Brian Dunn s first-floor, windowless office at Best Buy headquarters in Richfield, Minn., has the feel of a high-tech freshman dorm room. Along with a basketball autographed by Magic Johnson, there s an iPad, three glowing computer screens and a digital photo frame. There are also four smartphones in regular rotation, and Dunn is intent on testing out a few more. I want to play with these devices and learn from them, he says.
As much as he loves fiddling with all the tech gear, what Dunn really wants is to sell more of it to you. He started hawking electronics as a salesman at Best Buy in 1985, when the chain consisted of just a few stores in the Midwest. Dunn, 50, has seen his career grow along with the retail giant, which now has $50 billion in annual sales. He managed stores around the country before settling in the Minneapolis suburbs. One stop he never made was college, but he likes to say he studied at the University of Retail.
He seems to have learned the lessons well. He took over as CEO in June 2009, as the consumer-electronics industry was facing its biggest sales drop in more than three decades. While Dunn says the sales of products like household appliances suffered mightily, growth in other categories, such as digital cameras and laptops, more than offset them. The company also gobbled up market share after longtime rival Circuit City shut down last year. The result: Earnings for Best Buy s fiscal first quarter, ended May 29, increased 1 percent from a year earlier, to $155 million, on a 7 percent increase in sales.
via Interview With Best Buy CEO Brian Dunn – SmartMoney.com.
Want to publish your own articles on DistilINFO Publications?
Send us an email, we will get in touch with you.