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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) May 11, 1998
BEST BUY CO., INC.
(Exact name of registrant as specified in its charter)
MINNESOTA
(State or other jurisdiction of incorporation)
1-9595 41-0907483
(Commission File Number) (IRS Employer Identification Number)
7075 Flying Cloud Drive 55344
Eden Prairie, Minnesota (Zip Code)
(Address of principal executive offices)
Registrant's telephone number, including area code: 612/947-2000
Not applicable
(Former name or former address, if changed since last report)
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ITEM 5. OTHER EVENTS.
In connection with the "safe harbor" provisions of the Private Securities
Litigation Reform Act of 1995, Best Buy Co., Inc. (the "Company") is hereby
filing amended and restated cautionary statements which identify important
factors that could cause the Company's actual results to differ materially from
those projected in forward-looking statements of the Company made by or on
behalf of the Company.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits
The following is filed as an Exhibit to this Report.
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Exhibit No. Description of Exhibit
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99 Cautionary statement for purposes of the "Safe Harbor"
provisions of the Private Securities Litigation Reform Act
of 1995.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
BEST BUY CO., INC.
(Registrant)
Date: May 11, 1998 By: /s/ Allen U. Lenzmeier
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Name: Allen U. Lenzmeier
Title: Executive Vice President &
Chief Financial Officer
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EXHIBIT 99
The provisions of the Private Securities Litigation Reform Act of 1995 (the
"Act"), provides a "safe harbor" for forward-looking statements to encourage
companies to provide prospective information about their companies without fear
of litigation, so long as those statements are identified as forward-looking and
are accompanied by meaningful cautionary language identifying the important
factors that could cause actual results to differ materially from those
projected in the statement. Best Buy Co., Inc. (the "Company") has previously
filed a Current Report on Form 8-K to take advantage of the "safe harbor"
provisions of the Act and is amending and restating the factors set forth
therein. Factors which could cause the Company's actual financial results to
differ materially from any such projections, forecasts or estimates made by or
on behalf of the Company in forward-looking statements include, but are not
limited to, the following:
a) Changes in levels of competition from current competitors and potential new
competition from both retail stores and alternative methods or channels of
distribution such as electronic and telephone shopping services, mail
order, or the use of technology to provide those products and services
currently sold by the Company;
b) loss of a significant vendor or prolonged disruption of product supply;
c) the presence or absence of new products in the Company's product
categories, including the level of consumer acceptance of new technology
and its impact on demand for existing technology products;
d) the impact of changes in technology on the pricing and profit margins
associated with products in the Company product categories;
e) changes in the Federal income tax rules and regulations or interpretations
of existing legislation;
f) changes in the general economic conditions in the United States including,
but not limited to, the levels and availability of consumer debt, the
levels of interest rates, and consumer sentiment about the economy in
general;
g) changes in consumer sentiment or attitudes regarding the purchase of
extended service contracts;
h) changes in availability and cost of working capital financing from vendors
and lending institutions, including the availability and cost of long-term
financing to support self developed and third party developed retail store
and distribution facilities;
i) adverse results in significant litigation matters;
j) the imposition of additional restrictions or regulations regarding the sale
of products or services the Company sells;
k) changes in the cost or availability of labor sufficient to support the
Company's operations;
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l) the ability of the Company and its business partners to adequately and
timely address issues associated with the Year 2000 and its impact on data
processing systems.
The foregoing should not be construed as an exhaustive list of all factors which
could cause actual results to differ materially from those expressed in forward-
looking statements made by the Company.
