">ccbn/T2127161</guid><ccbn:index_mode xmlns:ccbn="http://www.alacra.com/ccbn">norm</ccbn:index_mode><pubDate>25 Jun 2009 12:06:00 EST</pubDate><ccbn:eventid xmlns:ccbn="http://www.alacra.com/ccbn">2127161</ccbn:eventid><ccbn:headline xmlns:ccbn="http://www.alacra.com/ccbn">Final Transcript of BBY shareholder or annual meeting, 24-Jun-09 9:30am CT</ccbn:headline><ccbn:name xmlns:ccbn="http://www.alacra.com/ccbn">Best Buy Co., Inc.</ccbn:name><ccbn:price xmlns:ccbn="http://www.alacra.com/ccbn">54.0000</ccbn:price><ccbn:revision xmlns:ccbn="http://www.alacra.com/ccbn">Final</ccbn:revision><ccbn:storetitle xmlns:ccbn="http://www.alacra.com/ccbn">Best Buy Co., Inc. Shareholders Meeting Transcript</ccbn:storetitle><ccbn:ticker xmlns:ccbn="http://www.alacra.com/ccbn">BBY</ccbn:ticker><ccbn:time xmlns:ccbn="http://www.alacra.com/ccbn">9:30am CT</ccbn:time><title>Best Buy Co., Inc. Shareholders Meeting Transcript</title><ccbn:type xmlns:ccbn="http://www.alacra.com/ccbn">Transcript</ccbn:type><description>...Mark Bradley - Shareholder Marty Kirsch - Shareholder Chris Janzen - Shareholder Carl Krupstad - Shareholder P R E S E N T A T I O N...

</description><category>Credit &amp; Investment Research</category><alacra:ip>Thomson StreetEvents</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/ccbn/T2272141</link><ccbn:docid xmlns:ccbn="http://www.alacra.com/ccbn">T2272141</ccbn:docid><guid isPermaLink="false">ccbn/T2272141</guid><ccbn:index_mode xmlns:ccbn="http://www.alacra.com/ccbn">norm</ccbn:index_mode><pubDate>16 Jun 2009 01:05:00 EST</pubDate><ccbn:eventid xmlns:ccbn="http://www.alacra.com/ccbn">2272141</ccbn:eventid><ccbn:headline xmlns:ccbn="http://www.alacra.com/ccbn">Final Transcript of BBY earnings conference call or presentation, 16-Jun-09 9:00am CT</ccbn:headline><ccbn:name xmlns:ccbn="http://www.alacra.com/ccbn">Best Buy Co., Inc.</ccbn:name><ccbn:price xmlns:ccbn="http://www.alacra.com/ccbn">54.0000</ccbn:price><ccbn:revision xmlns:ccbn="http://www.alacra.com/ccbn">Final</ccbn:revision><ccbn:storetitle xmlns:ccbn="http://www.alacra.com/ccbn">Best Buy Co., Inc. Q1 2010 Earnings Conference Call Transcript</ccbn:storetitle><ccbn:ticker xmlns:ccbn="http://www.alacra.com/ccbn">BBY</ccbn:ticker><ccbn:time xmlns:ccbn="http://www.alacra.com/ccbn">9:00am CT</ccbn:time><title>Best Buy Co., Inc. Q1 2010 Earnings Conference Call Transcript</title><ccbn:type xmlns:ccbn="http://www.alacra.com/ccbn">Transcript</ccbn:type><description>...Gary Balter Credit Suisse - Analyst Greg Liu Merrill Lynch - Analyst Matthew Fassler Goldman Sachs - Analyst Colin McGranahan Sanford C. Bernstein &amp; Co. - Analyst Jack Murphy William Blair &amp; Company - Analyst Scott Ciccarelli RBC Capital Markets - Analyst Chris Horvers JPMorgan - Analyst P R E S E N T A T I O N...

</description><category>Credit &amp; Investment Research</category><alacra:ip>Thomson StreetEvents</alacra:ip></item><item><link>http://www.alacrastore.com/storecontent/ccbn/B2272141</link><ccbn:docid xmlns:ccbn="http://www.alacra.com/ccbn">B2272141</ccbn:docid><guid isPermaLink="false">ccbn/B2272141</guid><ccbn:index_mode xmlns:ccbn="http://www.alacra.com/ccbn">norm</ccbn:index_mode><pubDate>16 Jun 2009 11:07:00 EST</pubDate><ccbn:eventid xmlns:ccbn="http://www.alacra.com/ccbn">2272141</ccbn:eventid><ccbn:headline xmlns:ccbn="http://www.alacra.com/ccbn">Edited Brief of BBY earnings conference call or presentation, 16-Jun-09 9:00am CT</ccbn:headline><ccbn:name xmlns:ccbn="http://www.alacra.com/ccbn">Best Buy Co., Inc.</ccbn:name><ccbn:price xmlns:ccbn="http://www.alacra.com/ccbn">54.0000</ccbn:price><ccbn:revision xmlns:ccbn="http://www.alacra.com/ccbn">Edited</ccbn:revision><ccbn:storetitle xmlns:ccbn="http://www.alacra.com/ccbn">Best Buy Co., Inc. Q1 2010 Earnings Conference Call Summary</ccbn:storetitle><ccbn:ticker xmlns:ccbn="http://www.alacra.com/ccbn">BBY</ccbn:ticker><ccbn:time xmlns:ccbn="http://www.alacra.com/ccbn">9:00am CT</ccbn:time><title>Best Buy Co., Inc. Q1 2010 Earnings Conference Call Summary</title><ccbn:type xmlns:ccbn="http://www.alacra.com/ccbn">Brief</ccbn:type><description>...Gary Balter Credit Suisse - Analyst Greg Liu Merrill Lynch - Analyst Matthew Fassler Goldman Sachs - Analyst Colin McGranahan Sanford C. Bernstein &amp; Co. - Analyst Jack Murphy William Blair &amp; Company - Analyst Scott Ciccarelli RBC Capital Markets - Analyst Chris Horvers JPMorgan - Analyst OVERVIEW...

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