Best Buy Co., Inc. (BBY) is a multinational retailer specializing in consumer electronics that runs over 1,000 superstores in the United States, Canada, and Mexico and generates over $42.9 billion in yearly sales.

On its way to becoming the largest click-and-mortar electronics store in the United States, the firm purchased many competitors. The incorporation of acquisitions into the company's business plan was a deliberate move to enter new, complementary markets. Here are the top three firms owned by Best Buy.

Geek Squad

Best Buy's customers may count on the Geek Squad for assistance after their purchases. Robert Stephens founded the Geek Squad in 1994. The company provided on-site computer maintenance for both homes and businesses. Employees were given the agent title as part of the company's effort to emulate government intelligence agencies like the Federal Bureau of Investigation.

On October 24, 2002, Best Buy purchased Geek Squad and appointed Robert Stephens to continue running the business as a subsidiary. The organization offers on-site, in-site, and Internet-based technical support, installation, and repair services around the clock.

The company's offerings are no longer limited to only computer-related ones; they have grown to include assistance with the setup and maintenance of various other electronic devices, such as appliances, telephones, cameras, home theatres, wearables, and video games.

Magnolia Hi-Fi, Inc.

On December 18, 2000, Best Buy paid $87,000,000 to acquire Magnolia Hi-Fi, Inc., and also took on $598,000,000 in debt. The Seattle-based audio and video retailer Magnolia Hi-Fi had 13 stores and over $100 million yearly sales in 1999.

Originally, Best Buy intended for the Magnolia locations to be a separate high-end luxury brand. The establishments had a dedicated following of eccentric clientele who often spent up to $5,000 on a MartinLogan speaker or up to $9,000 on McIntosh amplifiers. However, the stores were ultimately shuttered, and their products were incorporated into Best Buy displays in the stores' stead.

Pacific Sales Kitchen and Bath Centers

As of January 2006, Best Buy has paid $410 million to acquire Pacific Sales Kitchen and Bath Centers Inc. Included in the deal were 14 retail locations in sunny California. Like Magnolia Hi-Fi, this label aims at affluent clients who don't mind spending much on individualized attention and high-end labels.

Best Buy continued separating the subsidiary as a high-end brand with its stand-alone showrooms while merging the in-store structure for the East Coast sites. Pacific Sales is a California-based company with 21 sites selling high-end appliances to homeowners, builders, and contractors. Over 200 retail outlets carry the Pacific Kitchen and Home Inside labels.

What is Best Buy's Market Cap?

I have another question: is best buy the biggest store in the United States? An Industry Expert Agrees. With $47 billion in 2020 sales, with around 10% share of the aggregate market and over 40% share of offline sales, based on our projections, CTA industry, and Euromonitor data.

And similarly, what percentage of the market does Best Buy occupy? With $47 billion in 2020 sales, with around 10% share of the aggregate market and over 40% share of offline sales, based on our projections, CTA industry, and Euromonitor data.

Vertical Integration of Businesses

Vertical integration of product lines and support led Best Buy to decide to absorb Magnolia and incorporate its products and services directly into Best Buy stores. Geek Squad now offers support, repair, and installation for Pacific Kitchen and Home Inside in Best Buy stores. These purchases broaden the company's appeal, allowing it to sell anything from entry-level HDTVs to high-end, custom-designed home theatres.

Installation, repair, product protection, and support services for home theatre and automotive products are now all part of the Geek Squad's repertoire at Best Buy. Because of this concept, Best Buy can diversify its revenue streams beyond just product sales.

Long-Term Support for BBY Appears to Have Held

In June, we noticed the formation of a sophisticated bear trap. Two weeks ago, the bear trap was revalidated after being temporarily invalidated by another sell-off. A re-entry signal describes this type of revalidation. Re-entry signals, like June's bear trap, are often very dependable and powerful price structures that further confirm the original signal.

Before doing a U-turn and going back up, the market had taken advantage of the sell-off to ensnare pessimistic investors and traders and force them to concede that they had been wrong.