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Best Buy Co., Inc. (NYSE: BBY) is a specialty retailer of consumer electronics in the United States accounting for 19% of the market. It also operates in Canada, Mexico, and China. The company's subsidiaries include Geek Squad, Magnolia Audio Video, Pacific Sales, and, in Canada operates under both the Best Buy and Future Shop label. Together these operate more than 1,150 stores in the United States, Puerto Rico, Canada, China, Mexico and Turkey. The company's corporate headquarters are located in Richfield, Minnesota, USA. On June 26, 2007, Best Buy announced a 40% increase in its operations, with plans to operate more than 1,800 stores worldwide, including 1,400 Best Buy stores in the U.S.
With the recent 50% acquisition of UK-based mobile phone operation The Carphone Warehouse's retail division, Best Buy announced that it would open branded superstores in the UK and other European countries. Best Buy will first open stores in the UK, with plans for up to 200 stores eventually, although the initiative has been delayed until Spring 2010 by the state of the retail market. It is also considering purchasing UK rivals Kesa Electricals (owner of Comet), DSG International (owner of Currys), or both. It is unknown whether these stores will rebrand if acquired by Best Buy. The first two Best Buy stores in the UK will open at The Junction retail park near Lakeside Shopping Centre in Thurrock Essex, and near Southampton at Prupim’s Hedge End Retail Park. A 10 year lease has been signed for the Lakeside store with 50,000 square foot of retail space, while the Southampton store will cover 35,000 square foot. In total 20 locations are planned for 2009 which will all be big box format, however the company is looking for a flagship store in Central London in a prominent area such as Piccadilly Circus, Oxford Street or Regent Street.
The Gap, Inc. (NYSE: GPS) is an American clothing and accessories retailer based in San Francisco, California, and founded in 1969 by Donald G. Fisher and Doris F. Fisher. The company has five primary brands: the namesake Gap banner, Banana Republic, Old Navy, Piperlime and Athleta. As of September 2008, Gap, Inc. has approximately 150,000 employees and operates 3,465 stores worldwide. Gap, Inc. remains the largest specialty apparel retailer in the U.S., though it has recently been surpassed by the Spanish-based Inditex Group as the world's largest apparel retailer.
Despite its publicly-traded status, the Fisher family remains deeply involved in Gap, Inc.'s business and collectively owns a significant portion of the company's stock.
Donald Fisher served as Chairman of the Board until 2004 and remained on the board until his death on September 27, 2009. His wife and their son, Robert J. Fisher, also serve on Gap's Board of directors. Robert Fisher succeeded his father as chair in 2004 and also took over as president and CEO on an interim basis following the resignation of Paul Pressler in 2007.
Glenn K. Murphy is the current CEO of the company. Previous Gap, Inc. CEOs include Millard Drexler and Paul Pressler.
