BBY -Best Buy Message Board

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Non-Tech : BBY -Best Buy

BBY 72.58

-2.1%

Dec 8 3:59 PM EST

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To: Ron Kline who wrote (582)	10/16/1998 5:38:00 PM
From: Rainy_Day_Woman	of 980

Ron: you bought at a good time...... MINNEAPOLIS, Oct 12 (Reuters) - Consumer electronics retailer Best Buy Co. Inc. said Monday its board of directors has authorized the repurchase of up to $100 million worth of the company's 100.5 million shares of common stock. Best Buy said it may buy back the shares from time to time through open market purchases over the next 12 months. ''We believe that current market conditions have made our stock an exceptional value and investment opportunity,'' said chairman and chief executive officer Richard Schulze. He said Best Buy recently retired substantially all of its debt financing and the company is confident that its financial position and liquidity allows it to repurchase shares and continue its previously announced expansion plans for 40 new stores next year.

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