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Best Buy and Five Star donate RMB 7 million Yuan to earthquake-stricken areas
The total value of contributions and donated materials will exceed RMB 10 million Yuan(May 18th, 2008, Shanghai?Today Best Buy – a world leading consumer electronics retailer donates RMB 7 million Yuan through Best Buy (Shanghai) Ltd. and its holding company Five Star Appliances, in the hope of making contributions to helping victims of 5.12 Sichuan Earthquake.
Prior to this, Best Buy and Five Star Appliances have already appealed in-house to encourage employees to donate, raising about RMB 2 million Yuan altogether. Meanwhile, Best Buy donated 80 thousand-valued walkie talkies which are especially useful to search and rescue work in the disaster areas. Five Star Appliances also donated 100 thousand-valued tents and other materials. The materials and money mentioned above have been sent to Red Cross a few days ago.
In addition, when informed that the disaster areas are running out of blood, employees of the two companies organized voluntarily to donate blood. One of the employees of Five Star Appliance said: "I hope all of us can unite to help people in disaster areas out of quagmire."
It is said that from May 23 to May 31, Best Buy Xujiahui store will hold the charity bazaar and 5% of the daily turnover will be donated, which will serve as the startup funding for the hope primary schools in Sichuan provinces after the calamity. It is estimated that the total value of the contributions and materials donated by Best Buy and Five Star Appliances will exceed RMB 10 million Yuan.
Redmond Yeung, the President and COO of Best Buy Asia, said that "this earthquake gives China tremendous and unpredictable loss. As a responsible corporate citizen, we are deeply concerned with people in disaster areas and hope to support them by means of donating money and necessities."
One of the development strategies of Best Buy is to commit itself to public welfare undertakings. In October of 2007, Best Buy donated RMB 400 thousand-valued computers to AnShang primary school in FuFeng county of Shanxi Province to help them learn computer knowledge. Employees of Best Buy and Five Star Appliances also participate in other public welfares and environmental protection activities frequently.
About Best Buy Co., Inc.
Best Buy Co., Inc. (NYSE: BBY) operates an international portfolio of brands with a commitment to growth and innovation. Our employees strive to provide customers around the world with superior experiences by responding to their unique needs and aspirations. We sell consumer electronics, home-office products, entertainment software, appliances and related services through nearly 1,300 retail stores across the United States, throughout Canada and in China. Our multi-channel operations include: Best Buy (BestBuy.com, BestBuy.ca, BestBuy.com.cn and Best BuyMobile.com), Future Shop (FutureShop.ca), Geek Squad (GeekSquad.com and GeekSquad.ca), Pacific Sales Kitchen and Bath Centers (PacificSales.com), Magnolia Audio Video (Magnoliaav.com), Jiangsu Five Star Appliance Co. (Five-Star.cn) and Speakeasy (Speakeasy.net). Best Buy supports the communities in which its employees work and live through volunteerism and grants that benefit children and education.
